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The Public Utilities Board (PUB) has approved a 2.6 per cent hike to driver premiums in Manitoba and ordered MPI to close a loophole by 2021.

The 2.6 per cent approved raise to driver premium is just shy of the 2.9 per cent Manitoba Public Insurance had initially requested.

This hike equals out to roughly $29 a year, or more if you’re carrying a few demerits.

READ MORE: Manitoba Public Insurance raising rates

Drivers with demerits will pay an additional 1.8 per cent more for their license. MPI expects that alone will bring in an additional $17 million.

Another change MPI has been approved to make could cost parents who have registered a vehicle for their teens a lot of money.

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MPI has been given approval to switch the driver discount to be based on the person who drives the vehicle the most, not the registered owner.

The PUB gave MPI until 2021 to find out how to make that change.