Autoplan Insurance

ICBC payment plan

Spread out the cost of your insurance with a payment plan that lets you make easy-to-manage, monthly payments.

You can choose either a six or 12-month plan with monthly or quarterly payments, with the option to pay the full balance at any time and select a withdrawal date that works for you (note that the first payment is due on the plan start date). 

Try our payment plan calculator​ to see your potential savings per year compared to carrying a credit card balance.


Is your payment lower than usual?

If you notice a lower installment amount, it may mean that you're eligible for the 2024 rebate. Starting in June, the $110 rebate will be applied to your next scheduled payment(s) until you’ve received it in full.

Learn more about the rebate.

Who can sign up

To qualify for the payment plan, you must:

  • Be the registered owner (or the named lessee) of the vehicle you're insuring

  • Have a Canadian chequing or savings account that allows for pre-authorized automatic withdrawals

If you're under 19, you'll need your parent or guardian to co-sign the payment plan.

Six-month payment plan

You'll have to sign up for a six-month plan if you:

  • Are new to B.C. or haven't been on our payment plan within the past year

  • Don't have a B.C. driver's licence

  • Are just ending a one-year period on a cash-only payment with ICBC

Once you've successfully completed a six-month plan, you can apply for the 12-month plan.

Payment plan cost

There is a one-time $15 fee when you enroll. As long as you renew your plan within 12 months of your Autoplan policy date, you won’t need to pay the fee again. 

The finance rate is set at the greater of RBC prime-rate less 1% or 2.5%​, which is lower than many Canadian credit cards. The rate is fixed from the policy start date and calculated using a straight line interest method over the length of the policy term.

Monthly payment deferral

​If your payments are up to date, you can request a one-time payment deferral for up to 90 days without penalty. Fleet customers can also request a payment deferral. First payments can not be deferred. The total of all deferred payments will be withdrawn on your selected date.​​

How to request a deferral

You can request to defer a payme​nt online. Submit the request before 6 p.m. at least one business day before your next payment date (Saturdays, Sundays and statutory holidays are not considered business days).​

You’ll need your driver’s license number, the policy or licence plate number and the next payment date. We’ll email you to let you know the status of your request within one to two business days.​

​Missing a payment

If your monthly payment is returned because there wasn’t enough money in your account or for another reason, you’ll have to pay an $18 return fee. Within three to five days, we will try to withdraw the missed payment again.Payments returned for other reasons are dealt with based on the nature of the return.

Start, change or cancel your payment plan

You’ll have the option to enroll in the payment plan when you start or renew your insurance policy. 

You‘ll need to provide your Autoplan broker​ with either a pre-authorized debit form from your bank or a void cheque showing the policy owner’s name confirming your signing authority on the bank account. 

If you’re renewing your policy online, you’ll be asked to confirm your existing account information or enter account information when it’s time to pay. 

Your Autoplan broker can also make changes during the policy term if you change banks or need to change your monthly payment date.  

​To cancel your payment plan, contact your Autoplan broker.​


Speak to your Autoplan broker

If you'd like to change your banking information or payment plan dates, please speak to your Autoplan broker.​​

More information

If you have any questions about our payment plan or how to sign up, please contact your Autoplan broker.