$71 million rebate, up to 33 percent discount for Manitoba drivers
Manitoba motorists will receive a $71 million rebate, four per cent overall average rate decrease and a maximum 33 per cent discount off their Basic Autopac policies, effective March 1, 2011.
The rebate ─ the fifth in 11 years ─ will be mailed to policy holders in the spring of 2011, as approved by the Public Utilities Board (PUB). Autopac policy holders can expect to receive a 10 per cent rebate, which will return about $89 per vehicle.
Other highlights of this year’s PUB ruling:
- An overall average four per cent rate decrease in premium revenue for the 2011/12 insurance year. The average passenger vehicle premium will be $884, down $30 from the 2010/11 rates.
- 572,591 vehicle owners (59.4 per cent) will see their Autopac premiums decrease in 2011.
- Positive changes to the Driver Safety Rating. Long-time safe drivers, who are placed at +15, will receive a maximum 33 per cent discount off their Basic Autopac premium; an increase of eight per cent from the previous maximum discount of 25 per cent.
- DSR levels +11 to +14 have now been implemented. Drivers placed within these ranges will receive discounts of 27 to 30 per cent, respectively.
- Drivers placed at DSR level +10 will receive a 26 per cent discount, up one per cent from the previous discount of 25 per cent.
- A total of 5,615 motorcycle owners will see a decrease in their premium.
As always, individual insurance premiums and rate changes were calculated by examining the owner’s driving record, the kind of vehicle they drive and where they drive it and what they use the vehicle for. Motorcycles (excluding mopeds and motor scooters) will experience an overall rate decrease of 3.2 per cent. Moped and motor scooter owners will experience a 25 per cent increase, as approved by the PUB. The average premium for a moped will now be $216, while motor scooters will be $233.
The 2011/12 rate application was filed with the PUB in June. While the approved rates take effect March 1, 2011, some vehicle owners won’t see the new rates and discounts until February 28, 2012 because renewal dates are staggered.
