Some Drivers Can Soon Get Cheaper Car Insurance in Mississauga
It's no secret that auto insurance rates are high across the province - and they can be steep here in Mississauga.
Now, the Canadian Automobile Association (CAA) has launched a brand new initiative to help some drivers save on premiums, and you might want to check it out.
It's essentially a pay-as-you-go program that's ideal for motorists that drive under 9,000 kilometres per year.
The new program, called CAA MyPace, gives motorists the opportunity to monitor how much they drive, and pay for auto insurance based on that mileage.
Basically, you plug the telematics device into your car, which you can then connect to a mobile app or web portal.
According to the CAA, CAA MyPace will mostly benefit low-mileage drivers.
"We believe that insurance options should be designed based on individual lifestyles and the various stages of people's lives," said Matthew Turack, President of CAA Insurance. "People should be able to access the insurance they need, when they need it at a price and payment schedule that works for them. CAA MyPace brings Ontario motorists one step closer to that reality."
How do you access pay-as-you-go car insurance?
Drivers sign up the same way as any other CAA insurance policy, then install the MyPace device in their car. They start with a base rate and are charged every 1,000 kilometres.
Users are sent a notification to their phone via the app when they near the end of a 1,000 kilometre increment.
"Over the last number of years, auto insurance has been front of mind for a lot of Ontarians," said Elliott Silverstein, Manager of Government Relations for CAA South Central Ontario. "Today's announcement provides an additional layer of choice for those who are low-mileage drivers and marks an important step in the modernization of insurance in Ontario."
CAA MyPace kicks off in July 2018.
You can learn more here.
- Some Drivers Can Now Get Cheaper Car Insurance in Mississauga
- Ontario enables auto insurance companies to provide rebates to drivers amid COVID-19 pandemic
- Huge Change Coming to Drivers' Insurance Rules in Mississauga
- Are Men Paying Less Than Women for Auto Insurance?
- Mississauga Pays Extremely High Auto Insurance Rates, Report
- CAUGHT ON VIDEO: World's largest cargo plane lands at Pearson Airport with medical supplies
- PHOTOS: Massive $50,000,000 mansion with gold-lining is for sale in Mississauga
- Newly-released data indicates that Mississauga is a hotspot for COVID-19
- House of the Week: $2 mil home with gorgeous, upgraded interior
- Peel releases map data showing COVID-19 cases and hotspots