SGI to hand out a one-time, 8% rebate

SGI is giving its customers a one-time, 8% rebate in 2006.
“SGI has not increased rates for vehicle insurance for five years and there will be no rate increase again this year,” the minister responsible for SGI, Glenn Hagel, said in a press release. “Instead, SGI’s Auto Fund will be giving Saskatchewan vehicle owners an 8% rebate on the insurance premiums they paid for 2005 coverage.”
Hagel said the Auto Fund had another strong year financially, thanks in part to safer driving by Saskatchewan motorists. “Fewer auto collisions increased investment earnings, and sound fiscal management helped put the Auto Fund in a financial position to provide this rebate,” he said.
The rebate applies to privately-owned and commercial vehicles. The rebate will be calculated based on a customer’s vehicle insurance premium, prior to any discounts earned through the Safe Driver Recognition or Business Recognition programs.
“Last year, SGI doubled the maximum discount under the Safe Driver Recognition program to 20%,” Hagel said. “This year, we are providing an across-the-board rebate of 8%.
“In total, Saskatchewan vehicle owners will earn over $120 million dollars back on their 2005 insurance premiums – $45 million through the one-time rebate, and another $75 million through safe driver discounts,” Hagel said.
SGI is currently processing the rebates; cheques will be mailed to customers by the end of May. Approximately 520,000 vehicle owners will receive a rebate.
“Saskatchewan has the lowest auto insurance premiums in the country. It’s one of the most important things we do for our customers and it’s a long-standing goal we intend to keep,” Hagel said.