Manitoba’s Public Utilities Board (PUB) has mandated a 5% reduction in compulsory auto insurance premiums for 2024-25, effective April 1, 2024.
This decision comes after the recent resolution of a strike, securing a satisfactory agreement for workers and ratepayers of Manitoba Public Insurance (MPI).
Justice Minister Matt Wiebe, overseeing MPI, confirmed the development, highlighting the move as a step towards financial relief for families, stating, “This is one of the toughest economies we’ve seen in recent memory. People are feeling the pressure, particularly through the holiday season, and our government is pleased to see the board take steps toward making life more affordable for families.”
The PUB’s decree, detailed in Order No. 145/23 dated December 18, 2023, overrules MPI’s initial proposal to maintain existing rates, instead directing a decrease.
The ordered decrease will not affect all motorists equally, as individual premiums within major vehicle classes will vary according to personal driving records, claim histories, vehicle details, usage purposes, and residential locations. Therefore, while some ratepayers may notice a dip in their insurance costs, others could see an increase.