Some Drivers Can Now Get Cheaper Car Insurance in Mississauga
Car insurance rates are high across Ontario.
Including here in Mississauga.
Well, Canada’s first pay-as-you-go auto insurance payment program is officially available to consumers in Ontario.
CAA MyPace launched on July 12.
It was first announced last May by CAA Insurance Company and bills itself as putting “choice and control back in the hands” of consumers.
The new program markets itself as helping modernize insurance in Ontario by giving motorists the power to monitor how much they drive and pay for auto insurance based on that mileage. The program will be of most benefit to low-mileage drivers who drive less than 9,000 kilometres per year.
“CAA MyPace has been generating a great deal of interest in the market, and we’re excited to offer this new program to Ontario drivers,” said CAA Insurance Company president Matthew Turack.
“Drivers now have access to an insurance option designed to meet the needs of their individual lifestyles and puts choice and control back in their hands.”
The company describes the program as being ideal for the Monday to Friday public transit commuter who leaves their car at home, retirees who visit family on weekends, or motorists that drive under 9,000 kilometres due to their overall lifestyle.
Here’s how CAA MyPace works:
- Drivers enroll as they would with any other CAA Insurance policy.
- A telematics device is plugged into the vehicle and connects to a mobile app or web portal allowing motorists to track how much they are driving and pay for auto insurance based on that mileage.
- Motorists start with a base rate and are charged in 1,000-kilometre increments, which are reloaded automatically.
- Customers receive a notification to let them know when they are close to the end of a 1,000-kilometre increment, making it easy to monitor usage.