Easy way for low mileage drivers to save on auto insurance
One of the hottest talking points lately has been the potential return to work. Many of us have been working from home for the past year and a half, and now that offices and businesses are starting to reopen, we are learning how many days we will have to keep working from home each week, or if work will stay away altogether.
But one thing seems certain, and that is that we will be commuting less. Which begs the question; if we drive fewer kilometers, shouldn’t our insurance premiums also go down?
That’s why they created CAA MyPaceMT in 2018, Canada’s only pay-as-you-go auto insurance payment program for low-mileage drivers. You have the freedom to pay only for the distance traveled.
What is CAA MyPace?
When CAA MyPace was first launched, it was designed for people who traveled less than 9,000 km per year. But to make the program even stronger as people start commuting to the office one or two days a week, CAA Insurance has increased the distance of the pay-as-you-go program to 12,000 km per year.
CAA Insurance conducted a survey in August 2021 and found that 64% of the 2,100+ Ontarians surveyed would consider an insurance product, now or upon renewal, that allows them to pay only for distance traveled.
Much like the way you only pay for gasoline in your car, CAA MyPace gives motorists the ability to control their auto insurance costs by paying only for distance traveled.
If you typically take public transit to work and leave the car at home, work from home full time, or just don’t use your car on a daily basis, CAA MyPace might be a good option for you.
Is It Really Better Than Traditional Auto Insurance?
Simply put, if you drive less than 12,000 km per year, yes.
But the proof is in the numbers. Ontario drivers are taking notice of CAA MyPace, as new policies have increased by more than 400% during the pandemic.
On average, Ontario drivers save 50% on their auto insurance premiums with CAA MyPace compared to a traditional policy.
As we approach the end of the year, now is a great time to review your current auto insurance policy to see if you could save money by changing your policy.
To see if CAA MyPace is right for you, call a CAA licensed insurance agent at 1-977-222-1717 or a broker. You can also visit a CAA store or GETCAAINSURANCE.ca.
1 Auto insurance is underwritten by CAA Insurance Company.
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Vehicle compatibility and registration for the CAA MyPace payment program are subject to terms and conditions.
Certain conditions, exclusions and underwriting guidelines apply.