Car insurance in Manitoba

Factors influencing your insurance rates in Manitoba

On average, drivers in Manitoba pay $1,200 a year for car insurance. So, how exactly do insurance companies calculate these rates? It all comes down to your risk profile. The more of a risk you are to insure, the higher your rates will be and vice versa. Insurance providers use numerous factors to determine your overall risk profile, including the following:

Your driving record

Your driving record is one of the most important factors considered by insurance companies when determining how much you are going to pay for protection. Accidents, traffic infractions, and convictions raise your total risk profile, leading to higher rates. On the other hand, a clean driving record entitles you to lower premiums.

Claims history

If you make a lot of claims or have a history of large settlements on your insurance record, insurers will consider you a high-risk driver. Keeping a clean claims history by driving safely is one of the best ways to keep your insurance rates as affordable as possible. 

Driver profile

When calculating rates, insurance companies take into account your driving profile. This includes factors such as gender, age, years of driving experience, and driving habits. Younger, less experienced motorists will usually pay higher rates than older drivers as they are statistically more likely to participate in dangerous driving behaviours and be at-fault in accidents.

Location

Where you live in Manitoba matters; for example, urban areas with high traffic congestion, such as Winnipeg, tend to have higher premiums than more rural areas, like Winkler or Thompson. However, rural areas also come with their own risks, like delayed road services and wildlife crossings, which are factors also taken into account. e

Coverage options and limits

The type of coverage and limits you select will influence your premiums. For example, opting for higher liability limits and adding additional coverage to your regular plan, such as collision and comprehensive, or loss of use coverage, can raise your premiums, given that you will be better protected in the case of a collision or should a lawsuit be filed against you. 

Vehicle type

Your vehicle's make, model, age, and safety features all influence the cost of coverage. For example,  sports cars, high-performance models, and luxury vehicles often pay more for insurance, given that they have higher auto theft rates, more expensive repairs, and will cost insurance companies more to replace in the event of a total loss. 

In contrast, if you drive a standard, older vehicle with readily available replacement parts and lower replacement values, you're likely to have a more affordable insurance premium, provided that you are a safe driver with little to no claims on your history. 

Annual mileage

The more time you spend behind the wheel, the more at risk you are of being in an accident. If you drive long distances throughout the week, you may experience a slightly higher premium than those who use their vehicles infrequently.