"PAY AS YOU GO" AUTO INSURANCE IS COMING

May 24, 2018

By Andy Johnson

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Ontario motorists who log less than 9,000 kilometres a year will be able to save under a “pay as you go” Insurance program billed as the first of its kind in Canada.

The Canadian Automobile Association will begin offering “MYPace” Insurance in July.  It lets motorists monitor how much they drive and pay for insurance based on that distance.

The program uses a device plugged into the vehicle that connects to a mobile app or web portal that tracks data on distance, time and kilometres.

Drivers involved will have their kilometres loaded automatically in 1,000 K-increments.  If the annual cap is exceeded, the customer’s underlying insurance rates will apply to the overage.

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