Those wondering how much they’ll receive for their upcoming SGI rebate, can now calculate it for themselves.
SGI has created a webpage showing the formula used to calculate each rebate, set to be sent out in May.
SGI Spokesperson Tyler McMurchy says to make the calculation, you need to know one thing.
“What you need to know first is what you paid in auto fund premiums over the last three years, or have a general idea, so you can get a ballpark figure at least,” said McMurchy.
The formula for the rebate is as follows: Rebate = Total Base Insurance Premium Paid for last three years ÷ 3 x 26%
While initial estimates showed residents would receive an average rebate of $285, McMurchy says many people could receive more than that.
“If you registered more than one vehicle, or if paid more than $1,100 to register a single vehicle, if you have a trailer that you plated, or a motorcycle, or a snowmobile, that will all get added as well,” said McMurchy. “That is included in the total number, so many people will be receiving more than $285.”
McMurchy emphasizes the only thing you have to do receive your rebate is make sure your address with SGI is current.
More information on the rebates can be found on SGI’s website.
