http://www.sgi.sk.ca/pdf/rateproposal/Aug31-2013/motorcycles_LV.pdf
Coming soon to a province near you?
Coming soon to a province near you?
Saskatewan proposed rates
- Thread starter nobbie48
- Start date
silverbullet132
Well-known member
Wow that is quite an increase for the bigger bikes...
I seen that earlier today, should be interesting to see there justification for tripling the rates
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I'm not saying their reasons are gong to be valid or even in the realm of sanity, I just want to see how they are going to justify the increase, hopefully it's not the old "**** you, that's why" that the government is so fond of
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Why would they need to justify the rates. The bikers are in a smal minority and the hoi poloi only sees the loud and careless ones so it "Serves them right".
I can't find the link now, but I did read tonight that they are increasing it because motorcycles bring in less income that what they are spending for claims so they are losing money insuring them. I'll try to find the link again
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Wheelieboy
Well-known member
I would be curious to see what other rating factors they are using. Looks like they are basing their rates primarily on the motorcycle and not the rider/location...
The difference is those rates are going to be their standard rates, not their high risk ones. I think a 300-400% increase is outrageous. Unfortunately I don't think that motorcyclists are a big enough group in Saskatchewan to really make the fuss needed to get this looked at and changed
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If that's the case then I can understand it somewhat but even so it's a massive increase. It doesn't affect me so as the other poster said ehy do they have to justify then really I guess they don't. It just worries me the precedent it will set for other insurers when the rates people pay are already outrageous. Are claims from motorcyclists really that high in Canada? Are the majority of riders really so idiotic? I would love to see some figures of actual claims from insurers to get a feeling on what the statistics are.
Why look at motorcycles as a separate market for profits? You win some, you lose some, but that's why insurance works: Your rates don't triple because one year you cost your ins company a million; they go up, but they don't triple. Considering this government organization insures ALL vehicles in Saskatchewan, not only do they have a responsibility to make rates reasonable, but they have the ability to 'win some and lose some' in that they can take the hit on bikes and make up for it with their car profits.
It really comes down to lobbyists that apparently don't want to see motorcycles on the roads. Let's just all drive Hummer's and we'll all be infinitely safe.
It really comes down to lobbyists that apparently don't want to see motorcycles on the roads. Let's just all drive Hummer's and we'll all be infinitely safe.
N
Nyx13
Guest
Holy crap! I wouldn't even be able to insure my bike if I was still living out there... The 'proposed' rates are more than double what mine is here.
I know. I s thinking about looking for a job out there, but not now. That's 2600 more than what I'm paying right now, definitely not worth it
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Platinum Cycle
Well-known member
Where are all the proponents of government insurance now?
I like the idea of government insurance... I just did a quote over on their website and my quote for my current car was 3k cheaper.
