What is the impact of ICBC’s collector vehicle insurance policy on a vehicle that is insured under the collector vehicle program?
British Columbia, Canada
The following excerpt is from Bolen v. ICBC, 2006 BCSC 1749 (CanLII):
In Madden v. ICBC (2002), 5 B.C.L.R. (4th) 179, 2002 BCSC 1285, the plaintiffs had insured their vehicle under ICBC’s Collector Vehicle Program. The program had a number of specific requirements regarding the condition and use of the vehicle. Vehicles are insured under that program for pleasure use only and not for general transportation. Because the owners are expected to drive the vehicles infrequently, ICBC offers a substantially discounted rate for insurance that reflects the reduced risk of an accident.
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