Savage Cove is the most northerly sheltered harbour on the Newfoundland side of the Strait of Belle Isle. Its entrance is protected by Cooper Island (locally Gaulton's). Savage Cove received its name from having been frequented by aboriginal people at the time when the French were fishing in the area. The cove appears on early French maps as "Anse aux Savages".

The first English settler was George Gaulton, who settled after his marriage to Susan Gould of Anchor Point in the 1830s. Gaulton's Island and the south side of the cove were gradually abandoned in favor of settlement on a ridge to the northeast, along the new highway. Since that time, the majority of new home construction has taken place along the road, where most services are located. In 1993, a new St. Mark's Anglican Church was nearing completion on the highway, replacing the old church on the north side.