Saskatchewan Government Insurance (SGI) customers will be receiving a $100 rebate for each registered vehicle, the Crown corporation announced Thursday.
SGI said anyone with a vehicle registered as of March 9, 2022 will receive the rebate. All classes of vehicles are eligible, while trailers and snow mobiles are not.
The initially estimated $95 million cost of the rebates will be taken from SGI’s Auto Fund Rate Stabilization Reserve, which acts as a rainy day fund.
“Our government is pleased to deliver this benefit back to the people of Saskatchewan,” Minister Responsible for SGI Don Morgan said.
“The Rate Stabilization Reserve has a surplus that was largely generated by 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. All drivers are facing higher fuel costs, regardless of what they’re driving.”
SGI said it expects to prepare more than 700,000 rebate checks over the next number of weeks.