Antique Vehicle Insurance
Your antique vehicle is your prized possession – purchasing the right Insurance for it provides you with peace of mind you can count on.
Why Do You Need It
There are three ways that you can plate/register an older vehicle (regular plate, antique plate, collector plate) and depending on how you use the vehicle, where you use the vehicle and how of often you use the vehicle, there are different ways to insure it.
Depending on your individual needs, you may find one of these options preferable.
Autopac – Regular Plates
A vehicle that qualifies as either a collector or antique vehicle has the option of being plated as a collector or antique plate, however can be insured the same as a regular vehicle. If insured as a regular vehicle, it can have Pleasure or All Purpose or other.
You may insure your vehicle as Pleasure Use which would be the exactly the same as the collector plate, however you can also chose any other type of insurance (such as All Purpose), which cannot be selected with the Collector Program.
Autopac – Collector Program
A passenger vehicle or light pickup (Gross Vehicle Weight under 4540 kg) which as at least 25 years old. Must be valued at a minimum of $5,000 and must have Collector Vehicle Qualification Form completed by the Manitoba Association of Automobile Clubs (M.A.A.C) or Autopac – see Autopac Appraisal Form
Collector Vehicle Insurance, can be used for Pleasure use ONLY (not driven to or from or part way to or from work or school for more than 1609 KMs during a registration period and not more than 4 days in a month) and cannot be used in connection with a trade, business of occupation.
You get a Collector Vehicle Plate – which has a vintage look and can be one of the reasons that people decide on the collector insurance use, in addition to the convenience of not having to change back and forth, from driving to storage lay up coverage.
Motorcycles – There is no Collector Insurance Use for motorcycles, however you can request to simply add/change your plate if you prefer the collector plate on your motorcycle. In order to qualify the motorcycle which is at least 25 years old and the motorcycle must be have a declared value of over $4,000, however no appraisal is required.
Autopac – Antique Vehicle
Any motor vehicle (excluding off road vehicles and power-assisted bicycles) which are at least 30 years old
Can ONLY BE DRIVEN in, to and from a parade or procession, or driven to and from getting repairs or service. In addition if authorized by the Registrar can be used to drive in an antique car, truck or motorcycle rally.
You get an Antique plate, but do not get any coverage for physical damage to your own vehicle – so as a result, the Antique Vehicle plate is not very popular option.
The one advantage of an Antique vehicle is that there is no requirement to have a certificate of inspection (C.O.I.) in order to be plated.
How Much Coverage do you need?
When you insure you vehicle with Autopac, “Basic Autopac” includes up to $50,000 coverage. If your vehicle is valued more than $50,000 you can extend the coverage to a higher limit. It’s important to know that regardless of the limit you purchase, there is no guarantee that Autopac will pay you this amount.
Autopac pays claims based on an Actual Cash Value basis, but with older cars this is very subjective and many factors affect value, such as how rare the car is, can impact value along with the most important factor, which is the condition of the vehicle.
Max of $50,000 but must substantiate loss. You can get an appraisal completed but this doesn’t guarantee the amount of payment from Autopac, it just provides assistance when negotiating with them.
Qualifying for a Collector vehicle requires an appraisal to determine that the value of the vehicle is over $5,000 but this appraisal does not provide any guarantee of the amount that Autopac will pay, in the event of a total loss.
It’s a good idea to keep copies of any appraisals done on the vehicle along with invoices for any work that you have had done to the vehicle, both mechanical and body work and parts and labour charges. These types of things can be used to try to hopefully negotiate a higher amount of payment, if you have a total loss claim.
Agreed Value Policy
Did you know that you can purchase a separate policy that will GUARANTEE the value of your vehicle? We offer this coverage from Hagerty Insurance Canada or through Saskatchewan Mutual Insurance (SMI). – see Hagerty or see SMI
The Basic Autopac coverage included with the Autopac – Antique Vehicle plate, does not provide any coverage for physical damage to the vehicle. The Collector and Regular plated vehicles, will have All perils coverage included with the plate/registration.
All Perils coverage will pay for the cost of repairing damage to your own vehicle, which occurs from a vehicle collision. All Perils will provide coverage for Comprehensive Claims, such as fire, explosion, vandalism, hail, glass breakage, theft and flooding.
Choosing the Right Deductible for you…
|Type of Claim||Autopac Collector Plate or Regular Plate with pleasure use deductible options|
|Basic Autopac||Autopac Extension Optional Deductible Packages|
|Collision or Upset, Fire, Hail, Lightning and theft of vehicle parts||$500||$300||$200||$100|
|Theft or Attempted Theft of Vehicle||$500||$300||$0||$0|
|Collision with Animal||$500||$0||$0||$0|
|Type of Claim||Autopac Antique Plate Deductible|
|Basic Autopac||Separate policy through MPI – SRE optional coverage deductible options|
|Collision or Upset, Fire, Hail, Lightning and theft of vehicle parts||–||$350||$250||$150|
|Theft or Attempted Theft of Vehicle||–||$350||$250||$150|
|Collision with Animal||–||$350||$250||$150|
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* Please note all types of policies have exclusions, conditions and limitations. This information is not intended to be a full explanation of coverages and in all cases the wording of the actual insurance policy will apply.