SGI is seeking its first rate increase since 2014.
The Crown corporation’s two-year proposal would see rate increases of 3.75 per cent in June 2026 and 2027.
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Penny McCune, president and CEO of SGI, says the revenue they are taking in is no longer enough to cover the costs of claims.
“Inflation and advanced technology in newer vehicles have caused a sharp rise in the cost of vehicle repairs, and the Auto Fund is no longer taking in enough revenue to cover the cost of claims,” said McCune. “The Saskatchewan Auto Fund operates on a break-even basis over time, but premiums haven’t been enough to cover costs in recent years.”
According to SGI, the average cost for vehicle damage claims has increased 25 per cent from $4,880 per claim in 2019/20 to $6,101 per claim in 2024/25.
Rate increases would be capped with motorcycles and urban taxis excluded from year one of the rate program.
If approved, an annual average rate increase of $38 would be applied to about 98 per cent of Saskatchewan vehicles. The rate changes would also mean a decrease for about one per cent of Sask vehicles with an average annual reduction of $8.
Rate changes would take effect in June with all proposed rates available on SGI’s website.
The rate proposal will be available at the Saskatchewan Rate Review Panel’s website at saskreview.ca. Comments can be provided by phone at 1-877-368-7075 or by email at fe******@************ew.ca
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