Policyholders eligible for continued rate reduction of 10%.
CAA Insurance has extended some of its COVID-19 relief measures originally announced back in 2020. On April 9, 2020, CAA announced they were dropping their Ontario auto insurance and home insurance rates by 10%. One month later, they also announced they would be offering policyholders a $100 Auto Insurance Relief Benefit.
"CAA Insurance continues to explore ways to help consumers save money on their insurance premiums during this difficult time," said Matthew Turack, president of CAA Insurance Company in a press release at the time. "We know that driving distances have reduced, and that Ontarians are looking to reduce their auto insurance costs accordingly. "
Fast forward almost a year and we’re still in the midst of the COVID-19 pandemic. For that reason, CAA says it is going to continue to apply the 10% rate reduction in 2021 for its active policyholders. No action is necessary by policyholders to continue to receive this reduction.
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CAA Insurance COVID relief measures to date:
- CAA’s $100 Auto Insurance Relief Benefit: Sent to every Ontario driver who had a CAA Insurance auto insurance policy in effect prior to May 1, 2020. Policyholders received their $100 relief payment in the summer of 2020.
- CAA’s 10% Home and Auto Rate Reduction: The 2020 rate reduction, originally announced at the beginning of the first wave of the pandemic, was available to new and existing clients and was valid for the duration of a 12-month policy term.
- CAA’s $50 Auto Insurance Relief Benefit: Sent to every Ontario driver who had a CAA Insurance auto insurance policy in effect as of October 28, 2020. Policyholders received their $50 relief payment prior to the end of the year.
CAA has said with all of the measures it announced in 2020 they’ve provided over $60 million in relief to support policyholders in managing their expenses during the pandemic.
CAA’s relief efforts during the COVID-19 pandemic have not gone unnoticed. The company has said the Financial Services Regulatory Authority of Ontario (FSRA) identified CAA Insurance as the leading insurer, providing the highest percentage of rate relief to its policyholders.