If you continue to work from home due to the pandemic and are looking for a way to save real money on your auto insurance, CAA MyPace™ is a program that is saving low-kilometre drivers 40% on average. If you drive less than 3,000 kilometres a year, you could save 50% or more.
As the pandemic drags on much longer than any of us expected, you might be one of millions of Canadians looking out at your driveway, and wondering why you’re still paying full price for auto insurance for a car that mostly just sits there. If this describes you, and you drive less than 8,000 km a year, you could be saving a bundle by switching to CAA MyPace™.
The program is quite simple really. First, you’ll be quoted CAA’s typical premium based on your driving record and other personal details. Then, if you say that you want to participate in the CAA MyPace™ program, CAA will send you a device that you will plug into your car’s OBD-II port. All cars built since 1996 have this port. You’ll also download an app to your phone, and together, they will track how many kilometres you drive.
The savings are greater the less you drive. Here’s the breakdown:
|8,001 km or more||No savings|
If you drive more than 9,000 km a year, then the program is probably not for you, because you will actually be charged an administrative fee for every 1,000 extra kms you put on the car, making the program more expensive than CAA’s traditional auto insurance product.
But if you’re working from home for the foreseeable future, and only using your car for errands once or twice a week, you can imagine how the CAA MyPace™ program could save you serious money. And of course if you live in a two-car or three-car family, you can put the least used vehicle(s) on the program, and only use them when you really need to.
So how much can you save exactly? Here are a few examples:
|Driver||Driving Profile||Regular CAA Annual Premium||CAA MyPace™ Annual Premium||Savings|
|Suhanna, 36 yrs old, Kitchener, Business Analyst||Driving 3,200 km a year during the pandemic||$1,002||$644||$358|
|Arthur, 58 yrs old, Toronto, HR Specialist||Driving 1,700 km a year during the pandemic||$1,238||$581||$657|
|Kenyon, 26 yrs old, London, Blogger||Driving 5,700 km a year during the pandemic||$1,525||$1,188||$337|
To get your vehicle on the CAA MyPace™ program today, call Mitchell & Whale Insurance Brokers at 1-800-731-2228. One of our car insurance experts will go over your auto insurance history and current driving behaviour with you, and advise you if the program is right for you. Because we work with 40+ different insurance companies, we’ll probably be able to save you some money regardless.
If you want more information about the program, check out our interview with CAA Insurance’s Kathy Corbacio from 2020.
Want to add to this story? Let us know in comments below! Mitchell & Whale is a fast-growing insurance brokerage in Ontario, striving to make insurance _not suck_ one customer at a time. Give us a call today to discuss any of your insurance needs at 1.800.731.2228.