MPI Has Announced Proposed Rates for 2021

October 20, 2020

Don't forget that your Autopac coverage is changing in 2021. MPI has announced they have applied for a 9.4% reduction for passenger vehicles rates while motorcycle rates are increasing by 4.7% after a previous increase of 5.1% last year. These rates are awaiting public utility board approval.

However, with this rate reduction comes automatic changes to your base coverages which could increase your overall premium. These changes are:

Increased basic liability from $200,000 to $500,000. Additional limits to a maximum of $10,000,000 will still be available for an additional cost.

Increased Maximum Insured Value from $50,000 to $70,000

$100 deductible will no longer be an option.

Basic Autopac Deductible is increasing from $500 to $750, which will reduce the insurance cost but you will be self-insuring to a higher limit if you don't pay an additional fee to buy down the deductible.

$500 deductible will now be a buy down option for an additional fee.

There will be two $200 deductible options. Standard $200 deductible package will now only waive the deductible for theft & collision with an animal. To maintain the current coverages offered by the $200 deductible, you will have to purchase the $200 Plus package for an additional fee. This will allow for a waived deductible for claims against glass repair, vandalism, theft and collision with an animal.

www.mpi.mb.ca/Pages/nr2020may12.aspx#:~:text=This%20change%20will%20increase%20MIV,the%20increased%20cost%20of%20repairs.&text=Basic%20Autopac%20deductible%20will%20be,and%20motorcycles%20at%20lower%20cost.

 


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