MPI requests 2.2% increase in auto insurance premiums

Published: June 20, 2018

Updated: July 24, 2018

Author: Luke Jones

CATEGORY: |

Share:

Motorists in Manitoba will be paying more for their auto insurance on average in 2019, if the province’s public auto insurer has its way. Manitoba Public Insurance (MPI) has submitted a rate application premium increase to the Public Utilities Board (PUB).

The insurance company is asking for a 2.2% increase on average auto insurance prices next year, a bump in price it describes as “modest”. It is likely the increase will be accepted by PUB and passed into effect. If that happens, the rate increase will affect 547,166 vehicles in the province. CBC News reports this figure excludes off-road vehicles and trailers.

In 2019, drivers in Manitoba will be paying on average $27 more for their coverage if the increase is allowed.

“We fully recognize that our customers expect us to deliver comprehensive auto insurance coverage and service at rates that are affordable, predictable and stable over time. We believe this rate application continues to deliver on that mandate,” MPI president Ben Graham stated in a release.

It is worth pointing out that not all vehicles are affected. MPI has detailed the rates it is requesting across all categories, with an overall of 2.2%:

  • Private passenger – 2.4% increase
  • Commercial – 2.4% increase
  • Public – 0.6% increase
  • Motorcycles – 3.1% increase
  • Trailers – 4.7% decrease
  • Off-road vehicles – 20% decrease
  • Overall – 2.2% increase

The application follows last year’s request (accepted) for an average rate increase of 3.7%.