Top 10 Car Insurance Companies In Canada

    Are you searching online for a good Canadian car insurance company? You’ve come to the right place. This article features a list of top 10 car insurance companies in Canada. Read on!

    Owning a car exposes you to a whole lot of financial risks. Car insurance enables you to lessen the chances of facing financial problems as it can cover for your car damage and other things concerning your car.

    How Does Car Insurance Work In Canada?

    In Canada, there are a lot of auto insurance plans in Canada. These plans depend on your state of residence and they may or may not be mandatory.

    Generally, car insurance is mandatory in all provinces, their level of protection differs according to the province.

    Different Insurance Protections Mandatory Or Not In Canada

    1) Public Car Insurance: Car insurance is regulated directly from an institution in some province, but there are also some private institutions where you can purchase third party liability and other options.

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    2) Third Party Liability: This coverage is mandatory in all provinces in Canada. This car insurance covers:

    • Your material damage and bodily injury caused to others by your fault
    • The minimum mandatory amount which depends on your province. Usually, it is $200,000 but the amount varies according to province.

    3) Accident Benefits Coverage: This coverage is also mandatory in all provinces in Canada and the insurance provides protection for your car bodily injury and also covers:

    • You if you are injured in an accident weather it is your fault or not
    • The medical staff(s) involved in the accident, for example: medical care, rehabilitation and auxiliary care services
    • Income replacement

    4) Uninsured Automobile Insurance: This insurance covers you or someone in your vehicle, if you’re either injured or killed by hit and run or an uninsured vehicle.

    5) Direct Compensation-Property Damage (DC-PD): This car insurance covers you for both damage to your vehicle and also the content of your vehicle. Although there are some few conditions to this insurance.

    Here’s A List Of The Top 10 Insurance Companies In Canada

    There are a lot of car insurance companies in Canada, and as such, choosing the right car insurance company can be difficult. Here is a list of the best car insurance companies in Canada:

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    • The Co-operators

    The Co-operators Group Limited is the number one car insurance providers in the country as it provides excellent services in the most crucial departments. It received an overall rating of five stars according to Carsurance ranking.

    • The Personal Insurance

    The Personal auto insurance company offers standard coverage and optional coverage. Their standard coverage protects accident benefits, third party liability, collision and uninsured automobile.

    • Intact Insurance

    Intact Insurance has a “my Drive” programme aside from the standard plans. This programme rewards the policyholder for driving safely and provides personalised tips to improve driving habits.

    • Desjardins

    Desjardins’ standard auto insurance company provides insurance coverage which includes: third-party liability, comprehensive, collision and upset, accident benefits, uninsured automobile coverage, direct compensation property damage (DCPD) and family protection.

    • Belairdirect

    Belairdirect is a subsidiary of Intact Insurance and it has provided car insurance solutions for over 65 years in Canada. Its standard car insurance plan offers accident coverage, liability coverage, direct compensation and uninsured motorist coverage.

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    • Aviva

    Aviva Canada is a subsidiary of UK-based insurance company. Aside from their standard and optional coverage, it offers discounts that reward customers for handling their car insurance policies, insuring more than one vehicle at a time, having no convictions, and staying claims-free.

    • TD Insurance

    TD insurance is one of the largest direct-response auto insurance company in Canada. It is very affordable and it has a very useful website where potential clients can visit and get an online quote, discounts and stable financial operations.

    • Economical Insurance

    Economical insurance offers coverage for legal fees (if you’re sued), damage to your vehicle and other vehicles, lost wages and lots more. They offer insurance solutions for cars, vans, trucks, SUVs, snowmobiles and ATVs, motorcycles and mopeds.

    • RSA Insurance

    RSA Group offers AIR MILES reward programme and allows policyholders to redeem their reward miles for rental car services, travel vouchers etc.

    • Sonnet

    Sonnet is a fully online insurance company equipped with a website that has a fast quoting tool, plain-language policies, and lots more

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    Conclusion

    Choosing the right insurance company should be based on much more than price alone. The company’s mode of service and how they operate should be put into consideration.

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