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Saskatchewan Auto Insurance

Compare Saskatchewan Auto Insurance Quotes and Get the Best Rate

Saskatchewan has a public auto insurance system. Saskatchewan SGI provides coverage to residents and their automobiles against traffic accidents and collisions; residents are required to hold at least the minimum coverage. This means that your Saskatchewan auto insurance rate could be higher than the provincial average.

However, you can easily reduce the amount you pay on Saskatchewan auto insurance if you have a good driving record, driving experience, and choose an adequate amount of coverage. It is very important to choose just the right amount of coverage because too much coverage will put pressure on your finances and you will spend a lot of money out of pocket if you opt for too little coverage.

We can help you to minimize the amount you pay on auto insurance. Call Insurdinary.ca for Saskatchewan auto insurance quote suitable for you. When you call Insurdinary.ca, we will connect you to reliable insurance advisors in Saskatchewan who will guide you to choose the best auto insurance coverage for Saskatchewanians. Our independent insurance advisors will also provide expert advice and guidance that would be relevant for you to save on your coverage.

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What are the Different Factors that Affects Saskatchewan Auto Insurance Rates/Prices?

Saskatchewan auto insurance companies consider several factors when determining the amount you pay in auto insurance premium. The factors or variables considered are as follows:

  • Your driving record
  • Your age and gender
  • Your driving experience
  • The type of vehicle you drive
  • The location and use of your vehicle
  • The amount of coverage you chose.
  • Where you live in Saskatchewan.

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Saskatchewan Auto Insurance FAQ

How much will car insurance cost me in Saskatchewan?

Saskatchewanians pay some of the lowest auto insurance rates in Canada. According to the Insurance Bureau of Canada 2017 report, Saskatchewan drivers pay an average auto insurance rate of $936. This makes it the sixth least paying province among the Canadian provinces and territories.

How much is the Saskatchewan auto insurance rate in comparison to the rest of Canada?

Saskatchewan auto insurance premium is lower than the national average. According to the Insurance Bureau of Canada 2017 report, Saskatchewan pays an average premium of $936.

Is auto insurance required in Saskatchewan?

Yes. Saskatchewan drivers are required to obtain mandatory or basic coverage from SGI.

What is covered in my Saskatchewan auto insurance policy?

Saskatchewan drivers are required to carry $200,000 in third-party liability and also first-party peril insurance.

What are the Penalties of Driving Without Insurance in Saskatchewan?

If you are charged for first or second offense due to driving without insurance in Saskatchewan, you will pay $1,000 and your driver’s license may be suspended. Also, you will be arrested if you drive an unregistered vehicle, this will inflate the amount you pay in Saskatchewan auto insurance.

To learn more about Saskatchewan auto insurance, click here.

What is the Minimum Requirement For Saskatchewan Auto Insurance?

Saskatchewan drivers are required to have $200,000 in third-party liability insurance coverage on their vehicle. They are also expected to carry first-party all perils insurance.

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Average Auto Insurance Rates By Province

Year
Rate Change
British Columbia
$1,680
Ontario
$1,445
Alberta
$1,251
Newfoundland and Labrador
$1,132
Manitoba
$1,080
Northwest Territories
$978
Nunavut
$963
Saskatchewan
$936
Nova Scotia
$842
New Brunswick
$819
Yukon
$812
Prince Edward Island
$796
Quebec
$661

Saskatchewan Auto Insurance News

Auto insurance rate is on the increase in most jurisdictions in Canada but the reverse is the case in Saskatchewan as the provincial auto insurance rate plummets. In 2018, SGI the Saskatchewan government-run auto insurance monopoly applied for a rate decrease. The Saskatchewan Rate Review Panel is expected to look into the impact the decrease would have on the auto insurance industry and the customers.

Although the company did not provide the exact number, earlier in July 2018, Andrew Cartmell, the president and CEO of SGI said that there might be a decrease of few percents on the amount paid by customers. The company also told Canadian Underwriter that the strong investment earnings in 2017 and 2018 may make rate decrease possible. The Saskatchewan Auto Fund posted investment earnings of $162.8 billion for the period. The profits will benefit drivers and will be used for a rate reduction.

Besides Saskatchewan, two other Canadian provinces namely Manitoba and British Columbia require their residents to buy auto insurance from a public company. ICBC has been criticized for its high auto insurance rates. It has the highest auto insurance rate in Canada.

Critics blame the public auto insurance rate and the monopoly it has on the industry for the high rate. According to critics, ICBC does not have the incentive to reduce price and improve its services due to the lack of competition. The most vocal of the critics is the Insurance Bureau of Canada (IBC), a body that represents most private insurers in the country.

However, considering other provinces such as Manitoba and Saskatchewan that also employ a public auto insurance system, it is clear that the problem of British Columbia is not its public insurance monopoly.

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