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
The Co-operators Group Limited was named the obvious winner among auto insurance carriers in Canada by Carsurance because 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.
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.
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.
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 pays policyholders for driving safely and offers personalized driving recommendations. It covers Uber drivers and Turo car-sharing services in addition to the normal plans.
Desjardins Group received a four-star rating overall. Financial strength, pricing, discounts, and optional coverages all scored five stars, while customer service received three stars. For new car owners, Carsurance recommends Desjardins since it offers a wide range of savings and optional coverages. In the JD Power evaluation, it scored three stars in the Quebec region for customer service.
Comprehensive, third-party liability, collision and upset, accident benefits, uninsured automobile coverage, family protection, and direct compensation property damage are all included in Desjardins’ standard auto insurance policy (DCPD).
Meanwhile, it offers five-year new vehicle protection, a trouble-free option, a $0 deductible option, liability for damage to non-owned autos, transportation replacement, and accident-free protection as optional car insurance coverage.
With a four-star overall rating, Belairdirect made it to the top five. Belairdirect received five stars for financial strength, four stars for customer service, pricing, discounts, and optional coverages, and five stars for financial strength, prices, and discounts and optional coverages, according to Carsurance. In JD Power’s research, it received four stars in Ontario and three stars in Quebec for its customer service department.
Belairdirect has been offering vehicle and home insurance solutions for over 65 years and is a division of Intact Insurance. Its auto merit program rewards policyholders for safe driving and low mileage, offering up to a 15% discount for traveling less than 10,000 km per year and a 10% discount just for joining up.
Liability coverage (bodily injury and property damage), accident benefits, direct compensation (property damage), and uninsured motorist coverage are all included in its regular auto insurance plan. Accident forgiveness, autocomfort, collision insurance coverage, comprehensive insurance coverage, and Belairdirect roadside assistance are among the available features.
Overall, Aviva obtained a four-star rating, with five stars for rates, four stars for financial strength, discounts, and optional coverages, and two stars for customer service.
Aviva Canada is a division of Aviva plc, which is situated in the United Kingdom. It offers savings for bundling auto and house insurance plans, being a retiree, insuring more than one vehicle, having no convictions, and being claims-free, in addition to standard and optional coverages.
If Belairdirect is the best option for Uber drivers, Aviva Canada is the greatest option for Lyft drivers because it has teamed with Lyft Canada to offer ride-sharing insurance to drivers and passengers in Ontario who utilize Lyft ride-sharing services. In JD Power’s customer satisfaction research, it scored only two stars in the Alberta, Atlantic, Quebec, and Ontario areas.
With a $56 rate for a full coverage policy in Montreal, Carsurance selected TD Insurance as the cheapest car insurance choice among the top 10 car insurance carriers in the country. It received a four-star rating overall, with five stars for prices, four stars for financial strength and discounts, and three stars for customer service. In a JD Power evaluation, it received four stars in the Atlantic region for customer service.
TD Insurance is one of the country’s largest direct-response auto and home insurance firms. Aside from being affordable, it has a well-designed website where potential customers can acquire an online quote, discounts, optional coverages, and reliable financial operations.
Economical Insurance was given a four-star rating, with five stars for discounts and optional coverages, four stars for customer service, and three stars for financial strength and pricing. Economical’s insurance solutions are only available through insurance brokers in most regions. In the JD Power research, it received four out of five stars for customer satisfaction in Ontario.
Cars, vans, trucks, SUVs, snowmobiles and ATVs, motorbikes and mopeds, and campers and RVs are all covered by Economical Insurance. It covers legal bills (if you’re sued), damage to other vehicles, lost income (if you’re hurt and can’t work), medical expenditures, accident repairs, shattered windshields, theft and vandalism, and rental charges, among other things.
Carsurance has given RSA Group a four-star rating. Customer service, financial strength, discounts and optional coverages all scored four stars, while prices obtained three stars. It was praised for its extra features, such as incentive miles for paying premiums on a regular basis. Although it was not included in the JD Power research, it has a “A+” rating from the Better Business Bureau and a “A” from AM Best. RSA, like Economical, only offers rates via insurance brokers.
Policyholders can use their reward miles for rental cars, travel vouchers, lodging, concert tickets, and other leisure products through RSA’s AIR MILES program.
RSA is lauded for its claims protection plan and lifetime repair warranty, in addition to reward miles. After their first at-fault accident, the policyholder’s premium will not increase under the claims protection plan.