hp

by Gillian Francis from https://leaderpost.com “I’m not going to say it’s all because of SGI, but I’d say three-quarters of it is.” In just over three years, Robb Hertzog, owner of the Regina motorcycle dealership Prairie Harley Davidson (click here), estimates he’s lost well over $1 million worth of sales. “I’m not going to say it’s all because of SGI, but I’d say three-quarters of it is,” he said in an interview Thursday, adding that skyrocketing insurance rates for motorcycles are leading to a decline in the amount of customers he receives. Hertzog is one of many business owners in the motorcycle industry who have voiced concerns about the increasing expenses for bike owners. SGI is considering upping insurance rates again, by 15 per cent for insurance premiums greater than $1,000 and by $25 to $150, for those that total $1,000 or less, leaving businesses with increasingly dire prospects. “They just can’t afford to ride anymore,” Hertzog said. “My younger clients are just not getting into it because when your monthly rate is as much or more than your loan payments, it makes it very, very difficult.” Earlier this week, an SGI spokesperson told the Leader-Post that increasing fees are part of a plan to rebalance insurance rates. This would lead to an annual rate decrease for some types of vehicles and in an increase for vehicles like motorcycles that are perceived to have higher accident risk. A latest proposed rate increase is being reviewed by The Saskatchewan Rate Review Panel. Insurance rates for new models with large engines, like Harley cruisers, can range from $2,000 to $3,000 per year. While this is enough to dissuade individual motorists from buying, there is also a chain reaction that extends to other parts of the industry as well. Hertzog explained the number […]