How to Save Money on Your Saskatchewan Motorcycle Insurance
Motorcycle ownership in Saskatchewan is about freedom on the open road, but it also comes with the responsibility of proper protection. While motorcycle insurance is mandatory, there are strategic ways to lower your costs without leaving your bike (or yourself) vulnerable.
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SGI (Saskatchewan Government Insurance)
2024 Motorcycle Safety Facts:
6
Fatal motorcycle accidents recorded in Saskatchewan in 2024
215
Motorcycle collisions resulting in personal injury claims
59
Motorcycle collisions resulting in property damage only
Top 5 Saskatchewan Communities by Collision Volume (2024)
Saskatoon
8,356
Regina
5,026
Prince Albert
721
Moose Jaw
614
Lloydminster (SK)
385
Source: SGI 2024 Traffic Collision Statistics Report
Understanding Your Motorcycle Coverage
In Saskatchewan, your SGI basic registration provides a foundation, but an extension policy fills the critical gaps. Here is how those coverages actually work for you:
💥
Collision
This covers damages to your bike caused by a tip-over or a collision with another vehicle or object, regardless of who is at fault.
🛡️
Comprehensive
Protects against non-collision risks like fire, vandalism, and environmental damage. This also includes Glass Coverage for your windscreen or mirrors.
🚫
Important Exclusions
Please note that Replacement Cost and Loss of Use (rental vehicle) coverage are generally not available for motorcycles.
💰
Enhanced Liability Limits
While your plate provides $200,000, a policy allows you to increase this to $1M, $2M, or $5M. This is vital for financial protection if you are found at fault for an accident involving significant property damage or injuries.
The Link to Your Plate
Your policy does NOT include Accident Benefits; your injury coverage follows the choice you made on your basic plate registration (No-Fault or Tort).
Own a Classic or Collector Bike?
Standard insurance doesn’t always recognize the true value of a vintage ride. Through our partnership with Hagerty Insurance, we offer specialized coverage for motorcycles 1996 and older (and select newer models).
- Guaranteed Value™: You agree on the value of your bike upfront (no depreciation in the event of a total loss).
- Lower Premiums: Since collector bikes are driven less, you often pay significantly less than standard insurance.
- Expert Claims: Work with adjusters who understand the nuances of classic bike repair and parts.
Minimum Value: $2,000
Eligible for bikes 1996 & older, and select modern classics.
Smart Ways to Save on Your Premiums
1. Protect Your Bike During the Off-Season
A common misconception is that your home insurance covers your motorcycle while it’s in the garage. In Saskatchewan, your home policy generally excludes motorized vehicles. To protect against fire, theft, or falling objects while stored, keep an active Auto Policy (unlicensed in storage).
Annual Storage Cost: ~$70 – $350
2. Use Flexible Registration & Permits
You don’t have to pay for a full year of riding if you only plan to be on the road for a few months. You can choose registration periods as short as 28 days.
24-Hour Permit
~$26.66
~$26.66
8-Day Permit
~$75.94
~$75.94
Note: Permits are valid in SK and up to 17km into Alberta.
3. Opt for Reduced No-Fault Coverage
For experienced riders looking to lower their basic plate costs, SGI offers a Reduced No-Fault option. By choosing slightly lower injury benefits, you can see significant savings:
- Small Engines: Typically, a 5% discount.
- Large Engines: Discounts can reach up to 30%.
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Last updated:
Posted in Personal Property on April 25, 2019 by Harvard Western Insurance
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