MPI Wants More Of Your Money
WINNIPEG, MB – Manitoba Public Insurance is asking the Public Utilities Board to raise rates by 2.7%.
If the rates are approved, the average passenger vehicle owner will pay $29 more in premiums per year.
“The overall premium revenue requirement for the Basic insurance program in 2018/19 results from an ongoing focus on fiscal prudence and cost containment, which results in a direct financial benefit for Manitoba rate payers,” Dan Guimond, president and chief executive officer of Manitoba Public Insurance said today. “Without these efforts, the indicated rate requirement would have been significantly higher at 7.7 per cent,” said Guimond.
“We recognize that our customers expect us to deliver comprehensive auto insurance coverage and service at rates that are predictable, stable and among the lowest in all of Canada. We believe this application continues to deliver on that mandate,” added Guimond.
The rates would bring the average premium for passenger vehicles to $1,086.
Here are the proposed rates for a vehicle classes:
|Major Use||Applied for Rate Changes|
|Overall (applied for)||2.7%|
Spencer Fernando, MyToba News