Manitoba Public Insurance wants 2% rate hike for 2026
Manitoba Public Insurance has filed an application with the province's Public Utilities Board to raise its rates starting next April.
The Crown insurance corporation is seeking approval for a 2.07 per cent increase to the overall rates of its universal compulsory automobile insurance for the 2026-27 fiscal year, MPI said in a Wednesday news release.
If approved, the owner of an average private passenger vehicle would pay $21 more a year, MPI said in a news release Wednesday.
The corporation says it has worked to keep insurance rates affordable in Manitoba, but insurance companies across North America are dealing with a volatile market, where the cost of claims continues to climb. Modern cars are more complex and contain advanced technology that is more expensive to repair, MPI said.
The new rates, if approved, would be effective April 1, 2026, MPI said, but because renewal dates are staggered, some vehicle owners wouldn't see the new rates until March 31, 2027.
The Public Utilities Board normally issues its order in December, MPI said in its release.
Last year, MPI requested a three per cent increase to insurance rates.
However, in January, the PUB rejected that request, and instead ordered MPI to raise its basic rates by 5.7 per cent for the 2025-26 fiscal year.
The independent regulator stated in its decision that approving the requested lower rate hike would lead to "much higher" rates in future years.
Changes to driver ratings, deductibles proposed
The corporation is also applying to the Public Utilities Board to expand its merit scale, to include a new level driver safety rating.
Currently, the scale tops out at Level 19, at which drivers get a $30 discount on their licence renewal (which has a base fee of $55) and a 48 per cent discount on their vehicle premium.
If approved, those who move into the new Level 20 would save 53 per cent on the cost of their driver's and vehicle insurance, MPI said.
MPI's rate application also proposes changing the deductible for its basic insurance, increasing it from $750 to $1,000. That change is needed to "keep the basic product affordable and comprehensive," the insurer says.
It would also add a new $750 option to the list of lower deductibles it offers, which includes $200, $300 or $500 deductible options.
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