Review (and possibly proposed changes) to ICBC Collector Motor Vehicle Program

[Timpo]

Originally Posted by BoostedBB6

I think the concept of the program is good, but in the end a high value car should not be allowed to insure for a low value rate.

oh good point, people can register Ferrari 250 GTO and Lamborghini Miura for super cheap by ICBC.

JDM fans can insure Toyota 2000GT for cheap too.

[Timpo]

Originally Posted by Manic!

They should scrap the Collector Motor Vehicle Program and allow one plate for multiple cars. I would like to own a couple of more cars but having to insure a car that I am barley going to drive is stupid.

Originally Posted by Traum

I know what you're getting at, and in theory, I agree with it as well. However, executing this requires a fundamental shift in how auto insurance is issued. Instead of having insurance (mostly) tied to a vehicle, it needs to be tied to the driver.

ICBC used to have it. You can insure your primary vehicle at your rate, and get the second vehicle additional 50% off (or something significant) on top of your insurance discount.

According to many posts on RS(I can't find the thread now), many people registered 50cc scooter as a "primary vehicle" and got a massive discount on Mercdes and Audi because they were their "second vehicle"

[vitaminG]

i really feel like the collector vehicle program caters to only select groups of car enthusiasts. why should the guy with a 200k hotrod or muscle car get discounted insurance? not to mention all of the allowable modifications are catered to towards domestic vehicles.

i think they should keep the year at 25, set an upper limit to a cars value and get rid of modified 1958 and prior. change the allowable modifications to be more clear and allow basic modifications that apply to newer vehicles like a chip and cold air intake.

[TouringTeg]

From a personal point of view I hope that when my ITR is 25 years old I can get collector plates simply to save on insurance.

Even if ICBC raises the age to 35 years it makes no difference to my plans. I will still restore my car to original spec and enjoy it for as long as possible.