Released on February 9, 2006
SGI is putting money back into its customers' pockets with a one-time eight per cent rebate."SGI has not increased rates for vehicle insurance for five years and there will be no rate increase again this year. Instead, SGI's Auto Fund will be giving Saskatchewan vehicle owners an eight per cent rebate on the insurance premiums they paid for 2005 coverage," Minister responsible for SGI Glenn Hagel announced.
"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," Hagel added.
The rebate applies to both privately-owned and commercial vehicles. The rebate will be calculated 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 per cent. This year, we are providing an across-the-board rebate of eight per cent. 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 and 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.
More information is available on SGI's website at www.sgi.sk.ca.
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For More Information, Contact:
| Kim Hambleton SGI Communications Regina Phone: (306) 775-6907 |