SGI announces rebate of $100 per registered vehicle

Gas, food and everything else continues to get more expensive, but people in Saskatchewan are getting a bit of relief.

SGI announced a rebate Thursday.

The Crown corporation is to pay $100 to customers for every vehicle they have registered. It expects to be writing 700,000 cheques.

To qualify, a vehicle has to have been registered on or before Wednesday.

The cash is coming from the Rate Stabilization Reserve which, according to SGI, “acts as a ‘rainy day’ fund to cushion customers from sudden increases in their vehicle insurance.” The reserve has a surplus because its investment portfolio has done well.

In a media release, Don Morgan, the minister responsible for SGI, explained why the rebate is the same for every customer.

“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,” he said.

All vehicles and motorcycles are eligible, though trailers and snowmobiles are not.

SGI expects the rebate to total $95 million across the province.

It will begin to send out cheques later in the spring, though it hasn’t yet picked a specific date.