SGI wants to raise rates 2.3%
CBC News
Posted: Feb 15, 2013 11:57 AM CST
Last Updated: Feb 15, 2013 11:56 AM CST
SGI says it's rebalancing rates, so some rates will go up and some down. (CBC)Saskatchewan drivers could see their insurance rates going up an average of 2.27 per cent starting Aug. 31.
Saskatchewan Government Insurance wants to rebalance rates, so that most people will see either an increase or a decrease.
About one per cent of the increase is a special surcharge that SGI wants for three years to replenish its rate stabilization reserve. That's the fund the company uses in years when there are higher-than-normal claims, to avoid dramatic rate increases.
The company says a little over half of all drivers will see their registration costs rise as a result of its request, but some will pay less.
People who use motorcycles could be in for an increase, the Crown corporation says.
It will be up to the Saskatchewan Rate Review Panel to make a recommendation about the rates.
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