Motorcyclists shocked by proposed insurance rate hikes
Published Tuesday, February 19, 2013 6:39AM CST
Motorcyclists in Saskatchewan say they're shocked at a Saskatchewan Government Insurance submission that could see their insurance costs go up by an average of 73 per cent.
While other vehicles have caps on how much insurance rates can increase for them in a given year, SGI is calling for the removal of a similar cap on motorbikes.
Don Fuller is a bike enthusiast who has been riding since 1968 and owns five bikes.
He says under the proposed changes, he could end up paying $5,300 a year in insurance for his Ducati streetbike, up from the current rate of $1,300 a year.
Guy Lumsden of a Saskatoon Harley-Davidson dealership says people would go crazy if the government hikes their power bill or gas bill by 73 per cent.
SGI is justifying the proposed rate hike for motorcycles by saying there is a wide gap between what they take in from motorcyclists in fees versus what they pay out for their at-fault collisions.