Basic compulsory motor vehicle premiums are going up by 1.8 percent next year.
MPI was approved for their over-all general rate increase which will go into effect on March 1st.
The general rate increase doesn’t mean that rates for all motorists will experience a rate adjustment.
Adjustments to specific classifications of vehicles will be determined based on MPI’s rate design.
Rates paid by individual policyholders within each class will be determined based on their driving record, the registered vehicle, the purpose the vehicle is being used, and the territory in which the policyholder resides.
