MEDIA RELEASE: CAA Insurance Company announces another round of meaningful relief for Ontario driversMarch 17, 20212 min read
CAA Insurance continues to lead the way in providing Ontario auto policyholders with financial relief during the pandemic.
CAA Insurance Company is renewing its commitment to customers by enhancing its industry-leading rate relief for Ontario auto policyholders to 15 per cent for a 12-month term. The announcement is one way that CAA Insurance is helping our customers with meaningful relief to help manage expenses during the COVID-19 pandemic.
“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 Company. “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.”
In 2020, CAA Insurance led the insurance industry by providing both rate reductions and financial relief benefits, and we are pleased to continue leading the industry in 2021. Over the past year, CAA Insurance’s initiatives include:
- In April 2020, CAA Insurance was the first and only insurance company to offer a 10 per cent rate reduction on both auto and home insurance policies for the duration of a 12-month policy term.
- In May 2020, we announced a $100 auto insurance relief benefit.
- In October 2020, we provided an additional $50 relief benefit for our active Ontario auto policies.
The total amount of pandemic relief that CAA Insurance will give back to home and auto insurance customers during 2020 and 2021 is estimated to be over $130 million.
Coupled with our pandemic relief, new customers who have made the switch to CAA Insurance see significant savings. By calling and speaking to one of our agents or brokers, motorists could find savings averaging over $700 per policy.
Today’s announced 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 completing an online form at https://www.caainsurancecompany.com/rate-reduction-policy-details
Elliott Silverstein Director, Government Relations, Insurance
Elliott manages and executes key elements of CAA’s provincial advocacy role, and overseeing municipal advocacy efforts.