WINNIPEG — Motorists will be paying 2.6 percent more to insure their vehicles in the new year.
The Manitoba Public Utilities Board on Monday approved a rate increase request by Manitoba Public Insurance effective March 1, 2018.
The PUB also ordered a 1.8 percent rate increase to the demerit scale for driver premiums.
The rate increase won’t impact all policyholders equally, with rates being dependent on class of vehicle, a motorist’s driving record, make/model of a vehicle and the territory where the driver resides.
MPI had originally sought a 2.7 percent overall rate increase in its application to the PUB earlier this year.
CAA Manitoba responded to the rate increase on Twitter, telling media, “On one hand, we recognize unsafe behavior behind the wheel creates risks for road users & drives up ratepayers’ costs from at-fault collisions, which is why we support the increased premiums for drivers on the demerit side of Driver Safety Rating scale coming into effect in March.”
“However, we did not & do not support MPI’s general rate increase (2.6%) because of economic pressures on Manitobans & investment opportunities at hand for MPI. While the rate increase isn’t huge, we don’t want MPI to keep come back to ratepayers every year for an increase.”