- 15% premium discount for new and existing Ontario policyholders.
- CAA is at the forefront among Ontario insurers offering rate reductions and financial relief.
- The reduced rate can be combined with other ways to adjust coverage and cost.
CAA Insurance is again upping its COVID-19 rate relief program for Ontario drivers.
The insurer says it’s giving its completing an online form.on a 12-month term. The rate relief applies automatically to all new customers effective April 15, 2021, and to existing customers whose auto policies renew on or after June 15, 2021. Customers whose auto policies renewed between January 1 and June 14, 2021, can apply for the incremental rate relief by
"We recognize that people are either driving less or driving differently, and we don't expect this to change in the short-term," says Matthew Turack, president of CAA Insurance. "We understand there are many people facing challenges brought on by the pandemic. We believe that insurance companies should step up, give back and help Ontarians manage expenses during the COVID-19 pandemic."
CAA is at the forefront among Ontario insurers providing its policyholders with rate reductions and financial relief because of the pandemic:
- In April 2020, CAA offered a 10% rate reduction on both car and home insurance policies for the duration of a 12-month policy term. In February 2021, it extended the 10% rate reduction it enacted in 2020 for auto policyholders.
- In May 2020, the insurer announced a $100 car insurance relief benefit.
- In October 2020, it provided an additional $50 relief benefit for its active Ontario auto policies.
The total amount of pandemic relief that CAA is giving back to its customers in 2020 and 2021 is estimated to be more than $130 million.
The insurer says the reduced rates can be combined with other ways to adjust coverage and cost 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
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.
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