What is classified as an antique vehicle? It used to be that in Saskatchewan any vehicle that was 30 years or older was classified as antique, but the rules have changed (much to everyone’s chagrin if they bought a year 1990 truck). Antique plating is only applicable now on vehicles that are 1987 or older, and you must have a primary vehicle plated in your name that is NOT antique plated. You also cannot use the antique plated vehicle for farm purposes… so if you’ve bought “Old Rusty” to help you move hay bales or for farm work, it cannot be antique plated!
Plate coverage, in the event of a claim, is subject to a $500 deductible and a total payout of $800. That’s only a $300 payout after the deductible is paid!!! So, unless you are driving a vehicle that is not worth more than $300, an auto policy is a very wise choice indeed!
Your antique plated vehicle can be put onto an auto policy with:
- STATED VALUE –a current appraisal (within two years) is needed, and the value will be based on the appraised value.
- ACTUAL CASH VALUE -the value that you feel that your vehicle is worth. I’m sorry, Grandpa’s old truck may be worth a lot to you, but in the event of a claim, it might not be worth as much as you think it is. An appraisal would be the best way to ensure that your vehicle’s worth is accurate.
Additional coverage options are:
- LOSS OF USE- coverage for alternative transportation in the event that your vehicle is involved in an insurable claim. Varying limits are available.
- COLLISION DEDUCTIBLE- offers a lower deductible than the plate deductible should there be damage to your vehicle caused by collision.
- COMPREHENSIVE DEDUCTIBLE- offers a lower deductible than the plate deductible should there be damage to your vehicle by causes other than collision and not otherwise excluded. With antique vehicles, this option also provides coverage for road hazard glass.
Talk to your broker about having your vehicle put onto an auto policy. Whether it’s an older vehicle that is in pristine condition or a “well loved” old gal that you want to protect, an auto policy can provide you with the extra coverage you need.