Trusted Regina Insurance experts at Campbell and Haliburton Insurance Inc have been in the community for over 50 years. They know it is customer service and knowledge that counts when you are in need of an insurance company in Regina. Campbell & Haliburton Insurance, myCH.ca, dedicated insurance brokers in Regina can assist you with finding the plan that works best for you. In their latest Trusted Regina Insurance Tip, they share a tip on Basic Auto Damage Insurance
. In our latest Campbell & Halliburton Regina auto insurance tip, we share important information from SGI that explains basic auto insurance coverage.
When you register a vehicle, you pay a flat registration fee and get a basic package of insurance on your plates. The insurance includes:
- coverage for damage to your vehicle, subject to a deductible
- personal injury insurance from a vehicle collision
- liability insurance for damage your vehicle causes to another vehicle or property, or injury to others
Vehicle damage and your deductible.
Physical damage your vehicle suffers from a collision is covered by your basic plate insurance, subject to a deductible. The deductible is the amount you must pay before your basic plate insurance covers the rest of the costs. Most vehicles with basic plate insurance have a $700 deductible.If you have minor damages that will be less than your deductible to fix and you won’t make an insurance claim, you can pay for the repairs on your own. This is also true if you are responsible for the damage.
The chart below shows the specific deductible amount that applies based on the class of the vehicle.
| Class |
Vehicle Type |
Deductible |
| Class A |
Light vehicles (under IRP) |
$700 |
- Heavy trucks
- Heavy cargo vans
- Power units
|
$2,500 |
- Pro-rated heavy trucks
- Cargo vans
- Power units
|
$15,000 (optional) |
| Class C |
- Heavy trucks
- Heavy cargo vans
- Power units
|
$700 |
| Class D |
- Heavy trucks
- Heavy vans
- Power units
|
$700 |
| Class LV |
- Passenger vehicles
- Motorcycles
- Motorized bicycle/pedal cycle
- Antiques
|
|
| Class MT |
Snowmobiles |
Not applicable1 |
| Class PV |
- Heavy trucks
- Heavy vans
- Power units
|
$700 |
| Antiques |
$500 |
| Class TS |
|
$500 |
| Class T |
- All trailers (except metal or fibreglass/other cabin trailers
|
$400 |
- Metal cabin trailer
- Fibreglass/another cabin trailer
|
- Based on customer declared value:
- Valued at $1,000 or less - $400
- Valued at $1,001 or less - $500
|
Who pays the deductible after a collision?
Whether or not you pay your deductible depends on who caused the collision and if your vehicle has been damaged.
| Situation |
Pay deductible? |
Details |
| You’re responsible for the collision |
Yes |
If the cost to fix your vehicle is more than your deductible, your basic plate insurance covers the difference. |
| You’re not responsible for the collision |
No |
The responsible driver’s insurance covers the cost to fix your vehicle. |
| Your vehicle wasn’t damaged in the collision |
No |
If your vehicle isn’t damaged, you don’t have to pay your deductible. This applies if you’re responsible for the collision or not. If the other driver’s vehicle is damaged, your insurance covers the cost to fix it. |
| You and the other driver are equally responsible for the collision and your vehicle was damaged |
Yes – you pay half |
If the cost to fix your vehicle is more than half your deductible, your basic plate insurance covers the difference. |
| You and the other driver are equally responsible for the collision and your vehicle was damaged, but the other driver is uninsured or from outside Saskatchewan |
Yes |
You pay your full deductible up front but SGI will try to get half of it back from the other equally responsible driver. |
Your vehicle is stolen, vandalized, or damaged from a:
- hit and run
- storm
- fire
- collision with an animal
- single-vehicle collision
|
Yes |
You pay your full deductible when there’s no other party to collect it from. |
Deductible Payment Plan
If you have basic plate insurance and you're eligible, you can use the Deductible Payment Plan to pay your deductible over 10 months.
Reduce your deductible
If you want to pay a smaller deductible, you can buy an SGI CANADA Auto Pak with the deductible option that works best for you.
Coverage for vehicle damage
Your vehicle is covered for its actual cash value. This is the market value of your vehicle when compared to similar vehicles, with similar equipment, mileage and condition as your vehicle.
Coverage limitations
There are some limitations on vehicle damage coverage. For example:
- Loss or damage to a vehicle insured under antique use
- $800 less your deductible of $500
- Loss or damage in classes A, C, D or TS (commercial trailers)
- unless it says otherwise, limited to $15,000 or the declared value, less your deductible
- After-market audio, visual, sound or communication equipment
- capped at $1,500 per incident or collision - $2,200 less your $700 deductible
If your vehicle is damaged, take steps to make sure more damage doesn’t happen. For example, if your vehicle's window is broken, put a plastic cover over the window to prevent water damage from rain.
Extra damage coverage
For increased protection, you can choose to buy extra damage coverage with an auto extension policy through your insurance broker.
Liability insurance
If you’re responsible, or liable, for a collision, you’re responsible for the cost of the damage you’ve caused, which includes:
- damage to personal property
- physical injury or death to another person
- a victim’s lost or potential income
Your basic plate insurance includes $200,000 of liability coverage. If you’re responsible for losses more than $200,000, you’ll have to pay for the difference out of your own pocket.
Increase your liability insurance
If you'd like to increase your liability insurance coverage, you can choose to buy an auto extension policy through your insurance broker with the liability coverage limit you like best.
Examples of coverage
Example 1: You're responsible for a collision that causes a fair amount of damage to another vehicle. The other driver also has minor injuries and needs 3 months of physiotherapy after the collision.
| Total cost of other driver's injuries and repairs |
$15,000 |
| Total paid by SGI |
$15,000 |
| Total paid by you |
$0
|
Example 2: In the same collision as above, your vehicle also needs a few repairs:
| Total cost of repairs to your vehicle |
$1,000 |
| Total paid by you (deductible) |
$700 |
| Total paid by SGI |
$300 |
Your total cost for this collision is $700. Without the liability insurance included in your basic plate insurance, you would have been responsible for $15,000 from your own pocket.
As you climb into your vehicle the next time, you can do so with the assurance that you are covered with the auto insurance that best meets your needs. If you don’t have an insurance broker and want to talk to someone who is truly passionate about your insurance, contact Campbell & Haliburton Insurance.
Our Trusted Regina Insurance Agents at Campbell & Haliburton have your best interests and safety in mind and our commitment to customer service is one of the pillars of our business. We also know insurance inside and out, so please contact us for all of your insurance needs and we will be more than happy to help ensure what you value most is protected.
**(This is a general overview. There are many different insurance companies, and there are always differences in insurance policies. For specific details on your policy and coverage, we recommend that you contact your agent or broker.)
Trusted Regina Insurance experts at Campbell and Haliburton Insurance Inc have been in the community for over 50 years. They know it is customer service and knowledge that counts when you are in need of an insurance company in Regina. Campbell & Haliburton Insurance, myCH.ca, dedicated insurance brokers in Regina can assist you with finding the plan that works best for you. In their latest Trusted Regina Insurance Tip, they share what you need to know about renter's insurance.
You have found a place to rent. Fantastic! You have arranged for movers (whether professional or friends to help). Great! You have even downloaded an app to help you decide how to arrange your furniture. Fun! But what about renter’s insurance?
Renter's Insurance
Renter's Insurance, sometimes called tenant insurance, can sound scary, complicated, and worse still expensive. But it does not need to be all that difficult. And often people find it to be less expensive than they first thought.
At Campbell & Haliburton Insurance, myCH, we can help unravel the mystery of renter’s insurance. Most renter’s insurance policies will protect you in two important ways – both your contents and your liability.
Caveat: There are a number of insurance companies that sell renter’s insurance here in Canada. There are similarities between them but also differences. This is not designed to be the definitive word on what each individual policy covers. Rather it is designed to provide a “broad brush” overview of what renter’s insurance does. For specifics on what your policy does, and does not provide, please speak with your broker or agent.
Contents Insurance
The first thing that renter’s insurance does is protect your belongings. There are two major questions that you need to answer when arranging contents insurance.
1. How Much Insurance Do I Need?
This can be a difficult question to answer. After all, most people do not purchase all their belongings at once. We acquire them over time, some new, some second hand. It can seem like an impossible task to come up with how much you have spent on your “stuff”.
When figuring out the amount of insurance that you need – ask yourself the question, “If I needed to buy everything brand new, what would it cost?” Most renter’s insurance policies are based on “replacement cost.” Replacement cost means the amount that it would take to purchase what you had with brand new items.
Many people fall into the trap of thinking, “But my things are old; they are not worth that much.” That may be true, but when it comes to insurance ask the question: "What would it cost if you needed to go on a shopping spree and buy everything brand new?" When thinking of this, remember that most policies will allow you to purchase the same kind and quality as what you had. So, if that old couch is very well made you would be able to purchase the same quality of couch in the event of a claim.
Many insurance companies have a minimum amount of contents insurance that they will provide, for example, $30,000 is quite common. Would that amount be enough? It is a good starting point, but everyone has a unique set of belongings and everyone has a different set of needs.
One tool that is available is a record of your belongings. This can be found on SGI's website. While it is not strictly necessary to complete a record like this, it is a valuable tool in determining how much insurance you need.
2. What Kind of Insurance Do I Need?
Once you have determined how much insurance you require, the next question to ask is what kind of insurance best meets your needs. There are essentially two different types of contents insurance: a more basic form of insurance and more comprehensive insurance.
Named Perils Insurance
The first form of insurance is named perils. It has different names depending on the insurance company. It may be called Pak I or Broad Form. Each company has a different name. So please do not rely on the name, make sure that you understand what it actually provides.
As the name implies, “Named Perils” provides insurance for a specific number of perils. A peril is an event that is unexpected and accidental.
Common named perils would include:
FireLightningExplosionSmokeFalling ObjectImpact of Aircraft, Spacecraft of Land VehicleWind/HailWater EscapeVandalismTheft
For a named perils policy to respond, one of the specifically listed named perils would have needed to occur. If something other than one of the specially listed things happened there would be no insurance. Named Perils policies often specifically define some of the terms and restrict what is, and is not, covered by them.
Comprehensive Perils Insurance
The second form of contents insurance is comprehensive insurance. As the name implies, this is a much broader form of insurance than is named perils.
Named Perils Insurance specifically tells you what is covered, Comprehensive Insurance tells you what is not covered. It is often called all-risk insurance as it covers all risks except those specifically excluded.
Typical exclusions would include:
- Flooding
- Seepage
- Exclusions when the property is vacant
- Pet Damage
- Normal Wear and Tear
There are some day-to-day advantages of comprehensive insurance over named perils.
- The first is a philosophical difference. With named perils insurance the onus is on the insured (person who purchased the insurance) to show where something is covered. With comprehensive insurance that responsibility is shifted to the insurance company. Unless they can point to a specific exclusion, the insurance company must pay the loss.
- Accidental Damage – Comprehensive Insurance typically provides insurance for accidental damage whereas named perils does not. For example, if a person dropped a big-screen television or spilled a glass of red wine on the couch most comprehensive insurance policies would provide coverage whereas named perils would often not.
- Mysterious Disappearance – Named Perils policies typically cover if things are stolen, but not if they are lost. Comprehensive insurance often covers loss as well. If your diamond ring goes missing or the gem falls out of it comprehensive insurance would usually respond and pay the claim where named perils would likely not.
- Smoke – Some named perils policies provide very restrictive coverage for smoke damage. Comprehensive Insurance provides much better coverage for things like candle smoke.
So which policy is better for you? Comprehensive insurance is a significantly better policy than a Named Perils policy is. Typically, the price difference, on a renter’s policy, is not that much between the two. If your budget allows for it, we recommend Comprehensive Insurance.
With renter’s insurance, as with most kinds of insurance, there are a few things to be aware of:
- Insurance policies carry with them a deductible. A deductible is a portion that you must pay in the event of a loss. For example, if you have a $500 deductible you would be responsible for any amounts up to the first $500 of any claim.
- Whenever you file a claim you can expect to see your premium increase.
- Most policies have specific items that they put limits of insurance on. For example, there are maximums that will be paid out for things such as jewelry, stamp or coin collections, or bicycles to name a few. We recommend that you review these with your broker or contact one of our helpful insurance brokers at Campbell & Haliburton.
Liability Insurance
Liability Insurance protects you if others are harmed due to your negligence. Liability insurance has two “triggers” that they use.
- Bodily Injury – Someone gets injured because of what you did or did not do. Suppose you are renting a house and are responsible for keeping the sidewalk shoveled and safe. But if someone slips on the ice and is injured you might be found by the courts to be liable. Your renter’s insurance provides liability insurance to protect you in this situation.
- Property Damage – Provides coverage when there is damage to someone else’s property due to your actions. For example, if you are cooking and cause a fire the landlord might want you (or your insurance company) to pay for damages to their house.
Liability Insurance is generally included in a renter’s insurance policy.
A few things to think of:
- Cost – In Canada, liability insurance on a renter’s policy is relatively inexpensive. Many policies provide you with $1,000,000 of liability insurance. However, the cost to increase this is generally very low. Since liability insurance is designed to protect you from potentially catastrophic events, we recommend increasing the amount of liability insurance.
- The Fine Print – Some liability insurance policies provide restrictions on when it will pay out. We strongly recommend that you speak with your insurance broker to ensure that you are aware of any limitations.
Renters insurance is a relatively cost-effective way to not only protect yourself in the event the unthinkable happens.
Our Trusted Regina Insurance Agents at Campbell & Haliburton have your best interests and safety in mind and our commitment to customer service is one of the pillars of our business. We also know insurance inside and out, so please contact us for all of your insurance needs and we will be more than happy to help ensure what you value most is protected.
Campbell & Haliburton's doors opened in 1957. Since then, they have seen run-away inflation, recessions, and now, a global pandemic. Through it all, their doors have remained open as they are committed to providing outstanding service to you. No matter what the next years and decades bring they have committed to continue to stay open to serve you.
Campbell and Haliburton Insurance are a Trusted Regina Insurance provider.
They offer many different insurance policies to protect the most important areas of your life including:
