I got my renewal in the mail yesterday,which is two weeks later than usual. In Saskatchewan, insurance is a whole lot simpler than it seems to be elsewhere. No matter the insurance agency or who owns it, it has to be sanctioned by SGI (the provincial governing body). Rates for all vehicles are the same, no matter the agency. Coverage for my suv is the same as someone up north or someone down south. This provides basic insurance coverage for your vehicle and is fondly referred to as your 'plates'.
Folks can choose to get a package policy on top which extends coverage, has lower deductibles etc. Those vary and seem closer to what I see advertized on TV for other places.
We can auto pay monthly or we can pay for the year outright. I pay outright with DS for his plates but I pay monthly for mine. Since I started documenting and keeping my monthly budget in Sept 2009, my amount has been $86 and change.
I was surprised to see that my monthly rate has gone up approximately $10. When I went in to sign my papers I asked about the increase and she pointed out the different insurance changes. Light vehicles like mine went up 1.5% Trucks went up. There was a whole big list. Snowmobile insurance went down. Hearses went down by 40%!!
Anyhoo, I guess I couldn't keep on paying the same rate forever, so I shouldnt have been excessively surprised. I came home and rejigged the budget, adding $10 to the insurance category and taking $10 away from the planned savings category.
It was interesting looking at my monthly jar money. I haven't changed it since Sep 2009. Interesting. Perhaps it is time to re-examine matters.
Tuesday, Nice weekend!
1 day ago
5 comments:
It is never a bad idea to take a second close look at your budget and shift things around. Sucks your insurance has gone up. My parents' insurance has gone down for the last 3 years, and it's a big relief. This time, it only went down by $3/mo (ha-ha-ha...), but hey, it's something.
Have you ever looked into paying your insurance in advance- or would it even be an advantage for you to do so? Here in BC, interest is charged if we pay monthly - something like 8% I believe.
Jennifer
Jennifer - I did check a couple years ago when the monthly payment concept was new here. All we ever had before was yearly. There was only a small difference....less than $50 I think, saved by paying for the whole year up front.
I live in BC and choose to pay mine outright. It is cheaper than paying monthly, and I've been being good about putting aside a monthly amount to cover it in the end. Messed things up a bit by buying a new vehicle this year, but it will all sort out.
that is a great run in not having to change the budget much! Good for you! :)
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