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Top 10 Best Car Insurance Companies in Canada - Cheapest Quotes
Top 10 Best Car Insurance Companies With Cheap and Good Comprehensive in Canada. Photo: KnowInsiders

In most countries, including Canada, motorists are legally required to carry auto insurance. Due to its size, Canada has many miles of roadway and a sizable automobile population. It's important to evaluate multiple aspects when choosing an auto insurer.

This post was written to help Canadians compare some of the top auto insurance providers in an effort to make the process of shopping for insurance a little less tedious.

Below is the list 10 best car insurance companies with cheap quotes and good services for every Canadian car owner, ranked by

Is car insurance required in Canada?

Driving in Canada entails the purchase of auto insurance, just as it does in the US.

The Insurance Industry is governed by the "Code of Consumer Rights and Responsibilities."

It is mandatory to have auto insurance in Canada, but requirements for coverage and limits vary by province.

Types of Car Insurance in Canada

In all of Canada's jurisdictions, motorists are required by law to maintain liability insurance. Both the necessary types of coverage and their minimum coverage amounts change from one place to the next.

When you are at fault in an accident, third-party liability insurance will protect you from financial ruin should the other party sue you for damages. This can be in the form of monetary loss, physical harm, or even death to another person. Since it is required in every Canadian province and territory, your auto insurance quote will always include third-party liability coverage.

When your car is damaged in an accident that wasn't your fault, and you have direct compensation-property damage (DC-PD) coverage, your insurer will pay you directly for the repairs. Loss of use, repairs, and replacement of your vehicle are all compensated for. Except in Alberta, British Columbia, Manitoba, and Newfoundland and Labrador, property damage coverage is required nationwide in Canada.

If you are involved in an accident with someone who does not have auto insurance, you will be protected by "uninsured motorist" coverage. And if you're ever the target of a hit-and-run, it can help keep you safe, too.

In the event of an accident, whether as the driver or a passenger, on foot or while riding a bike, you will be protected by the accident benefits coverage. Income replacement, medical, death and funeral, and other benefits are the four primary categories of accident insurance.

Optional car insurance coverages

These are the kinds of extra protections that your auto insurance policy can offer you. Keep in mind that these protections might be required by law in some states or regions.

Your vehicle is protected from financial loss in the event of a collision thanks to collision coverage (like another car). Whoever caused the accident won't matter; your insurance company will pay up to the car's actual cash value to fix it or replace it. Except in Manitoba, collision coverage is optional.

Damage to your vehicle that is not the result of a collision is covered by comprehensive insurance. Only in Manitoba is full coverage insurance required by law.

Theft, attempted theft, explosions, and natural disasters like fire and lightning are all named perils that are covered by specified perils insurance. The policy will only pay for losses that are specifically listed.

The all-perils policy incorporates the features of both collision and comprehensive insurance policies. If you purchase "all perils" insurance, your vehicle will be covered against any damage or loss, with the exception of those specifically excluded in your policy. Theft and damage to your vehicle from other drivers are both mitigated by this added layer of security.

How to define the best car insurance companies in Canada?

For assistance, we can use data gathered by outside parties. Expert observers investigate the framework's foundations in great detail. The Co-operators Group was named the most satisfied auto insurance provider in Canada by JD Powers.

But in Ontario and Quebec, Desjardins's subsidiary Personal Insurance is your best bet for top-notch auto coverage at competitive rates.

The only problem is that J.D. Power last conducted its customer satisfaction survey in 2018 and hasn't updated its results since then.

Price is another factor to consider when selecting the best car insurance provider in Canada.

Should Compare Car Insurance Quotes

The premium for auto insurance can be estimated with the help of a quote. Your age, vehicle information, driving record, and zip code are used in conjunction with other variables to determine your quote.

It's possible you've found that various insurers charge vastly different premiums for essentially the same protection. If you shop around for insurance quotes, you can quickly see which provider offers the best rate, given your specific profile and coverage requirements.

Discounts: Most insurance companies will provide you with discounts if you meet certain criteria. For example, if you have winter tires, or if you have more than one vehicle, you may be eligible for discounts

What the the best car insurance companies in Canada?

1. Aviva Insurance Canada

Photo: policediscountoffers
Aviva Insurance Canada

Canada's Aviva Insurance Group was established in 1999 as a wholly owned subsidiary of Aviva plc of the United Kingdom. In addition to basic and additional coverage, it offers discounts for things like bundling auto and home insurance, reaching a certain age, insuring multiple vehicles, not having any major traffic violations, and so on.

Since it is one of the largest insurance companies in Canada, Aviva Canada has policies for more than three million Canadians. Customers who install an automatic emergency brake system, remain conviction-free for three years, are 65 or older, are retired, or buy multiple policies from the same company are all eligible for discounts.

Policyholders with Aviva Canada have access to a variety of perks, including a vanishing deductible, conviction protection, roadside assistance, a claim satisfaction guarantee, and discounts on things like car rentals, hotels, and other trip-related services in the event of an interruption. Aviva accepts claim submissions via both its website and telephone service. There is currently no app available from the company. On the other hand, agents can be reached via phone anytime, any day of the week.

2. Economical Insurance

Photo: of4wd
Economical Insurance

In 1871, in what was then called Berlin but is now called Kitchener, Ontario, Economical Insurance was established. Economical Insurance now provides policies for autos, homes, businesses, farms, and liability. They rank as Canada's ninth-largest P & C insurer. They took home the prize for property and casualty insurer of the year in 2016 from the Insurance Business Awards. You can purchase coverage from Economical Insurance through their sister company Sonnet Insurance, or through any insurance agency that specializes in auto and home insurance.

Over one million Canadians are covered by Economical Insurance.

Discounts and additional coverage options earned five stars, while customer service and pricing received four and three stars, respectively, from those who reviewed Economical Insurance. Economical's insurance products and services are typically only available through insurance brokers in most areas. According to the JD Power study, it received four out of five possible stars for customer satisfaction in Ontario.

Vehicles as diverse as automobiles, vans, trucks, SUVs, motorcycles, mopeds, campers, and motorhomes can all find suitable coverage options from Economical Insurance. It pays for things like a lawyer's fees if you get sued, repairs to your car if you get into an accident, medical bills, a replacement windshield if yours gets broken, and loss of use due to theft or vandalism.

3. SGI Canada

Formed in 1945 as a provincial crown corporation, Saskatchewan Government Insurance (SGI) is dedicated to providing insurance to residents of Saskatchewan. The types of insurance offered by SGI Canada Insurance include those for buildings, vehicles, farms, and businesses.

Saskatchewan Government Insurance (SGI) serves the residents of Saskatchewan, Alberta, British Columbia, Manitoba, and Ontario in addition to its home province of Saskatchewan. The Saskatchewan Automobile Fund (SAF) is managed by SGI, which is a division of the Crown Corporation. The SGI headquarters are located in Regina, Saskatchewan, and the company currently employs around 2000 people. Discounts of various kinds are available to SGI customers.

Those who have been with the same insurance company for three years or more are eligible for a price cut. The company offers discounts to customers who have safe driving records, who insure multiple vehicles, and who bundle their auto and home insurance. SGI also provides discounts to those who are retired or who live on farms and make their living from farming. You can get in touch with a helpful SGI employee whenever you need to, seven days a week.

4. Pembridge Insurance

Photo: personalfinancefreedom
Photo: personalfinancefreedom

Pembridge Insurance Company, established in 1999, offers Canadians a wide variety of insurance policies at reasonable rates. Products like auto, home, condo, and tenant insurance are among those they peddle.

ATVs, motorcycles, snowmobiles, and boats are among the specialized items for which Pembridge offers insurance policies.

Pembridge takes great pride in being a local insurance company that values its long-term relationships with its clients. Pembridge contributes to many causes, including Operation Red Nose, the Women in Insurance Cancer Crusade, and the Easter Seals campaign.

The provinces of Ontario, Alberta, New Brunswick, Nova Scotia, and Quebec are just some of the locations where the company offers auto insurance to its customers.

5. Unica Insurance

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Unica Insurance

Unica Insurance was founded in 1955 and is known for its cutting-edge Commercial and Personal Insurance solutions for high-profile clients. By providing its clients with industry-leading insurance coverage and service, Unica helps them to preserve their investments and preserve their forward momentum.

One of Canada's largest property and casualty insurers, La Capitale General Insurance, is the parent company of Unica. Throughout the province of Ontario, our products are only available through a group of carefully selected insurance brokers.

6. Onlia Insurance

Photo: swaggermagazine
Photo: swaggermagazine

Onlia Insurance, which entered the Canadian market in 2017, provides customers with cutting-edge, adaptable options for car and home insurance, including condo and renter's policies.

Onlia, headquartered in Toronto, Ontario, is a digital-only insurer that promises to usher the sector into the twenty-first century with adaptable policies and instantaneous online quotes. Customers in Canada can purchase home and car insurance policies from Onlia.

Onlia is the brainchild of some well-known names in the industry, but the company itself is relatively young. It is a partnership between Fairfax Financial Holdings Limited and Achmea Canada Holding Inc., a division of the largest insurance company in the Netherlands.

Clients of Onlia Insurance can anticipate the following benefits from their online policy purchase:

Onlia offers a variety of discounts that help to lower the cost of both auto and home insurance.

There are no "secret" charges for things like cancellations, insufficient funds, or any other reason.

-Comprehensive protection against any and all threats a policyholder might face, whether at home or on the road.

7. Intact Insurance

With a total score of four stars, Intact Financial Corporation came in at #3. It was rated five stars overall, including for financial stability; four stars for pricing, value, and extras; and three stars for support. Customer service ratings were mixed, with a respectable 4/5 in the Atlantic region, 3/5 in Quebec and Ontario, and 2/5 in Alberta.

With over 13,000 employees serving over five million customers in Canada and the United States, Intact is a major provider of both property and casualty insurance and specialty insurance in North America. Its vehicle insurance division provides protection for a wide variety of vehicles.

The "my Drive" program from Intact Insurance provides personalized driving tips and rewards the policyholder for safe driving. It covers Uber drivers and Turo drivers in addition to the regular plans.

8. CAA Insurance (Canadian Auto Association)

Photo: caasco
CAA Insurance

The Canadian Automobile Association (CAA) was established in 1913 as a conglomeration of eight preexisting auto clubs. With over 6 million members, the company has become the largest automotive group in Canada.

CAA's headquarters are in Toronto, and the organization has more than a hundred additional locations across the country. You can avoid legal trouble, expensive medical care, and drivers without insurance with the help of a basic CAA policy.

There are over six million people in Canada, and CAA insures all of them on the road. Various member discount programs are available from the business. Those who have multiple auto insurance policies with CAA, join CAA's Connect program, and/or equip their vehicles with snow tires are eligible for these savings. Members who demonstrate safe driving habits are rewarded through the CAA connect program. Participants' driving is tracked by a small device the company provides them to install in their vehicles. For drivers who have never had an accident where they were at fault, CAA has a "Forgive and Forget" plan that cancels their insurance policy after one year. Insurance information for CAA members can be stored in a convenient app. Members can reach out to the company for help in a variety of ways via the app, including requesting roadside assistance, locating the closest gas stations, and comparing prices on a replacement car battery.

9. South Easthope Mutual

Photo: southeasthope
Photo: southeasthope

In 1871, a group of farmers in South Easthope, North Carolina got together to form a mutual insurance company that would sell policies to its members for cost. What this means for you is that your premiums are fully tax deductible and will be used to cover our actual costs of doing business and making payments on claims. We are a secure organization that returns excess premium payments to homeowners whenever we can.

Insurance needs in Southwestern Ontario are met by South Easthope Mutual's dedicated staff. Our members, who are also our policyholders, take great pride in the fact that they own the company. What makes us powerful is this. Our top concern is satisfying your requirements. Our commitment to the neighborhoods we work in is deeply ingrained in who we are as a people. When people from different backgrounds and walks of life work together, everyone benefits. That's why we'll be standing by to help you whenever you need us.

10. Echelon Insurance

Photo: echelonpc
Photo: echelonpc

The Echelon Insurance Group was established in 1998, and in 2019, it joined the CAA Club Group. To protect Canadian families and businesses, Echelon, a leading specialty insurer, collaborates closely with our broker partners to offer a variety of Personal and Commercial insurance options.

Echelon is an insurance company that caters to niche markets, such as those who need insurance for high-risk drivers, motorcycles, and antique automobiles and motorcycles.

Customers who have a difficult time obtaining or affording insurance due to factors like their driving record, the vehicle they drive, or any number of other factors may find a home with Echelon Insurance.

An automobile that falls into the "specialty" category, such as an exotic, sports, or collector model

-Having a history of accidents or insurance claims

A lack of continuity in coverage

-A company operating in the construction, food service, or other potentially hazardous industry

-Anything else that could raise your insurance costs

As a cost-cutting measure, rather than staffing its own agents, Echelon distributes its insurance offerings exclusively through a small network of carefully chosen insurance brokers.

Buying Direct vs Using a Search Platform

Finding a quote for auto insurance in Canada is simple once you have a firm grasp on your coverage needs. You can get a car insurance quote in two ways: The first is to visit the insurer themselves and request a quote. The second option is to look for insurance online. There are benefits and drawbacks to each.

If you already have insurance with the same company for other vehicles and/or your home, going through them directly could save you money by allowing you to bundle your policies. If you don't already have multiple policies with the same insurer, you might want to look into it. Use your loyalty to your advantage when shopping for lower prices, and remember that some providers of auto insurance offer discounts if you belong to a certain organization or if you earned a degree from a specific school.

However, even if you do get a deal for bundling, you may not be getting the best deal available to you if you only talk to one provider. Here's where insurance quote comparison websites come in handy, as they let you search for quotes from all of their partners at once.

There is no one best way to look for auto insurance; rather, it all comes down to how loyal you are and how much effort you are willing to put in to finding the best rates.

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