Saskatchewan Rate Review Panel recommends lower insurance rates

Drivers in Saskatchewan could be paying less for vehicle insurance next year.

The Saskatchewan Rate Review Panel is recommending that the provincial government approve an overall rate decrease of 1.3 per cent instead of the revenue-neutral rate change originally proposed by the Saskatchewan Auto Fund to start Jan. 21.

Whether people see a discount on their insurance depends on several factors, including the class of vehicle they drive, says a news release from the panel.

The panel is also suggesting that base premiums greater than $1,000 be reduced from 15 per cent to 10 per cent. In its view, base premiums under $1,000 should have a scaled cap with reductions between $25 and $100.

The panel’s recommendations will be reviewed by the province with a decision to come from cabinet.