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Coverage for Luxury Vehicles

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ICBC Coverage for Luxury Vehicles – The Best Luxury Car Insurance in British Columbia

Luxury vehicles are exactly as their names imply, they are luxurious and exotic materials. Surely, you want to protect your investment and ensure that it continues serving your purposes as appropriate. The cost of a luxury vehicle could be several times higher than the usual vehicles and you cannot afford to lose your money, can you? With ICBC coverage for a luxury vehicle, you can protect your investment without stress.

ICBC increased the Basic Auto plan insurance premium for some luxury vehicles considered to be high-value vehicles as from January 8, 2017. The coverage you should opt for your luxury vehicle depends on the vehicle in question. For some luxury vehicles, you might have to apply for damage coverage which includes collision, comprehensive and special perils.

Features and Benefits of ICBC Coverage for Luxury Vehicles Insurance Plan

If you need to obtain own damage coverage for your luxury vehicle, you might have to apply for the Special Risk Own Damage policy within a minimum of five business days before purchasing your Auto plan insurance policy.

  • A private passenger luxury vehicle registered in B.C of over $150,000 with a model year that falls within seven years from the current year or over $400,000 with a model year that falls within fourteen years of the current year is termed a high-value vehicle.
  • High-value vehicles do not include motorcycles, trailers, commercial vehicles, or recreational vehicles (RVs).
  • ICBC increased the Basic Auto plan insurance premium for some luxury vehicles considered to be high-value vehicles as from January 8, 2017.
  • You may need an application to obtain own damage coverage that includes Collision, Comprehensive, and Specified Perils coverage.
  • If you need to obtain own damage coverage for your luxury vehicle, you might have to apply for the Special Risk Own Damage policy within a minimum of five business days before purchasing your Auto plan insurance policy.

Ask your Broker about ICBC Coverage for Luxury Vehicle Insurance Quotes and Compare!

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