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CAA Insurance unveils pay-as-you-go auto insurance

Program lets drivers control how much they spend when it comes to auto insurance


July 11, 2018
Purchasing B2B

Ontario motorists will have a new option to help manage auto insurance premiums through a payment program from CAA Insurance Company.

The program, called CAA MyPace, gives motorists choice and control when it comes to auto insurance, the company said.

“We believe that insurance options should be designed based on individual lifestyles and the various stages of people’s lives,” said Matthew Turack, president, 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.”

The new program is powered by a telematics device that is plugged into the vehicle and connects to a mobile app or web portal. The app allows motorists to track how much they are driving and to pay for auto insurance based on that mileage. CAA MyPace will be of most benefit to low-mileage drivers.

Drivers enroll as they would with any other CAA Insurance policy, install the MyPace device in their car and drive. Motorists start with a base rate and are charged every 1,000km.

Kilometres are reloaded automatically in 1,000km increments, so you are only paying for what you use. Customers receive a notification to let them know when they are close to the end of a 1,000km increment, making it easy to monitor usage. The program will be available in Ontario later this summer.