CAA Insurance is offering a 10% rate reduction to both new and renewing home and auto insurance policies written in New Brunswick.
The rate reduction is meant to lower customers’ premiums during the COVID-19 pandemic. CAA Insurance has also recommended that customers combine the rate reduction with other cost-saving measures – such as reducing annual mileage amounts on policies or insurance adjustments for multiple cars not being used – to better reflect their reduced driving behaviour.
“We don’t know how long this is going to last, so this is temporary assistance, but it does go for the duration of your policy,” CAA Insurance senior vice-president of marketing and communications Gary Howard told Country 94.
The insurer initially offered the rate reduction in Ontario, with plans to extend the offer in other provinces after working with their respective regulators.
Read more: CAA Insurance offers rate reduction
Howard suggested that customers should contact their broker or agent to find out more details about the rate reduction.
“Many companies are doing different things, so it’s best to check with your insurance company or broker, whichever way you insure and see what’s available,” he said.
The executive added that while New Brunswick had experienced flooding in the past, and Western Canada as a whole has dealt with fires, the pandemic has caused the most “unusual” circumstances he has seen so far.
