Cabinet approves SGI rate hike of 4.4%
Increase is less than what the Crown corporation requested
Most Saskatchewan drivers will soon be paying more to insure their vehicles.
The province has approved a 4.4 per cent overall increase in rates to the Saskatchewan Auto Fund.
The changes take effect August 31.
In addition to the rate increase, Saskatchewan Government Insurance is also rebalancing its rates.
The province says in a news release that the overall effect will see 82 per cent of drivers receiving a rate increase, averaging $44 per year. The remaining drivers will see their rates go down.
When SGI applied for a rate increase, it said it needed a 5.2 per cent boost. But the Saskatchewan Rate Review Panel recommended a lower amount.