Ebene News – CA – Accelerating the pace: CAA pay-as-you-go insurance customers tripled in pandemic

Thornhill, Ontario – As the pandemic saw fewer cars on the road and, as a result, fewer collision claims to be settled by insurers, pay-as-you-go models have taken on a new position at the forefront of auto insurance as CAA reports its MyPace policy has soared in popularity

The CAA announced Thursday that according to its data, “the number of new CAA MyPace policies between April and December 2020 has increased by almost 300% compared to the same period in 2019”

CAA Insurance President Matthew Turack says these results continue to highlight a shift in consumer habits from traditional insurance pricing models

“While the growth is remarkable, it reinforces what consumers are telling us that a one-size-fits-all auto insurance solution doesn’t work for them, especially in these tough times when many vehicles aren’t. used as much “

Turack continued, “CAA MyPace is a one-of-a-kind payment program that allows customers to take control of their auto insurance costs by giving them the freedom to pay for the distance they travel.”

First launched in 2018, the MyPace program is claimed by the CAA to allow drivers to save 50% of what they would spend on a traditional policy

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Insurance, Canadian Automobile Association

Ebene News – CA – Pick up the pace: CAA pay-as-you-go insurance customers tripled in pandemic

Source: https://www.collisionrepairmag.com/picking-up-the-pace-caa-mypace-pay-as-you-go-insurance-customers-tripled-in-pandemic/