Latest Automotive News

Subscribe in a reader




Auto Price Quote
Get a free auto price
quote from Edmunds!

Saskatchewan Government Insurance sending out rebate cheques

Email   small font medium font large font

Google
 
Web AutoNews24h.com

REGINA (CP) _ The rebate cheques will be in the mail by the end of May as Saskatchewan Government Insurance's auto fund returns a portion of its $60 million surplus from last year, Glenn Hagel, minister in charge of the Crown corporation, said Thursday.

A one-time eight per cent rebate is being calculated on owners' 2005 vehicle insurance premiums. The average cheque will be $87.

All vehicles, both privately and commercially owned, are eligible for the rebate, including snowmobiles and trailers.

The eight per cent will be applied before Safe Driver or Business Recognition discounts are calculated, said Hagel. About 520,000 customers will be getting the rebates.

The auto fund will also stay at current rates for the sixth year in a row, said Hagel.

Fewer collisions were mentioned first by Hagel when explaining why the rebate is possible.

``Most Saskatchewan motorists are safe drivers and safe drivers mean fewer collisions,'' he explained.

``Fewer collisions combined with increased investment earnings and sound fiscal management have all contributed (to) the 2005 auto fund experience.''

Good weather also likely contributed to the profitability of the auto fund, said Hagel.

But Dan D'autremont, the Saskatchewan Party's critic of SGI, said a rise in stock market returns is the biggest reason SGI can hand out rebates.

``It's a political exercise as much as a means of returning the money to the vehicle owners,'' he suggested.

``Do they expect drivers in Saskatchewan are going to be eight per cent worse next year? If they're doing such a good job of managing, if their safety programs are doing such a good job, shouldn't this be an ongoing reduction?''

Hagel countered that a cut in rates might lead customers to grow accustomed to a lower rate that may not continue beyond this year.

``This has been a special year and that has enabled us to be in this one-time position. We can't predict with absolute certainty that this will continue,'' said Hagel.

Receive the latest automotive news by email!

Enter your email address:


Find the new car you want on cars.com

Related news
REGINA (CP) _ More than half a million drivers in Saskatchewan will be getting refund cheques from the province when their automobile insurance rates drop July 1. Roughly 531,000 drivers ...
Manitoba drivers are getting another rebate on their vehicle insurance. Manitoba Public Insurance has announced a 10 per cent rebate for everyone who paid auto insurance this year. The Crown corporation also received regulatory ...
Canadian car buyers now have more choices if they want to purchase a new vehicle that meets the federal government's green rebate program. Thirty-two vehicles from the 2008 model year now qualify for ...
EDMONTON (CP) _ Albertans won't be getting a break on their auto insurance premiums after this year's provincial rate review. The government-appointed board that sets rates for mandatory policies has decided to hold ...
HALIFAX (CP) _ Nova Scotia's NDP leader says his party is still committed to introducing public auto insurance, but it's a little further down the pecking order this campaign. Auto insurance was a ...
General Motors today delivered its first hybrid vehicles in the Middle East to the Government of Dubai and the Dubai Roads and Transport Authority (RTA). The vehicles, which include the Chevrolet Tahoe hybrid ...
WASHINGTON (AP) _ Technology that prevents a drunken driver from starting a vehicle holds the promise of greatly reducing alcohol-related deaths, the U.S. government and auto safety groups said Wednesday. So far, however, the ...
WASHINGTON (AP) _ The U.S. government wants new passenger vehicles to provide head protection in dangerous side-impact crashes, which kill thousands of motorists every year and leave others with serious brain injuries. The National ...
Accident InsuranceBy Paul Rogers (AutoNews24h.com) Most of us who live and work in the world today probably have some sort of accident insurance. While some of us are surely ...

Best Investment Newsletter

- 46% in 2008

- invest in the best performing US stocks only and sell them when the uptrend is over

- very easy to follow, simple buy/sell signals

- no need to have investing or trading experience

Find More Now!


Saskatchewan Government Insurance sending out rebate cheques
> © 2006-2011 AutoNews24h.com except where otherwise noted