Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

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

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

This new program allows drivers to control how much they spend when it comes to auto insurance

Ontario motorists will have a new option to help manage auto insurance premiums, thanks to a new, first-in-Canada payment program announced today by CAA Insurance Company.

The new program, called CAA MyPace™, gives motorists the choice and control they are looking for when it comes to auto insurance. It empowers motorists to monitor how much they drive, and pay for auto insurance based on that mileage.

“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.

CAA MyPace is 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.

“Over the last number of years, auto insurance has been front of mind for a lot of Ontarians,” said Elliott Silverstein, manager, government relations, 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 is simple and easy to use. 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 1,000 kilometres.

Kilometres are reloaded automatically in 1,000 kilometre 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 1,000 kilometre increment, making it easy to monitor usage. The program will be available in Ontario later this summer.

Recently, CAA was voted as the most trusted brand, in Canada by the Gustavson Brand Trust Index.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post