Insuring a Classic Car in BC
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A classic car owner discusses the special insurance requirements for his 1978 Trans Am
Do you know how to insure a collector car in British Columbia? One man tells us what it took to insure his classic Trans Am.
Gord Hentze: Back in 1977 Carol and I were dating and we went to see Smokey and the Bandit. And being a muscle car fan we really liked the Trans Am that was in the movie. There seemed to be quite a few black orders going in so we wanted to have something a little bit different; so we chose the gold.
With the taxes then it came to about $10,200. It’s had no accidents. It’s never been driven in the rain, except once we got caught and we had to turn around and go back home. Sort of kept it in the garage hidden away.
When the car turned 25 years old it was eligible for a collector plate. To get that you have to contact ICBC and they give you the forms. You just have to fill them out and take pictures of the car from every angle. Inside your trunk; take the floor mats out; take pictures of the interior; make sure the carpets are in good shape.
The car has to be in very good condition and original. The only changes they allow you, say on older cars, are safety updates. Once you get the plate you are entitled to drive it for pleasure use only, and you must have another vehicle insured at the same time. You are not allowed to use it to go to school or work, otherwise your insurance will be void.
By getting the collector plates you save a substantial amount of money each year. If you want to have your car appraised and have additional insurance put on it, you can do that on top of that.
For people that own more than one collector car, or more than one, say a collector motorcycle or a pick-up truck, you’re actually allowed with permission from ICBC to transfer one collector plate to another, but it has to be on the same type of vehicle.
People always ask, “Did you plan on keeping this car tucked away?” We say no, that’s just the way it turned out. It is what it is. There’s not too many out there anymore.
