Some of us might be paying more, some a little less and others might not see a change at all.
The provincial government approved a 1.6% net increase with rate rebalancing to SGI's basic auto insurance premiums on Tuesday.
"The average increase per month is about $7 per month and the average decrease will be about $6 per month." explained Donna Harpaurer, the minister responsible for Crown Insurer. "They're rebalancing, so that the vehicle classes that actually create the expenses through accident and incidents are paying a more fair cost as opposed to those that we don't have a lot of claims on."
About 45% of the province's vehicle owners will be seeing an increase, 37% will get a decrease and about 18% won't see any change at all.
The changes go into effect on August 4th.
To see how the rate rebalancing may affect you, you can see the current and proposed rates for each vehicle on SGI's website.
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