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Discussion Starter #1
Reading a thread about our U.S. buds ( man I can't believe they pay $200-$400 for a $25,000 policy ) got me to thinking. Do you guys have appraisals for your cars? If so, where did you guys in the Vancouver area go and how much did it cost? I'm just thinking about a fight with I.C.B.C. should I get in an accident. Sad that for the money we pay that it would even be a consideration.
 

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I believe there are conflicting views on appraisals! From what I understand appraisals don't mean a lot to ICBC . However I am under the impression that an owner can make an appointment with ICBC and have their vehicle inspected by ICBC and come up with an agreed upon value. I run collector plates so maybe it varies from registration to registration. What I was told is ..each registration has a 3 digit class code and whatever the class code is ..is what your car is covered for.
This is a good thread ..maybe someone else can share some better insight into this thread.
 

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I know lots of guys who are driving around in classic cars worth in excess of $25,000 and all they have is regular ICBC coverage. If something happens to the car, ICBC will want to pay the current book value of a Chevy II....almost nothing:eek:, then the battle is on. Remember, we're not just talking MVA's. The car could be stolen, burned, etc. Also, having collector plates on your car doesn't give you additional insurance coverage.

ICBC has collector car insurance options, but I prefer to avoid this corporation as much as possible. I buy my required ICBC coverages, but have everything else under a BCAA agreed value collector car policy. They don't require an appraisal under $25,000, but you do have to be a BCAA member.

Bob
 

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I'm in Ontario, so it's a little different then BC, but my regular car insurance will only cover my Nova for PL and PD nothing else with or without an appraisal. The collector car insurance companies are around $3-500 for my car worth about $20-25K, but there are some driving restrictions. It's the car in my siggy.
 

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I just went through the BCAA routine with my car. You are right, they don't require an appraisal but they will value your car anyway. In my case, the value is less than I thought, but certainly more than ICBC would pay. Once I get the body work done, I will get an appraisal done. I got a list of ICBC recommended appraisers. That was worth it.
But couldn't justify the $300 right now.

Give the BCAA people a call. You can have a modified car, as long as it is not too different from stock. They were mostly concerned with body modifications. I suspect that a cowl hood would be enough for them not to insure the car.

Ray
 

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Discussion Starter #6
I'm going to start by going back to my insurance guy and see what he says regarding the value and a list of appraisers. I'm too modified for collector and not old enough for modified collector. I have a buddy with a $50,000 '32 bought from a "Langley Loafer" and he pays like $200 yr. with modified. Grrrrrrr. I should have asked more questions when I got the insurance but I was so wrapped up paying P.S.T. and bickering with I.C.B.C. on the phone that after about an hour in there I just wanted to put my plate on the car. Oh did I say it was a sunny day too.
 

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I have a buddy with a $50,000 '32 bought from a "Langley Loafer" and he pays like $200 yr. with modified. Grrrrrrr.
The problem with yours is that I don't think you car is not old enough ('58 ? or older) for modified collector plates. You will have to pay the full amount. But, I think you can still get guaranteed valve coverage.
I may be wrong but that's my 2¢ worth. :sleep:
 

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Absolutely right 65. Modified collector is min. 50 yrs. old. I actually looked into that a while back for my bike. Great for the rod guys but no good for us with muscle cars. I'm not even really crying about what we pay for our insurance. It is what it is. But I'm sure we can all imagine what our cars "book" value is in the eyes of I.C.B.C. Even with all the aftermarket parts out there for our cars I'm betting they would want to wright the car off with very little damage. At any rate I'll see what I'm covered for Mon. and post what i figure out.
 

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Don't mean to change the subject but I was talking to Nigel at ICBC about changing wheel size with collector plates. You can go up an inch, say 14 to 15, but that also applies to width. Im sure 66 and 67 came stock with 5". So you can only go to a 6" wide wheel. Im contemplating scrapping the collector plates so I can do what I want, wheels, stereo, etc.
 

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I've got TCI front and back, bigger wheels and tires, different interior, too much chrome in the engine bay......you get the picture. Again, it's not so much me trying to get cheaper insurance as it is me wanting ICBC to compensate me appropriately should anything (heaven forbid) happen to the car. I got nowhere with my insurance agent and 1st level customer service at ICBC. Noboby has "bluebook" prices that go back that far. Nigel (collector car division ICBC) was away from his desk when I tried to contact him. I thought I would touch base with him to see what other info I could get out of him. Our insurance with ICBC is an "agreed value policy". That means that we have to fight with ICBC for what we think our car is worth. This goes for all our cars/trucks from any given year. This is looking to me like we have to cover our butts with as many bills, pictures and current for sale ads as we can muster. The guy at the ICBC service desk said an appraisal couldn't hurt either.
 

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dont know about b.c but in ontario there is a great insurance for our vehicles, they are Whetter, oaklin ins,they give guaranteed agreed value for total loss claims, they require an appraisal but have a sliding scale for costs and there are 2 classes, stock and hotrod/custom which my nova will be in as it has 84 vette suspension, and is under $400 for $50000 agreed valye , and is nearly $100 cheaper for total stock, i think this is good value. check them out at www.classiccarcoverage.com, hope this helps someone.
 

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appraisal

Just had an updated apprasial on my 65 Corvette coupe... cost was $225.00
includes 9 pages of cars condition itemized section by section and a half dozen pictures to send to the insurance agent. The gentleman doing the inspection went back to his list of cars and over the past 4 years he has only done one other 65.... He informed me a collector vehicle in Alberta that is valued over $50 K will require an apprasial every 3 years from now on...I will have to get a second job just to keep up... my appraisal came in at $62,000.
 
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