More than half of vehicles in Manitoba expected to have no change or a decrease in premium rates next year

Manitoba’s Public Utilities Board (PUB) has approved a 0% overall general rate increase for basic compulsory motor vehicle premiums, effective March 1, 2016.

In a news release on Tuesday, the PUB noted that a 0% overall general rate increase does not mean that rates for all motorists within each major class will remain unchanged. A total of 615,474 vehicles (57.24%) will experience either no change or a reduction in rates from the previous year. Rates paid by individual policyholders with each class will be determined based on their driving record, the registered vehicle (make, model and year), the purpose for which the vehicle is driven and the territory in which the policyholder resides, the PUB explained.

In particular, based on Manitoba Public Insurance’s rate design, major vehicle classes will be impacted as follows:

• Private passenger: -0.1% change;

• Commercial: +2.5% change;

• Public (taxi): +6.3% change;

• Motorcycle: -7.6% change;

• Trailers: -3.8% change;

• Off-road vehicles: 0% change;

• Total overall: 0% change.

PUB added that there will also be no change to permit and certificate rates, vehicle premium discounts and driver licence premiums, service and transactions fees, fleet rebates or surcharges or the $40 discount on approved aftermarket and manufacturer/dealer installed anti-theft devices.

More information can be found at http://www.pub.gov.mb.ca/pdf/mpi15/128-15.pdf.