Manitoba drivers to get more money back as utilities board OKs $312M rebate, rate decrease

Manitoba driverswill once again get a rebatefrom Manitoba Public Insurance the third such rebate since the start of the COVID-19 pandemic.

The Public Utilities Boardissued its decision on MPI's 2022-23 general rate application on Wednesday.

It approved a 1.57 per cent rate decrease for policyholders, as well as a rebate of approximately $312 million, MPI said in a news release.

The rebate isprimarily due to a drop in the number of claims during thepandemic period, the Public Utilities Board said in a separate news release.

MPI also announced rebates in April 2020 and November 2020.

Policyholders can expect to receive a rebate cheque in early February 2022, MPI says.

Therate decrease means the average passenger vehicle owner will pay about $16 less in premiums per year, the public insurer says.

The dropmarks the third consecutive year Manitobans have received a ratedecrease.

The approved rates will come into effect April 1, 2022, but since renewal dates are staggered, some vehicle owners will not pay their new rates until March 31, 2023.

The utilities board also approved changes to MPI's driver safety ratingsystem, which includes expanding the top of the scalefrom +15 to +16 in 2022-23.

It's the first step in a multi-year plan to gradually introduce higher safety-ratinglevels toallowthe safest drivers to see greater benefits, MPI says.

The Crown corporation expects almost 95 per cent of drivers with the current highest rating will move up and get a 37 per cent discount on their premiums, compared to the current maximum of 33 per cent.

Driver's licence premiums will remain at$15 for those at the highest safety ratings.