MPI applies for Autopac rate reduction for 2009
Citing declining auto theft claims, Manitoba Public Insurance is seeking a 1% overall reduction in Autopac rates for 2009-2010.
Most premiums would rise or fall by less than $20, with an average passenger vehicle premium of $853.
In its rate application to the provincial Public Utilities Board, MPI proposed a rate menu that would see an average premium decrease of 1.5% for private passenger vehicles including touring-style motorcycles and 14.3% for off-road vehicles.
Increases include 25% for mopeds and scooters.
The reductions were credited to a drop in theft related claims.
Thefts are down by 40% since 2004 and are expected to drop another 40% by the end of 2009.
If approved it would be the second MPI rate decrease in three years. Rates dropped by 2.6% overall in 2007-08 and remained unchanged in 2008- 09.
Posted: August 22nd, 2008 under Auto Insurance Canada, Auto Insurance Quotes, affordable car insurance, auto insurance coverage, auto insurance rates, car insurance companies, car insurance rates, cheap car insurance, low cost car insurance.
Tags: premiums, rate reduction