We’re more than just insurance. Here you’ll find tips and tricks for your insurance, and what we bring into our local communities.
Online Renewals and Decal Elimination
You may have heard that ICBC’s expanding their online insurance services. Online Autoplan insurance renewals will be available to most ICBC customers with a personal insurance policy for renewals effective May 1, 2022, onward.
Online Renewals
The government announced that British Columbians will soon have the convenience of renewing their insurance online up to 45-days in advance. This means, some insureds can renew as early as March 17th (for a May 1st effective date).
Decal Elimination
EFFECTIVE MAY 1, 2022.
Now, with the new online renewal system all BC drivers will no longer be required to display a decal. As many of you were probably curious regarding how you were supposed to obtain the decal with renewing online, you don’t need it!
Road Safety
Previously, law enforcement would scan your license plates decal to confirm active insurance. Now that ICBC is no longer issuing decals, law enforcement will remain up-to-date with ICBC’s changes, they will soon receive ALPR (automated license plate reader) to scan for active insurance.
The Broker
Now, this doesn’t totally eliminate the broker. We are still here to assist in the review of your online renewal, questions, concerns, and changes. This new online service is only applicable to renewal transactions; not for transfers, policy changes, or new plates.
Many of you have already taken advantage of ICBC's Insurance Business Continuity Plan (BCP: email and phone process), this feature remains available for brokers to use for the foreseeable future, this process is best to accommodate clientele who want to do business without face-to-face interaction.
All of our locations are open 7-days a week to assist you.
BREAKING: Changes to Vehicle Tax Collection
The more reason to purchase electric! Vehicles eligible for the exemption include: battery electric vehicles, hydrogen fuel cell vehicles, and plug-in hybrid electric vehicles. Though, some exclusions apply…
Tax changes on zero emission vehicles – effective Feb. 23, 2022.
The B.C. Government has released tax changes to the purchase and transfer of zero emission vehicles (ZEV). Vehicles that are eligible for the exemption include:
battery electric vehicles,
hydrogen fuel cell vehicles and,
plug-in hybrid electric vehicles.
Effective Feb. 23, the purchase or lease of used zero emission vehicles will be exempt from provincial sales tax (PST). The new tax exemption applies to both private and dealer sales.
EXCLUSIONS:
For private sales, where ICBC collects the PST, the zero emissions vehicle must have 6,000 km or more showing on the vehicle's odometer to be eligible. (Note: the 6,000 km requirement does not apply to sales by GST registrants, such as a dealership, or vehicles imported from outside Canada).
The Government also announced changes to the way the graduated vehicle tax is calculated. Also beginning Feb. 23, the value of new zero emission vehicles are subject to the graduated vehicle tax which has increased to $75,000 from the previous $55,000. This change means new zero emission vehicles valued under $75,000 are not subject to the graduated vehicle tax. Note, the taxable threshold amount of $55,000 will remain in effect for non-ZEV vehicles.
(graduated income tax structure assesses greater tax rates on greater levels of income.)
Now, the change for new zero emission vehicles primarily impacts the B.C. motor vehicle dealers, as they collect the PST at time of purchase in the vast majority of new vehicle sales; however, us Autoplan brokers may need to collect the graduated vehicle tax on new vehicles purchased outside of B.C. If you’re purchasing a vehicle outside of B.C. or are moving to B.C. and have questions regarding tax collection, please give us a call!