Saskatchewan Government Insurance asks to hike vehicle rates by 5.2%

REGINA – Insurance costs could go up an average of $49 a year for most vehicles, if a request made by Saskatchewan Government Insurance is approved.

SGI has submitted a proposal to the Saskatchewan Rate Review Panel for a net increase of 5.2 per cent on vehicle insurance rates.

That means about 84 per cent of vehicles would see rate increases, while about 16 per cent would see a drop of about $12 or have no change.

SGI president and CEO Andrew Cartmell says the rate hike is needed, because the number of claims in the province continues to grow and auto body labour rates are increasing too.

Motorcycles would receive a flat 2.7 per cent increase – the average required for all other vehicles, and a 3.7 per cent capital amount would be applied on top of that increase.

If approved, the rate changes come into effect at the end of August.