Edmonton, AB (May 21, 2019) \u2013 Roughly half of Saskatchewan drivers are underinsured, carrying only the minimum $200,000 in third-party liability coverage that comes standard with basic licence plates, according to a new report by the Insurance Brokers Association of Saskatchewan (IBAS).<\/p>\n
The report, compiled by a 16-member advisory committee, warns this limit is generally insufficient, and outlines six recommendations to better protect consumers. Comparatively, next door in Manitoba, more than nine in 10 drivers have liability coverage of at least $1 million.<\/p>\n
\u201cSaskatchewan\u2019s public auto insurance system is unlike any in the country, and it is one of the most stable and affordable,\u201d explains IBAS CEO Derek Lothian. \u201cBut the fact remains many drivers in the province don\u2019t understand basic insurance is not enough to properly protect themselves from all accidents \u2014 especially those caused by them and their vehicles.\u201d<\/p>\n
Failure to carry sufficient liability coverage could leave drivers on the hook to provide out-of-pocket compensation for property damage, injury or death to another person, or a victim\u2019s loss or lost potential of income. IBAS strongly suggests drivers seek advice from a licensed broker and consider purchasing increased liability limits through extended auto insurance \u2014 also known as package policies<\/em>.<\/p>\n \u201cThe percentage of Saskatchewan drivers with only $200,000 in liability coverage is inadequate, represents a significant consumer and public safety risk, and must be addressed,\u201d says Lothian. \u201cDrivers, industry, and government \u2014 we all have a role to play in bridging the gap while promoting competition and affordability in the marketplace, enhanced choice and education for consumers, and the independent advice that is available only through the broker channel.\u201d<\/p>\n Click here<\/a> to read the full report.<\/p>\n About Insurance Brokers Association of Saskatchewan (IBAS)<\/b><\/p>\n The Insurance Brokers\u2019 Association of Saskatchewan (IBAS) is a voluntary, membership-based organization, comprised of more than 95% of the independent insurance brokers across the province. Established in 1952, IBAS represents the interests of its members to government, the insurance industry, as well as the public at-large. It promotes excellence in service and training to ensure consumers benefit from the highest levels of professional knowledge and ethical representation available in the marketplace. For more information, visit www.ibas.ca<\/a>.<\/p>\n SOURCE: Insurance Brokers Association of Saskatchewan (IBAS)<\/i><\/p>\n Tags: auto insurance<\/a>, driving safety<\/a>, Saskatchewan<\/a> Read the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Action needed: Insurance Brokers Association of Saskatchewan Edmonton, AB (May 21, 2019) \u2013 Roughly half of Saskatchewan drivers are underinsured, carrying only the minimum $200,000 in third-party liability coverage that comes standard with basic...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15021"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=15021"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15021\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=15021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=15021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=15021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}