Personal Auto Policies
Why Auto Insurance Matters in Saskatchewan
In Saskatchewan, every registered vehicle is covered by basic insurance through your vehicle plates, provided by the Saskatchewan Government Insurance (SGI) Auto Fund. This coverage includes fundamental protection such as:
- Liability Insurance: To cover damages or injuries you cause to others in an accident.
- Personal Injury Protection: For medical expenses and rehabilitation if you’re injured.
- Collision and Comprehensive Coverage: For damage to your vehicle due to collisions, theft, or other incidents.
While this plate insurance offers a solid foundation of coverage, it’s important to recognize that it might not fully protect you against all potential risks. That’s where an auto policy for each vehicle you own becomes crucial.
Having a separate auto policy allows you to:
- Increase Liability Limits: To better protect your financial assets in case of a serious accident.
- Customize Coverage: Tailor your policy to your specific vehicle, whether it’s a car, motorcycle, ATV, or classic car.
- Access Additional Benefits: Such as rental vehicle coverage, replacement cost, and accident forgiveness.
By ensuring each of your vehicles has the right coverage, you can drive with confidence, knowing you’re fully protected against the unexpected. Let’s explore the options available to you in Saskatchewan.
Protection Available
While basic coverage is mandatory, you have options to enhance your protection with additional coverage tailored to your needs.
Higher Liability
Plate insurance only comes with $200k; a policy can increase this to anywhere from $1m to $5M for most vehicles.
Loss of Use
Pays for a temporary replacement vehicle while your vehicle is being repaired.
Collision & Comprehensive Deductibles
Your plates carry a $700 deductible – meaning you pay the first $700 to repair your vehicle in most claims. Your policy can decrease this down to as low as $50.
Road Hazard Glass
This coverage pays to replace your windshield after a stone chip/crack while driving. With the $50 & $100 deductible options – stone chips are filled with $0 deductible.
Extensions of Coverage
These are extra benefits with a personal auto policy beyond the optional coverages to select. These may be dependent on your type of policy or vehicle. Please reach one of our Personal Insurance specialists to review your policy.
Family Security
This coverage provides that when you are hit by an uninsured/under-insured driver, your liability will act like theirs, providing coverage for you and your family.
Waiver of Deductible
When you purchase a lower deductible, in most claims the deductible is waived for fire/theft of entire vehicle or collision with an animal or bird.
Increased Accident Benefits
This extension tops up your accident benefits provided by plate insurance for things like Lost Income and Medical & Rehab costs.
Single Deductible
If your auto policy and home/tenant/condo policies are through the same company (ie. SGI, SMI) you pay one deductible for a claim involving both.
Non-Owned Auto
Provides the same coverage you have on your vehicle to a vehicle you temporarily operate in its place (ie. a rental car in Canada & USA).
Automatic Storage Coverage
If your vehicle is going to be stored temporarily, with collision & comp deductibles you can cancel the plate and the policy continues as storage insurance.
All vehicles should have their own policy.
Policies are vehicle specific, and a way to access specialized protection for specialty or seasonal vehicles.
ATV & Off-Road Vehicles
Unregistrable vehicles like ATVs and off-road bikes are not automatically covered by home insurance like other property. Depending on the company, both physical damage and liability from their use can be placed on either auto or home insurance policy. There are special considerations for things like underage operators and passenger liability.
Antiques
Classic and Antique plates/policies provide a much more cost-effective way of protecting your vehicle. They can even provide stated amount coverage (an amount guaranteed in the event of a loss). Vehicles under restoration have their own coverage available as well.
Motorcycles
These policies include a cost-effective off-season storage coverage.
Snowmobiles
Registration for snowmobiles only includes basic liability ($200,000) and a trail pass for the season. The only way to have coverage for damage to your snowmobile and injury coverage is through a policy.
Trailers
Your policy can include coverage for your trailer during the offseason for a very low cost. Ask your broker as the costs will depend on the use and value of your trailer.