Saskatchewan Government Insurance is giving a rebate to people who had a registered vehicle as of March 9.
The rebate is coming from the auto fund and applies to all classes of registered vehicles and motorcycles, including private, commercial and farm, but excludes trailers and snowmobiles.
Don Morgan, minister responsible for SGI, said the rate stabilization reserve, which acts as a rainy day fund to protect customers from sudden insurance increases, has a surplus largely due to its “well-performing investment portfolio.”
“We believe it’s fair that all Auto Fund customers benefit equally, regardless of how long their vehicle was registered or the premium they pay for that vehicle,” Morgan said.
“All drivers are facing higher fuel costs, regardless of what they’re driving.”
Initial estimates from SGI place the total cost of the rebate at $95 million.
SGI said more than 700,000 rebate cheques will be issued in the coming weeks. Customers with multiple registered vehicles will receive one cheque for all their registered vehicles.
It’s the second straight year SGI has issued rebate cheques.
In 2021, SGI issued a rebate of roughly $285 per vehicle to registered vehicle owners.
Morgan said at the time the rebate was due to strong investment returns in the rate stabilization reserve along with lower injury claims.