Both SGI and SaskPower are seeking nearly eight per cent rate increases via proposals to the Saskatchewan Rate Review Panel.
SGI seeks first hike since 2014
Under the proposal, auto insurance rates would rise 3.75 per cent in June 2026 and, again June 2027. The 2026 increase would take effect on an interim basis while still undergoing the rate review process.
Inflation and repair pressures
SGI says rising repair costs and inflation are driving the need for adjustments. Over the past 20 years, the Saskatchewan Consumer Price Index has climbed 57.7 per cent, while Auto Fund rates have increased just 5 per cent over the same period. The insurer also notes that the average cost of vehicle damage claims has jumped 25 per cent, from $4,880 in 2019–20 to $6,101 in 2024–25.
SGI’s losses as of September were upwards of $230 million, according to the provincial budget forecast.
Impact to consumers
If approved with rate rebalancing, the 2026 changes would result in:
- Rate increases for about 98 per cent of vehicles, averaging $38 annually
- Rate decreases for about one per cent, averaging $8
- No change for the remaining vehicles
Rate rebalancing reflects claim frequency and costs—damage, injury, and liability—within each vehicle class, meaning individual impacts will vary.
Exclusions
To limit impacts on drivers, SGI plans to cap increases and will exclude motorcycles and urban taxis from the first year of the program while consultations continue.
SGI President and CEO Penny McCune says the Auto Fund is no longer collecting enough revenue to cover rising claim costs and can’t continue holding rates flat. The Rate Stabilization Reserve has helped temporarily, but SGI says a long‑term fix is now needed.
The proposed increases would take effect in June 2026 and June 2027, if approved.
SaskPower proposal being reviewed
SaskPower is asking the review panel to grant a 3.9 per cent hike on February 1, 2026, and again on February 1, 2027. For most residential customers, that works out to an extra $5 a month each year. Farm customers can expect about an $11‑a‑month increase in both 2026 and 2027.
The details will be posted online on the Saskatchewan Rate Review website.
Have your say
The Saskatchewan Rate Review Panel invites your comments:
- Online at saskratereview.ca in the “Contact the Panel” section
- Facebook: facebook.com/saskratereview
- Mail: 2260 McIntyre Street, Regina, SK S4P 2R9
- Email: feedback@saskratereview.ca
- Telephone Voice Message: 1-877-368-7075 (toll-free) or 306-934-194
