Winnipeg, Manitoba — Manitobans are getting a second Christmas in February as the province’s public insurer announced that rebate cheques and a rate reduction are on the way for drivers in Manitoba.
The province’s public utilities board approved Manitoba Public Insurance’s (MPI) request for a 1.57 percent rate reduction for policyholders, as well as a rebate totalling $312 million.
Crown Services Minister Jeff Wharton said “MPI continues to demonstrate strong financial performance and this is great news for Manitobans.
“Since the start of COVID-19 pandemic, we continue to benefit from having a public insurance model which has resulted in almost $500 million going back into the hands of Manitobans.”
The approved rates will be effective April 1, but because renewal dates are staggered, some vehicle owners will not pay their new rates until March 31, 2023. The 1.57 percent rate decrease means the average passenger vehicle owner will pay about $16 less in premiums per year, according to MPI’s press release.
MPI says drivers can expect to receive rebate cheques in the mail in early February. Further details about the rebate are to be released in the coming weeks.