Manitoba Public Insurance plans to increase general insurance rates.
They requested a 2.2 percent overall rate increase for the 2019/20 insurance year with the Public Utilities Board.
If it’s approved that would mean the average passenger vehicle owner will pay about $27 more in premiums per year. That translates to $2.25 per month.
MPI says they are experiencing higher physical damage costs directly related to newer-model vehicles.
Over the past five years, collision claim costs have gone up about five percent per year. That’s compared to the prior long-term average of about two to three percent annually.
