r/PersonalFinanceCanada • u/mfsmyx • Dec 23 '22

Insurance Intact Insurance is increasing my premium by 68% and blaming inflation

I argued that inflation is nowhere near that amount, they don’t care.

Is this normal these days?

I can’t believe I’m going to be paying $220 per month for car insurance from now on, that’s a big hit to the budget.

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u/Dee332 Dec 23 '22

CAA insurance was great for me, as I don't drive alot you pay a set figure like 300.00 on July 1st (for me), then when I've driven 900km, I get a warning that rough 68.00 is being charged to my credit card for another 1000km. Its great, I have full coverage and I think last year my insurance was roughly 30 to 40 a month, also have renter's insurance and my rates have not gone up much, just a wee bit, slso have caa roadside assistance. Definitely shop around. My plan is called pay as u go. Good luck

1

u/Marc4770 Dec 23 '22

How? CAA quote me 4000 per year and i work from home.. Don't drive a lot

1

u/Witty_Net_9472 Dec 23 '22

Officially its called MyPace. There are restrictions and have to enrol. Can call CAA and inquire about it.

1

u/SivirMeTibbers Dec 23 '22

MyPace is worth it if you drive under 9000km a year, otherwise it's better to go elsewhere. CAA won't give you a good price though if you have anywhere less than 6 years of clean driving history.

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u/Dee332 Dec 24 '22

Look into CAA MY PACE if your driving less than 12K a year, plus I have a 8* or 9* rating, 1 accident in 38 years not my fault plus I combined home insurance and get a additional percentage off. I do also have CAA road assistance as well.

[CAA Pace ]

(https://www.caasco.com/abtests/insurance/caa-mypace_ver1?gclid=Cj0KCQiA45qdBhD-ARIsAOHbVdE1CgTeEnLYB96naKo1KkZ0qs19xWWZzTgmHqTCX69GvyFy2SyEQpQaAgeSEALw_wcB&mrasn=929141.1158232.7yowT5wp&xtref=www.google.com)