CAA MyPace, a pay-as-you-go auto insurance payment program, is now officially available to consumers in Ontario.
First announced in May by CAA Insurance Company, the new program allows Ontario motorists 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 Matthew Turack, president, CAA Insurance Company. “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 program is said to be ideal for the Monday to Friday public transit commuter who leaves their car at home, someone retired who likes to visit family on weekends, or motorists that drive under 9,000 kilometres due to their overall lifestyle.
To use CAA MyPace 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, and 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.