Insurance and Collector Plates
 

I will, of course, discuss this with an insurance agent but I thought I'd get some other opinions first...

I walk a couple blocks to work and don't need a car. My wife drives to work and uses our only car daily. It's licensed and insured in her name only. We might be buying a second car... an older classic which the seller currently has on collector plates.


Financially speaking, should this car be licensed and insured in her name, my name, both of our names?

If the second car is in her name and on collector plates insurance would be dirt cheap. She of course would drive the new car (not to work) as well as her daily and I would drive both as needed. I'm not sure if this is possible but it seems like the most cost efficient option. Am I missing something.

I know if it's in my name I'll have to pay for full insurance even though I won't ever drive it to work and it will only be used occasionally.

Collector plates carry significant limitations on usage, one of which is that it cannot be used to drive to/from work/school.

You would have to register it under her name to get the reduced collector vehicle rates as far as I'm aware. You could register it under your name with the collector plates, but you wouldn't get the reduced rate as you don't have a non-collector vehicle.

I live a 5 min walk to work and even if i wanted to drive there is no parking. no issue not driving it to work.

i"m after the discount for sure

Unless ICBC has changed it, you need to own/lease a non-collector vehicle to qualify for the reduced rates, so it'll have to be under the wife's name.

What car are you going to get?

i am currently working on my collector plate also. i don't think there is anyway around it if you don't have another main driving car.

stated in the app and you need to check it off: I own or lease a non-collector vehicle or am the assigned operator of a company vehicle that is registered, licensed and insured in B.C. as my general transportation vehicle.

Having a PPI on a 911sc tomorrow.

Okay, so I can put it in her name. She has a daily so that's her "non-collector" car which is fully insured.

In this case I can continue to drive both cars as needed but on her insurance? I would have no cars in my name - which is fine.

The only driving restriction on a collectors car is that it can never be driven to/from work/school.

You can put your wife's daily driver into joint name and then register the collector in your name. You'll be approved for collector as long as everything else checks out about your car.

^ This guy