Regina, Saskatchewan — Saskatchewan drivers may see changes in their auto insurance rates starting tomorrow, as SGI has revenue-neutral rate rebalancing scheduled for the first of the month.
SGI says the rebalancing will not cause any change in revenue to the provincial Auto Fund, but will see 49 percent of customers receiving a decrease in their premium and 51 percent seeing an increase. The rate rebalancing will not affect motorcycle or taxi rates.
“SGI customers will continue to benefit from among the lowest basic auto insurance rates in Canada,” said Minister of Crown Investments Don Morgan, in a press release.
“A revenue-neutral rate rebalancing demonstrates SGI’s commitment to fairness across vehicle types.
SGI says customers will not see an annual increase in their premiums higher than ten percent on premiums higher than $1,000 (and a dollar cap of $100 for premiums under $1,000).
At the same time this rate rebalancing is occurring, SGI is facing unforeseen obstacles in sending rebate cheques to customers..
SGI warned customers of a spreading text message scam in a press release Wednesday, saying “If you receive the text, don’t click that link! While $100 rebates are being issued to vehicle owners later this spring, customers do not have to apply for them. Anyone who is eligible will be mailed a cheque, as long as their mailing address is up-to-date.”
The provincial insurer is recommending that anyone with questions about the spring rebate visit the real SGI website.