Rebates to be Issued to Vehicle Owners this Spring The provincial government has approved the one-time rebate of $285 million. The amount each customer receives will vary, and it will be calculated based on a proportion of vehicle premiums paid in the previous three years. Details are still being finalized, but it’s expected the average rebate will work out to approximately $285 per vehicle or approximately 26 per cent of an average annual premium in Saskatchewan. The Auto Fund, which all Saskatchewan vehicle owners pay into via their insurance premiums, maintains the Rate Stabilization Reserve (RSR). Maintaining a healthy balance in the RSR protects customers against sudden rate fluctuations due to unexpected cost pressures.
SGI will pass on roughly $350 million in earnings to the people of Saskatchewan by issuing one-time rebates to all registered vehicle owners, and also improving injury benefits for its most seriously injured customers. “The Saskatchewan Auto Fund Rate Stabilization Reserve is in a very strong financial position due to very strong investment returns and – to a smaller degree – fewer collision claims due to the COVID-19 pandemic,” Minister Responsible for SGI Don Morgan said. “As a result, SGI will pass on these earnings to the people of Saskatchewan by issuing rebates to all registered vehicle owners and by improving injury benefits.”
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