SASKATOON — Shopping around for a new insurance company has paid off for the Manitoba and Saskatchewan farm vacation associations.
By finding a new company, members will pay a basic premium of $150 instead of $250 offered by the former insurer, The Co-operators.
Beatrice Magee, president of the Saskatchewan association, says the extra $100 was something most of the 50 members can’t afford.
And, instead of costing up to $2,000 for the vacation farms to offer customers horseback riding, the range will be $500 to $750.
The new company, which she wouldn’t identify, won’t set a minimum on the number of members required for a group policy this year but it wants about 15 to 20 to sign up for a group policy next year. Magee doesn’t think that will be a problem but membership and group insurance won’t be tied together as in the past. The members are too diverse to all have the same needs and requirements.
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“We’ve lost some members because of the insurance increase,” she said. But it’s not the only reason. Some of the members just do bed-and-breakfast and have only a few guests a year.
Manitoba still looking
The Manitoba association is still looking for the cheapest group rate possible for its 43 members, said president Bob Frost, of Elm Creek.
“I think the agent we’re working with can find a good deal for our members,” he said. He’s hoping for a basic premium of about $75, particularly for small bed-and-breakfast establishments.
Frost would still like to see membership and insurance tied together so members can see they are getting something for their money. Also the association would then know that everyone has coverage.
For consumers, membership means the farms have passed certain standards. For the vacation farms, it means gaining advertising exposure that is difficult to do on their own.
The Alberta association renewed its insurance with The Co-operators last spring and will have to wait for this spring to shop around for other options.
