MPI lowers 2007 auto rates; offers 10% rebate for 2005-06 year

Manitoba Public Insurance (MPI) has lowered auto insurance rates for three-quarters of the provinces vehicle owners in 2007.In addition, it is offering a 10% rebate on premiums paid during the 2005-06 year.The rates taking effect today are 2.6% lower overall than rates in 2006-07, marking the eighth year out of the last nine in which [MPI] has held the line or reduced basic Autopac rates without lowering customer service or reducing coverage, MPI announced in a press release.Premiums will decrease for 644,050 out of MPIs 864,086 policies. For about 21% of those receiving reductions, the decrease is expected to be $40 or more.About 31% will see their premium decreased by $30, and roughly 40% will pay $20 less. The average family passenger vehicle premium will be $805, a reduction of $25.Renewal dates for customers are staggered throughout the year, so some vehicle owners will not pay the new rates until February 2008.By early May, the corporation also expects to have a 10% premium rebate ordered by the Public Utilities Board in the hands of customers who paid for basic Autopac during the 2005-06 insurance year, MPI announced.The Cdn$60 million rebate will be the second rebate in as many years, MPI says. In all, more than 600,000 cheques will be sent out with the average being worth about $100.In total, nearly Cdn$200 million will have been returned to customers over the last six years, MPI president and CEO Marilyn McLaren said in a statement. No private auto insurer can make such a statement.