SGI Canada Group Car Insurance Review

  • SGI Canada

SGI Canada Group Insurance Company Overview

company

SGI Canada Group Insurance Company was first created back in 1945. The company has actually split into two companies over the years in order to better suit the needs of their clients. Saskatchewan Auto Fund is one of the two companies and is a company that sells auto insurance and that deals with driver’s licenses and registration. The company actually operates on a break-even basis, which means that they don’t send any money to the government or pay out dividends. SGI Canada is the 2nd company that they developed and the company offers insurance in various places throughout Canada for things like property, casualty, automotive, agriculture and even business insurance. The company did quite well in terms of making money in 2015.  In fact, SGI Canada Group made a total profit of $16,986,000 ranking them 33rd in Canada in terms of most profit made by an insurance company. This is a very impressive amount of money and an impressive ranking among other insurance companies as well.

Products Offered by SGI Canada Group Insurance

Choosing the right insurance company for your needs is by no means something that is easy to do. It is extremely important to make sure that you go with an insurance company that has the things that you need so that you aren’t stuck shopping around all over again. Taking a look through different insurance companies can take a lot of time and effort. To make things easier for you, here are the products that SGI Canada Group Insurance Company has available today:

Auto Insurance:

  • Roll over coverage
  • Collision coverage
  • Comprehensive (Mother nature)
  • Liability
  • Family Protection

House Insurance:

  • Primary home
  • External buildings
  • Yard and garden eg: trees, plants, lawn
  • Content
  • Liability
  • Identity theft

SGI Canada Car Insurance Review

If you have read through the products and are still potentially interested in SGI Canada Group Insurance Company, you might want to learn about how much money they bring in. The total auto premiums collected for a company is a good number to look at in order to be able to tell if the company is in good shape or not. You want to see a high written auto premium so that you can count on an insurance company to be able to pay you any claims that you make on your insurance. It is important to be aware that this does not guarantee that they will be able to pay the claims you make. However, it does guarantee that more people are willing to take that risk with you, which is always a good thing as it lowers the chance that the company won’t be able to follow through with paying claims. SGI Canada Group Insurance Company made a total written auto premium of $265,966,000 in 2015. This is an extremely large number and a whole lot of business had to be done in order to get it.

SGI Canada Car Insurance Products:

products

Add on coverage:

One of the best reasons to get insurance through SGI Canada Group is to take advantage of the many add-on coverages that they have. The company allows you to easily be able to do things like adjusting your liability, and accident forgiveness and even increase your accident benefits. Things like loss of use coverage, getting rid of vehicle depreciation as well as getting coverage for non-owned automobiles are also coverage’s you can grab.

Deductible:

One of the best ways to reduce your insurance premium is to raise your deductible. This essentially means that your insurance company won’t be on the hook for repairs on your vehicle in the event of a serious accident. If you choose to pay a lower deductible it will raise your monthly premium and if you choose a higher deductible you can lower it. It is definitely nice to have these options as not all insurance companies are this flexible.

Basic Coverage:

One very cool thing about SGI Canada Group Insurance Company is that their standard policies do offer several perks. The company’s basic coverage does cover you for property damage as well as for standard accident benefits. One additional policy you might like is that the insurer covers new vehicles for the first 14 days after purchase, which essentially means you have a bit of time before you have to decide if you want to get vehicle depreciation coverage or not.

Discounts:

One of the biggest reasons consumers change their insurer is due to high premium insurance rates. SGI Canada Group Insurance Company has a lot of discounts available for their customers to give them an incentive to stay with them. Here is a list of some of the many discounts that the insurer offers its customers:

  • Renewed policy
  • Safe driving record
  • No convictions in 3 years
  • Retired
  • Vehicle or vehicle and house bundling
  • Agriculture
  • New drivers with safe record
  • You have a dependant living away from home at least 100 km away
  • Winter tires are installed

SGI Canada Total Sales/ ranking by province:

ranking

One of the toughest parts you may find when shopping for an insurance company is how easy a company is to get a hold of. Many companies only sell insurance in certain provinces and in order to find a good company, you are going to want to find one that does a lot of business in your province. This is a good idea as the best companies in each province generally have tailor-made policies towards that particular province and prices that are very reasonable. To help you be able to decide if SGI Canada Group Insurance Company does enough business in your area to get insurance through them, we created a table. The table shows the direct written auto premiums that the company collected in each province compared to the top 30 insurance companies in each province. Here is what we found:

Province:Direct Written Premiums 2015Ranking on Top 30
NewfoundlandN/AN/A
Prince Edward IslandN/AN/A
Nova ScotiaN/AN/A
New BrunswickN/AN/A
QuebecN/AN/A
Ontario47,350,00026
Manitoba44,00017
Saskatchewan159,101,0001
Alberta59,428,00015
British Columbia1,00030
Yukon Territory11,00025
Northwest Territories22,00026
Nunavut9,00025

Resources:

https://www.sgicanada.ca/auto

https://www.sgicanada.ca/house

https://en.wikipedia.org/wiki/Saskatchewan_Government_Insurance