Saskatchewan drivers should take a second look at their auto insurance to better understand what they are and are not covered for, according to a new digital awareness campaign launching this week by the Insurance Brokers Association of Saskatchewan (IBAS).
The BetterThanBasic.ca campaign aims to educate consumers on the limitations of compulsory coverages provided by SGI with vehicle registration, and highlights practical situations where the minimum insurance often isn’t enough.
“Auto insurance is confusing and is likely the last thing most drivers want to take time to think about,” explains IBAS President & CEO Derek Lothian. “But purchasing extended coverage is one of the most important financial decisions an individual or family can make. This initiative is about simplifying that process — minimizing insurance jargon to explain the coverages, the risks, and the options available.”
One of the campaign focuses is third-party liability insurance. Only half of Saskatchewan vehicles are insured with third-party liability protection beyond the $200,000 limit that comes standard with licence plates. By comparison, more than nine in 10 vehicle owners in B.C. and Manitoba — two other provinces with public auto insurance — have chosen coverage of $1 million or more.
“There are many factors that need to be considered when selecting auto insurance,” says Lothian. “Can you afford a lawsuit? Do you have loved ones who depend on you? Do you travel outside Saskatchewan? How easily can you absorb unexpected costs? Our goal is to help consumers ask the right questions and make the information as accessible and easy to understand as possible.”
For more information about the campaign or Saskatchewan’s unique auto insurance system, visit www.betterthanbasic.ca.
IBAS is a voluntary membership-based organization, representing approximately 180 insurance brokerages and 1,600 licensed insurance brokers operating in 250 different communities across the province.
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