MPI aims to cut motorcycle insurance rates in Manitoba
Manitoba Public Insurance has plans to decrease insurance rates for motorcycle drivers
Manitoba Public Insurance plans to reduce insurance rates for motorcycle drivers in the province starting next year.
The auto-insurer announced the plans on Friday, revealing a rate decrease of more than seven per cent for motorcycle drivers.
MPI has to apply to the Public Utilities Board for any rate changes.
According to MPI officials, the rate decrease for motorcyclists would apply to 95 per cent of people driving motorcycles in the province – that's just over 14,000 drivers.
The remaining five per cent would actually see an increase in rates.
A very small rate decrease could come to all drivers next year as well. MPI has applied to the PUB to decrease private passenger rates by 0.1 per cent.
There are some increases planned for commercial and public vehicles.
MPI is applying to increase those rates by 2.5 per cent and 6.3 per cent respectively.
The changes, if approved, would take effect in March 2016, but because renewal dates are staggered, some vehicle owners wouldn't pay the new rates until February 2017.