MPI rates to rise 5.7% in coming fiscal year

MPI thanks the Public Utilities Board (PUB) for its response to the Corporation’s 2025/26 General Rate Application, which begins April 1, 2025. MPI respects the independent role of the PUB and will work to implement the order that has been issued for the Corporation’s compulsory line of business (Basic insurance).

Coverage under MPI’s Basic insurance is mandatory for Manitoba drivers and rates are regulated and approved by PUB annually.

For the 2025/26 insurance year, PUB has ordered a 5.7 per cent increase to Basic insurance rates, which will represent an increase of $50.84 per year or $4.24 per month for the average passenger vehicle policy.

To ensure customers can choose the type of coverage that best meets their needs, MPI also offers additional options through its Extension line of business. These products are not mandatory and customers may choose to purchase them from any insurance provider in the province. With 96 per cent of customers choosing to purchase Extension products from MPI, the Corporation is proud of the value and convenience these options offer to Manitobans.

MPI’s Extension product portfolio includes additional third-party liability coverage, rental vehicle insurance and the option for customers to pay slightly higher premiums for their insurance to reduce the deductible they would pay in the event of a claim. For example, MPI’s current Basic insurance deductible is $750, but most Manitobans choose to pay for additional Extension coverage that reduces their deductible to $200.

In the current insurance year, MPI’s Board of Directors approved a 10.32 per cent increase to Extension rates, which represented an increase of $9.60 per year for the average passenger vehicle policy.

Beginning April 1, 2025, Extension rates will increase by two per cent, which will represent an increase of $1.99 per year on the average passenger vehicle policy.

MPI regularly reviews the pricing of its products to ensure we are continuing to provide high-value options for customers that are priced competitively when compared to other providers.

The PUB has also approved MPI’s application for a $10 increase to the cost of an annual driver’s licence. This helps support the Personal Injury Protection Plan (PIPP), one of the most comprehensive universal injury protection plans in North America. MPI has not increased the cost of a driver’s licence since 1997.

An expansion of the Driver Safety Rating system was also approved in the 2025/26 order. Customers who move to the new level 19 on the scale will receive an additional discount above the current maximum of 46 per cent.

All changes delivered in the order will be in effect as of April 1, 2025