SGI says it will rebate customers $100 this spring.

The government insurance provider says everyone who registers a vehicle pays into the Auto Fund which SGI describes as a not-for-profit basic vehicle insurance program. And the Auto Fund has a Rate Stabilization Reserve (RSR) that acts as a “rainy day” fund to cushion customers from sudden increases in their vehicle insurance.

Minister Responsible for SGI Don Morgan says, “The Rate Stabilization Reserve has a surplus that was largely generated by its well-performing investment portfolio. We believe it’s fair that all Auto Fund customers benefit equally, regardless of how long their vehicle was registered or the premium they pay for that vehicle. All drivers are facing higher fuel costs, regardless of what they’re driving.”

Rebates of $100 will be provided to the owner of each vehicle or motorcycle that was registered as of March 9, 2 022. All classes of vehicle (private, commercial, farm etc.) are eligible. Trailers and snowmobiles are not.

Initial estimates put the total cost of the rebates at approximately $95 million dollars and it is expected more than 700,000 rebate cheques will be issued. Rebates will be issued to the person or entity listed as the registered owner. Customers who had multiple vehicles or motorcycles registered as of March 9, 2022, will receive rebates for all vehicles combined into one cheque.