Autoplan Insurance

Coverage for luxury vehicles

Certain luxury vehicles that are considered to be high-value vehicles are charged higher Basic insurance premiums. Some luxury vehicles may also require an application to obtain own damage coverage, which includes Collision, Comprehensive, and Specified Perils coverage. Find out how to insure your luxury vehicle in B.C.

What is a high-value vehicle?

A high-value vehicle is a B.C. registered, private passenger luxury vehicle with a manufacturer’s suggested retail price of:

  • Over $150,000, with a model year that falls within seven years of the current year or

  • Over $400,000, with a model year that falls within 14 years of the current year.

It does not include commercial vehicles, motorcycles, trailers or recreational vehicles (RVs).

Please refer to the list of luxury vehicles pdf to find out whether your luxury vehicle:

  • Is subject to mandatory Basic insurance premiums for high-value vehicles and/or  

  • Requires an application to obtain ICBC own damage coverage through the Special Risk Own Damage Policy.

Applying for the Special Risk Own Damage Policy

If you require an application to obtain own damage coverage for your luxury vehicle, remember to submit your application for the Special Risk Own Damage policy at least five business days before you buy your insurance policy. Otherwise you could find yourself without own damage coverage until the application is processed.

Speak to your broker​ ​for more details.