Earlier this year, SGI announced that they will be issuing a one-time rebate to customers in the province. 

In total, $285 million will be distributed among Saskatchewan people. 

Who is eligible?  

If you’ve paid Auto Fund premiums between January 1, 2018, and December 31, 2020, and you met the residency requirements as of February 26, 2021, you’ll be receiving a cheque. 

The rebate will apply to all customers, even leased vehicles registered in your name, and vehicles registered under a business or organization. 

How is the rebate calculated?  

The amount each customer receives will vary, based on vehicle premiums paid in the previous three years. 

Media Relations Manager, Tyler McMurchy broke that down. 

“Essentially what happens is we look at whatever you paid over the course of those three years for all the vehicles you plated, add them up and divide it by three to find the one-year average. Twenty-six per cent of that one-year average is what you’ll get for a rebate.”  

If you receive a discount on your vehicle insurance as a result of a good driving record, your rebate will not be reduced as a result. On the other hand, if you have outstanding charges with SGI, that amount will come off your rebate.  

Why are we getting the rebate?  

“These rebates are possible because SGI is in a really strong financial position largely due to stronger than anticipated investment returns and – to a lesser extent, fewer collision claims due to the pandemic,” McMurchy said. 

Because of those factors, SGI’s Rate Stabilization Reserve (RSR), which is essentially a rainy-day fund, has enough finances to offer a sizeable amount of money back to customers.  

The auto fund operates on a self-sustaining basis. It does not take money from, or give money to the provincial government.  

Once the money is divvied up, there will still be enough funds in the bank for any unexpected expenses down the road, such as a sudden increase in claims.  

When will I get my cheque? 

SGI is currently in the process of figuring out how many vehicles were registered in that three-year period and who they were registered to.  

“We’re still on target to begin mailing out cheques in May and we are going to announce it when we do. When those cheques go out, people will know about it,” McMurchy explained.  

“And we’re looking at a lot of cheques, obviously, we’re talking about hundreds of thousands of vehicle owners. So that process will likely take place over the period of two to three weeks, they’re not all going in the mailbox in one day.”  

In order to ensure a smooth distribution process, you're encouraged to go to MySGI.ca - or visit SGI in town - to verify your mailing address.