Manitoba Public Insurance will hold the line on private passenger vehicle insurance rates in the coming year.
The PUB announced today that it has approved MPI’s application to freeze overall rates for the coming year, effective March 1, 2013.
Private passenger insurance rates will remain the same. However, there will be some variance in other rates: commercial vehicle insurance will fall five per cent; registration of public vehicles will go up 3.3 per cent; motorcycle rates will drop 0.2 per cent, trailer insurance will go up 6.3 per cent and off-road vehicles will rise 14.3 per cent.
When all of these classifications are averaged out, however, the overall rate will remain the same.
But that doesn’t mean everybody will pay the same rate they did last year.
The PUB said there will be a decrease for 42.3 per cent of vehicles, an increase for 55.5 per cent of vehicles and no change in rates for 2.3 per cent.