Saskatchewan's auto insurance regulations differ from those of Canada's other provinces. So, if you are moving into the area, you'll need to update your coverage.
Auto insurance law in this province follows government-established coverage. However, drivers also have the option to augment their protection with private coverage. How you choose to insure yourself will likely depend on several different options. First, let's take a look at your required coverage. Then, think about the ways you can expand your coverage.
Saskatchewan's Government Insurance
When you receive a license and registration, you must enroll in compulsory Saskatchewan Government Insurance (SGI). This is a self-sustaining program that does not receive government funding. However, the provincial government established it, and it is a lawful program.
SGI coverage comes with several different types of protection.
- Coverage includes both collision and comprehensive protection. These features provide coverage for damage to your own vehicle. Protected incidents include such incidents as wrecks, fire, theft and weather damage. You will face a $700 deductible for each damage incident. SGI's license coverage will then pay the remainder of the claim.
- Personal injury coverage, in case you receive injuries in a wreck.
- Liability insurance in case you cause harm to someone else in an accident. Policies will provide up to $200,000 in liability coverage.
While these protections are valuable, SGI policies are generally basic coverage. Therefore, drivers might need more coverage. How can you obtain it?
Extending Your Policy
You'll need to obtain SGI coverage when you register your car. However, you might find this coverage doesn't meet all of your needs. How can you expand your policy for better coverage?
A good option is to choose a higher liability policy add-on. These policies come from a number of private brokers who offer extension coverage to your SGI policy. So, if you want more protection, contact Heritage Insurance to get coverage.
With additional protection, you increase your own financial security. As an example, let's say you have to face a liability claim of $500,000. If you have only $200,000 coverage from the SGI policy, you might face $300,000 you have to pay out-of-pocket. If you can expand your liability policy, you might benefit from this coverage.
Once you get your SGI policy, see if you need additional protection. If never hurts to look at your own finances and the value of your vehicle. You must protect them accordingly.