Many Canadians are concerned about rising car insurance costs, but motorcyclists are primarily focused on motorcycle insurance. Motorcyclists are covered by specific motorcycle insurance plans that meet the unique needs and safety requirements for people who hit the open roads on a chopper.
As one of three provinces with government backed insurance plans, Manitoba raises or reduces rates through Manitoba Public Insurance. MPI put out a statement on their website with good news for most motorcyclists in the province; motorcycle insurance rates will decline in March, 2016.
MPI sent a request to the Public Utilities Board, which must approve all insurance rate requests, asking for a 7.63 percent decrease in motorcycle insurance rates for Manitoba riders. If approved, the province expects 95 percent of all motorcyclists will benefit from the rate decline. Another 5 percent may see a slight increase.
Over 14,000 Manitoba motorcyclists are registered in the southern half of the province, with the majority concentrated around Winnipeg and other major cities like Brandon. A growing number of Manitobans have acquired mopeds and small engine motor scooters in recent years, and these riders will also benefit from the anticipated rate cut.
Dan Guimond, President and CEO of MPI, says the potential savings for motorcyclists are part of the province’s commitment to a balanced approach to “rate stability and predictability” for customers.
“Over the last five years, motorcycle rates have decreased overall by 28 per cent. The Corporation will continue to work with the Coalition of Manitoba Motorcycle Groups relating to both safety and rates.”
Residents who use their personal cars to get around can also anticipate a slight reduction in car insurance rates next March. MPI requested a 0.1 percent rate cut for personal drivers to help the organization reach its goal of completing another fiscal year without a general insurance rate hike.
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