Car insurance is probably one of the most annoying things you have to pay for. Even if you don’t own a car it’s annoying because the cost of it is likely a reason you can’t afford to drive.
But it could soon be much cheaper for you to pay for your insurance in Ontario.
That is if you don’t drive all that often.
Starting this summer a pay as you go plan called MyPace is going to be introduced to Ontario by CAA Insurance.
It’s designed for people who drive 9,000 km or fewer a year.
Here’s how it will work, a device will be plugged into your car and connected to a mobile app or web portal to track how long and how far the car is being driven.
You’ll then only have to pay based on how many kilometres you drive.
The program is going to be starting in July. “We believe that insurance options should be designed based on individual lifestyles and the various stages of people’s lives,” said CAA Insurance president Matthew Turack.
According to a report last year Ontarians pay the highest insurance rates in the country right now, so this could be a way for many people to lower how much they’re paying per year just to drive their cars.
So you don’t need to drive much this is probably something you should be looking into.
Source: Toronto Star