A third phase of CAA Insurance's COVID-19 rate relief program features a $50 rebate for all active auto policyholders in Ontario whose car insurance policies are in effect before October 28. The insurer announced the new measure on October 29.
No action is required by eligible policyholders to receive the benefit.
Earlier this year, CAA offered both a 10% rate reduction on home and auto policies for the duration of a 12-month policy term, and a $100 rebate for all active auto policies. In total, including this latest benefit, CAA will have given back over $60 million to help policyholders manage their expenses during these difficult times.
“As the pandemic continues, so do the financial hardships faced by many households,” says Matthew Turack, president of CAA Insurance Company. “Ontarians have been looking to their insurance companies to help them save on their insurance premiums. We are very proud that CAA Insurance continues to lead the industry by helping drivers save on auto insurance costs and provide financial relief to families impacted by the pandemic.”
The insurer says the reduced rates can be combined with additional ways to adjust coverage and payment plans to reflect reduced driving behaviour such as:
- Reducing annual mileage amounts on policies
- Insurance adjustments for multiple cars that aren't being driven
- Enrolling in the CAA MyPace program
- A discount for drivers who install four winter tires on their vehicles during the winter months
Different insurance companies are offering varying pandemic relief measures. Check the RATESDOTCA Rebate Premium Calculator to find out what measures your car insurance provider offers. Also, Ontario drivers should talk to their brokers about what discounts and rebate measures may be available to them.