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For the first time since 2012, MPI has applied to decrease its premium rates.
The overall decrease will be 0.6%. If approved, 610,000 Manitoba vehicles will have lower insurance premiums. It results to about $10 less in premiums per year.
MPI originally requested a 0.1% rate increase, but due to favourable financial results as of the end of September, they changed it to a 0.6% rate decrease.
If approved, the proposed rates will come into effect March 1, 2020.
