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.
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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.”
REGINA The Government of Saskatchewan announced it has approved a one-time rebate of $285 million to be paid out to SGI customers. In a release, the province said while details are still being finalized, the average rebate will work out to approximately $285 per vehicle, or approximately 26 per cent of average annual premium. “It’s based on the average of what [drivers] paid. So, if you have vehicles that were more expensive to insure then your rebate is naturally higher,” Minister Responsible for SGI Don Morgan said. “If you’ve got a number of vehicles, then you will receive a larger sum as well. It will apply to trucks, cars, trailers, school buses – all vehicles that are registered in the province.”
“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.” 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. The RSR is one of the reasons that SGI customers enjoy, on average, the lowest rates for basic auto insurance in Canada and have not experi