All drivers in the United States are required to have auto insurance. However, pricing vary greatly not only between provinces (though, for those curious, Quebec offers the cheapest alternatives while British Columbia has the most expensive), but also within each province. In Canada, there are dozens of auto insurance companies, each attempting to persuade you that they are the best option. But how can you be certain that you’re getting the greatest insurance rates possible?
We’ve put together this post to assist you to compare some of the best vehicle insurance providers in the country to make your insurance shopping experience a little easier.
Having a car comes with a slew of financial pitfalls. Car insurance can help you avoid financial difficulties by covering damage to your vehicle and other situations in which you may be responsible for medical fees and other bills.
As a result, choose the correct vehicle insurance company is critical – and should be based on more than just pricing. According to the vehicle insurance review website carsurance.net, the following are the best car insurance providers in Canada for 2020:
The Co-operators Group Limited, according to Carsurance, is the obvious winner among vehicle insurance carriers in Canada since it “performs excellently in the most critical sectors.” It was given a five-star rating overall, with five stars for customer service, discounts, and optional coverages, four stars for pricing, and three stars for financial strength. Customers in Alberta, Atlantic Canada, and Ontario are the most satisfied, with JD Power’s 2019 Canada Auto Insurance Satisfaction Study awarding the insurer five stars across the board.
The Co-operators is a multi-line insurance and financial services co-operative with assets under administration of $47.4 billion. It employs approximately 6,000 people and has a financial adviser network of 2,530 registered insurance agents. It also serves 241 credit unions with a total membership of 5.8 million people. Property and casualty (P&C) insurance, life insurance, institutional asset management, and brokerage are among the company’s financial solutions. Its property and casualty insurance policies cover over 1.4 million vehicles and over 875,000 houses.
2. The Personal Insurance
Personal Insurance was ranked second in Carsurance’s rankings, with a five-star overall rating. Customer service, pricing, and financial strength scored five stars, but discounts and optional coverages received three stars. Customers in Quebec and Ontario love it, giving it five and four stars in the JD Power study, respectively. Despite great client feedback, it was not able to take the top rank due to its limited availability, as it only covers its affiliated companies.
The group auto insurance from Personal Insurance includes both standard and optional coverage. Third-party liability, collisions, accident benefits, and uninsured motorist coverage are all included in the regular policy. It also provides full coverage for loss or damage to the policyholder’s car in non-collision situations.
Five-year new car protection coverage, liability for damage to non-owned automotive coverage, transportation replacement coverage, a worry-free option, a $0 deductible option, and accident-free protection coverage are among the optional coverage options.
3. Intact Insurance
With a four-star rating, Intact Financial Corporation came in third. It also received five stars for financial stability, four stars for prices and discounts, and three stars for customer service. However, based on geography, it scored four stars in the Atlantic, three stars in Quebec and Ontario, and two stars in Alberta.
With over 13,000 people supporting over five million clients in Canada and the United States, Intact is one of the major providers of P&C insurance and specialty insurance in North America. Cars, motorbikes, RVs, ATVs, and snowmobiles, as well as boats, are all covered under its vehicle insurance line.
Intact Insurance also offers a “my Drive” program that rewards policyholders for driving safely while also providing personalized driving instructions. It covers Uber drivers and Turo car-sharing services in addition to the normal plans.