Saskatchewan Government Insurance (SGI) is making it harder for people to take advantage of special rates for antique cars.
Effective Jan. 1 of this year, the definition of what the insurer considers an antique vehicle was changed.
Previously, any vehicle 30 years or older qualified for the discounted rate for antique use, meaning slightly newer vehicles became eligible every year. Now, eligible vehicles will remain capped at models from 1987 or older.
The company explained the change in a press release, noting the antique use classification was always intended for vintage vehicles used on limited occasions, such as parades or the odd Sunday drive.
However, the $85 annual rate (plus PST) charged by SGI for antique plates appears to have been too tempting for many in the province running beaters for the winter, or even year-round.
SGI reported that since 2011 they’ve seen a 55 per cent spike in the number of vehicles being registered as antiques, alongside a rising number of antique-registered vehicles being involved in collisions.
A spokesperson for the company said the payouts for those crashes now far exceed the amount of money brought in from sales of antique use plates.
The company announced that consultations with antique car clubs and vintage car enthusiasts had led them to impose the cap on eligible model years, rather than raise the price to register a vehicle as an antique.
Those who already have a vehicle registered as an antique will see no change to their coverage, which includes full liability and injury coverage, but limits coverage for damage to the vehicle itself at $800.
Owners with vehicles made after 1987 who were looking forward to eventually registering them as antiques were encouraged to look into other options, such as short-term registration for the summer or 24-hour and 8-day permits.