Manitoba Public Insurance (MPI) has announced significant updates to its Special Risk Extension (SRE) product and pricing, effective April 1, 2025.
Here are the key changes every trucking business should know:
Third Party Liability (TPL) Limits for Long Haul with U.S. Exposure: Now capped at $5 million.
Increased Premiums:
Average SRE rate increase: ~13% across all policies.
Physical damage coverage for long haul (Canada + U.S.) up minimum 15%.
TPL rates for long haul (Canada + U.S.) up minimum 5%.
MPI will continue to rate premiums based on radius, vehicle use/type, and loss history.
Even with MPI’s new pricing, you can take proactive steps to reduce costs:
1. Review Your Vehicle Values
Ensure your trucks and trailers are insured for their current market value—not outdated replacement costs. Overstating values means you could be paying for coverage you don’t need.
2. Reduce U.S. Travel
If you can limit your operations to Canada only, your risk profile changes—often lowering your premiums.
3. Lower Your Cargo Exposure
Hauling lower-risk, less expensive commodities can make a difference in your cargo insurance rates.
4. Update Your Radius of Operations
Make sure MPI is rating your policy accurately based on your true operating radius—especially if your routes have changed.
5. Become RPM Certified
By becoming RPM (Risk Prevention Management) certified, you can earn discounts on your workers’ compensation premiums and strengthen your overall safety profile.
Q: Why is MPI increasing truck insurance premiums in 2025?
A: MPI states these changes ensure the long-term sustainability of commercial auto insurance in Manitoba, reflecting increased claims costs, inflation, and evolving risk factors.
Q: If my TPL limit is currently above $5M, will it drop?
A: Not immediately. Long haul customers with U.S. exposure can keep their existing limits until their renewal in the 2025–2026 fiscal year.
Q: Can I get more than $5M in TPL coverage if I haul to the U.S.?
A: Possibly, but not guaranteed. MPI may explore facultative reinsurance to secure higher limits.
Q: Will switching my hauling routes help lower my premiums?
A: Yes—especially if you can operate within Canada only, which generally reduces both TPL and physical damage rates.
Q: Does cargo type affect my insurance costs?
A: Absolutely. Lower-value and lower-risk commodities typically result in lower premiums.
With these MPI changes, many trucking businesses will see premium increases in 2025. However, reviewing your coverage, adjusting your operations, and improving your safety profile can help offset those costs.
As your trusted commercial truck insurance broker, I can help you review your current coverage, identify savings opportunities, and ensure you’re getting the best possible rate—even in this changing market.
📞 Contact Brendan today to discuss your 2025 renewal strategy.