SGI customers who own a light vehicle might notice something different the next time they file a claim.
The provincial insurance company has bumped up the insurance rates for light vehicles, to ensure fairness “when it comes to insurance costs”.
Minister Responsible for SGI Joe Hargrave says the adjustments are “revenue neutral” and “will not generate any extra money” for the crown insurance company.
The increase in rates are to match what’s called the Canadian Loss Experience Automobile Rating damage rate group table or CLEAR – which uses insurance claims data to help companies determine the likelihood of a specific vehicle involved in a claim, and how much it will cost.
Rates for 406-thousand vehicles will increase by about $2.75 per month; rates for 434-thousand vehicles will decrease by about $2.58 per month; roughly 2-thousand vehicles will not be affected.
The adjusted vehicle rates can be seen online at https://www.sgi.sk.ca/individuals/registration/rates/ratechange2017/index.html