Ontario motorists who log less than 9,000 kilometres a year can save on their auto insurance premiums under a “pay as you go” program billed as the first of its kind in Canada.Called MyPace and offered by CAA Insurance as an option for customers in the province starting in July, the program lets motorists monitor how much they drive and pay for 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,” CAA Insurance president Matthew Turack said Wednesday at Toronto’s Union Station.“People should be able to access the insurance they need, when they need it, at a price and payment schedule that works for them.”The program uses a device plugged into the vehicle that connects to a mobile app or web portal used to track data on kilometres driven, time and distance of the trip. The program is distinct from insurance offerings that monitor variables such as the speed of the car and braking patterns that can be used to gauge personal driving habits as a factor in premium rate calculations.“What is unique about this program is it’s based only on mileage,” said Steve Kee, a spokesperson the Insurance Bureau of Canada, the national industry association. He called it a welcome layer of choice for drivers amid a spike in pump prices and in a province where drivers pay the highest auto insurance rates in Canada, according to a report for the province’s Liberal government last year.“Auto insurance has been front of mind for a lot of Ontarians,” said Elliott Silverstein, manager, government relations, CAA South Central Ontario. “For those who are low-mileage drivers (this) marks an important step in the modernization of insurance in Ontario.”Drivers who choose to enrol in MyPace will have kilometres loaded automatically in 1,000-kilometre increments and receive a notification to let ...
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