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Did you know that usage-based insurance is now offered in Canada?

October 16, 2013

Usage-based car insurance in CanadaIt’s true! It has been in the news lately that some insurance companies offer a discount on your car insurance if you volunteer to install a piece of technology in your vehicle. It is being referred to as Usage Based Insurance.

This technology monitors the behaviour of drivers of your vehicle. Behaviours such as the speed you drive, how quickly you accelerate, how hard you brake as well as the times of day that your vehicle is driven are logged into the device and uploaded to the insurance company.

Depending on the results, you could be eligible for a discount of up to 25%. Not all insurance companies offer this. If you are interested, check with your insurance professional to see if your insurance company offers it.

Read more about usage-based insurance here.

  • N.T. Diluvian

    “how hard you break”? Ouch!

  • Doris Routliffe

    Grammatical error in your text: break should be brake!

  • mikeIH

    Thanks Doris!

  • mariposaman

    It’s actually a spelling error, not grammatical.

  • Dudey

    Be careful with this. Most people may think this could result in lower insurance rates for them, but suppose it exposes how BAD a driver you are…?!

  • Robert Currie

    Why not tell us which companies offer this service?

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello Dudey,

    Thank you for your feedback and communication. Take a look at paragraph 3 in this article from Canadian Underwriter (quoting FSCO – Financial Services Commission of Ontario – who regulate insurance rates in Ontario). http://www.canadianunderwriter.ca/news/fsco-publishes-bulletin-on-usage-based-insurance-pricing-privacy-considerations/1002644916/

  • http://www.insurancehotline.com/ InsuranceHotline.com

    We are not licensed insurance agents, please speak to your insurance professional (broker/agent) in regards to which companies are currently offering this and which might be coming out with it in the future.

  • Roger Heron

    one senior drives 500 miles a year should he get a insurance discount

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello Roger,

    Please speak to your insurance professional directly for this… each company is different and they all have different underwriting guidelines. It is best to find out the specifics of your policy.

  • Mo

    Do u hv a list of insurance companies who are offering this?.

  • Andy Goodwin

    How long do you think it will be before usage based is an insurance requirement?

  • richard.couvato

    Do they monitor what time you go to bed and have sex, so they know when you will kick the Bucket???

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hello Mo,

    You can speak to your insurance professional (broker/agent) to find out which companies are currently offering this.

  • http://www.insurancehotline.com/ InsuranceHotline.com

    Hi Andy,

    It is in its infancy, and we would not be able to answer this question.