Best Auto Insurance Companies in Canada
In Canada, it is mandatory to have car insurance. The amount of insurance you must have varies from province to province. In British Columbia, Manitoba, and Saskatchewan, the government owns the insurance providers. In most other provinces and territories, insurance providers are heavily regulated by the provincial government.
Statistically, you will pay the most for car insurance in British Columbia and the lowest cost will be in Quebec. Insurance companies must offer minimum insurance which generally includes some level of liability, accident benefits, uninsured automobile, direct compensation property damage and civil liability coverages. You are always eligible for more coverage, depending on the company you are working with.
Most insurance companies offer remarkably similar coverage, you will want to get quotes from a few companies before deciding on a provider. Each company uses different language for their coverage options, but the services are essentially the same. If you ever get into an accident or incur damage to your car, car insurance providers usually require that you work with a specific car repair vendor. Many insurance providers either have in house repair services or authorized repair partners. In house repair services are generally smoother and more streamlined.
Rates will always vary with driving experience, driving record, how much you drive, where you live, previous insurance coverage, vehicle value, among other factors. Most companies will offer a range of different coverage options and increased deductibles, giving you some control over your monthly cost. Here is a list of Canada’s biggest auto insurance providers and some details about each.
TD Insurance
TD Insurance offers all the minimum requirements for car insurance coverage. Also available, at an increased cost, are specified perils, comprehensive, collision or upset, all perils, accident forgiveness, uninterrupted driving coverages, and limited waiver of depreciation coverages.
With TD, you can save money by bundling car and home insurance, more than two vehicles, or if you have a hybrid or electric vehicle. TD has a subdivision called TD Insurance Auto Centres, where you can get claims advice, car repairs and car rentals. All their services can be reviewed and initiated from their mobile app. The app will give you access to your specific insurance policy, additional coverage options, and the ability to track any claims you make.
TD is a reputable financial institution with amazing resources and customer service that extends to it Insurance arm. TD Insurance is a safe and reliable choice, especially considering that it’s part of the big five banks of Canada. You can get a quote online with TD in roughly 3 minutes.
RBC Insurance
RBC Insurance offers all the minimum requirements for car insurance coverage. Also available, at an increased cost, are specified perils, comprehensive, collision, all perils, accident protection, loss of vehicle, waiver of depreciation, family protection, and satellite program coverages.
With RBC, you can save money by bundling car and home insurance. RBC has Premiere Auto Repair Centres, where you can get claims advice and car repairs. These centers offer lifetime guarantees on repairs. All their services can be reviewed and initiated online or over the phone. Unfortunately, RBC does not seem to have an integrated app where all their services can be accessed in one place.
RBC is a renowned financial institution with ample resources and customer service that extends to their auto insurance. Insuring with RBC Insurance is a safe and reliable choice. Obtaining a quote online with RBC is quick and easy.
Desjardins
Desjardins General Insurance will offer all the minimum requirements for car insurance coverage. Also available, at an increased cost, are liability for damage to non-owned automobiles, comprehensive, collision or upset, family protection, accident forgiveness, transportation replacement, 5-year new vehicle protection coverages, and emergency road service coverages.
With Desjardins, you can save money by bundling car and home insurance, more than two vehicles, or if you have a hybrid or electric vehicle. All their services can be reviewed and initiated from their mobile app. The app will give you access to your specific insurance policy, additional coverage options, and track any claims you make. Desjardins has online processes to change addresses, add drivers, add vehicles, and filing claims.
Though not as large as financial institution insurance providers, Desjardins has streamlined online services. In addition, they’re a more specialized since insurance is the only service they offer. You can get a quote online with Desjardins in approximately 3 minutes.
Belair Direct
Belair Direct insurance will offer all the minimum requirements for auto insurance coverage. Also available, at an increased cost, are comprehensive, collision, accident forgiveness, Autocomfort, and emergency road service coverages.
With Belair, you can save money by taking advantage of their Automerit program, which tracks how safely you drive and gives you insurance rate discounts accordingly. You can also get a discount by bundling home and auto insurance. All their services can be reviewed and initiated from their mobile app. The app will give you access to your specific insurance policy and track any claims you make.
Belair does not offer as many extended insurance coverage options as other providers. However, Belair does offer a unique discount program based on your driving habits. Get a quote online with Belair in three simple steps.
Aviva
Aviva insurance will offer all the minimum requirements for car insurance coverage. Also available, at an increased cost, ridesharing, temporary vehicle replacement, conviction protector, collision protection, comprehensive coverage, disappearing deductible, and accident forgiveness coverages.
With Aviva, you can save money by bundling car and home insurance. Claims can be initiated online or over the phone. Aviva offers a claims service satisfaction guarantee, suggesting they have great customer service. While you may want the convenience of an app, which Aviva currently lacks, their claims service satisfaction guarantee may give you peace of mind. You can obtain an online quote with Aviva.
Sonnet
Sonnet Insurance Company will offer all the minimum requirements for auto insurance coverage. Also available, at an increased cost, are accident forgiveness, ticket forgiveness, rental extension, and roadside assistance, and hit-and-run deductible waiver coverages.
With Sonnet, you can save money by bundling car and home insurance, more than two vehicles, or if you are claims free for the last 6 years. Sonnet does not offer any ridesharing insurance. In addition, they do not have a mobile app for claims, but you can file claims online or by calling their 24/7 customer service line for claims support or towing.
Sonnet has a great customer satisfaction rating. Your insurance policy will be available to you entirely online. One advantage that Sonnet has which other providers lack is the car insuring process can be done entirely online and on your own within minutes.
Co-Operators Insurance
Co-Operators Insurance will offer all the minimum requirements for car insurance coverage. Also available, at an increased cost, are collision, specified perils, comprehensive, all perils, accident forgiveness, loss of use, liability for damage to non-owned automobiles, family protection, limited waiver of depreciation and some other specialized coverage.
With Co-Operators, you can file claims from your mobile device. Co-operators Insurance offers an online quoting process, however, you usually must work with an agent to complete the car insuring process.
Intact
Intact insurance will offer all the minimum requirements for auto insurance coverage. Intact does not state all their additional coverage options available, but they should be competitive with other insurance companies and have similar options.
Intact has a program called My Drive which tracks your driving habits and offers discounts over time based on favorable habits. They have a mobile app with all your policy information and a mobile app claims filing process. Intact has Turo car sharing coverage as well. With Turo, you can rent out your car for short periods of time when you are not using it to earn extra cash. You can bundle home and auto insurance for discounted rates. Get your quote online in a few simple steps.
How to Pick the Best Insurance Company
Everyone has different insurance needs and financial ability. More coverage is better to have in case you do make a claim. But of course, more coverage is more expensive. You will want to consider your budget and what you use your car for before purchasing a specific insurance policy. Start asking yourself questions such as, how often do you drive? Will you participate in a ride sharing program like Uber or Lyft? Are you drawn to a policy that offers discounts based on your real-world driving habits? Do you want the ease of mobile apps? When do you need coverage?
Most of the companies listed above offer streamlined application and claim processes either online or through an app. Some companies seem to rate better on customer service while other companies have more resources. Pricing will always vary based on you as the driver and the insurers internal policies. Ultimately, choosing a car insurance provider is about finding a vendor that best suits your needs and budget.
