In Ontario, we are always looking for a new discount to help reduce our monthly car insurance payments. Let’s face it, we live in one of the most expensive places to insure a vehicle in Canada, especially if you’re in the GTA.
We all know one of the easiest ways to save money on car insurance is by adding more discounts to your policy. However, many drivers are still not taking advantage of all the discounts available to them from their insurance company. The most common example of this is usage-based discounts.
Over the past few years, many companies have introduced usage-based insurance programs utilizing the latest telematics technology. These programs now rely on smartphone apps to assess driving habits and reward drivers with additional discounts for safe driving. If you’re not familiar with telematics, check out this post >“why we love telematics and you should too”
In many cases, you can save up to 30% off your monthly car insurance premium by using one of these apps. One of the companies leading the way with usage-based insurance in Ontario is Intact Insurance. Recently, Intact launched some changes to their my Driving Discount® that they are claiming will save drivers even more money, make it easier to participate, and improve safe driving habits.
We decided to take a closer look.
Get a discount just for signing up.
One of the most compelling things about usage-based insurance programs is that many of them will offer you a discount on your policy immediately when you sign up. With Intact’s my Driving Discount® you’ll automatically receive a 5% discount when you enroll in the program.
That’s not a bad start.
Discount can increase every six months.
Every company is a little different when it comes to calculating and applying your driving discount. One of the features we really like about Intact’s my Driving Discount® is that it is continuous. This gives drivers an opportunity to earn a personalized driving discount every six months, instead of every 12 months.
This is a great option for drivers because you don’t have to wait a full year to get your discount; it’s applied to your policy after only 6 months of driving, so you start saving money sooner. Also, the continuous program gives you an opportunity to increase your discount every 6 months as you become more familiar with the app and your driving habits improve.
To our knowledge, Intact is currently the only company in Ontario offering a continuous program like this, but it won’t be long before others follow suit.
You save by being safe.
The great thing about all usage-based car insurance programs is that you truly do have control of the discount you receive. If you make an effort and focus on safe driving habits, then you’ll see the results in your driving discount. In fact, 75% of drivers earn a personalized driving discount after using the Intact app for only 6 months.
Your premiums can’t go up.
Okay, this is definitely our favorite thing about the my Driving Discount®; it is truly a rewards program. Even if you score very low on your safety score, your premiums will not go up. You really do have nothing to lose because the my Driving app can only be used to lower your premiums.
How big of a discount can you get?
Again, every program is different. With Intact’s app, the maximum discount is 30%.
Feedback is the key!
Another unique feature we like about the Intact program is the feedback and tips you receive in the app. The Intact app uses stats collected on events like braking, acceleration, time of day, driving distractions, and more to provide you with a safety score. This score gives you insight into your overall risk level, from very low risk all the way up to severe risk. What’s even better is the app will give you tips on how you can improve your safety score and in turn, maximize your driving discount.
Want to learn more about the new my Driving Discount?
The new Intact app is now available on Google Play and the App Store. New clients who would like to participate will need to set up a policy with Intact Insurance first. For more info, or to get a quote, contact one of our brokers at 1-888-234-3247, or get a quote online.
Already an Intact client? You’ll have to wait until September 22, 2018 to get the new my Driving App®.