Having a car is a necessity for many people, but having car insurance is often seen as an optional extra. In reality, it’s a legal requirement in most provinces and territories. When you’re trying to find the best auto insurance companies for your needs in Canada, it can be helpful to compare different insurers’ rates side-by-side.
Having insurance is one of the most important things you need to do immediately after you own a brand new car or any vehicle that you purchased second-hand. You can also check out the best insurance companies in UK and in the USA respectively.
To make things easier, we’ve compiled a list of the best auto insurance companies in Canada. Here are five of the best, based on our findings.
Top 5 Best Car Insurance Companies in Canada
Aviva Insurance is one of the largest and most well-known auto insurance companies in Canada. As a subsidiary of the UK-based Aviva plc, the company has a strong international presence.
In Canada, Aviva offers a wide range of auto insurance products, including both personal and commercial coverage. The company is also known for its competitive rates, which are often below average compared to other insurers.
Some add-on options offered by Aviva include ride-sharing car coverage, conviction protection, comprehensive coverage, accident rating waiver, and more. If you’re a member of a professional or trade organization, you may also be eligible for a discount on your auto insurance premium.
The Co-operators is a Canadian-owned company that offers a wide range of insurance products, including auto insurance. The company has been in business since 1945 and today operates in 44 countries around the world.
The Co-operators is known for its sustainable business practices, and Carsurance identified the provider as the winningest company when it comes to auto insurance customer satisfaction ratings. In addition to offering competitive rates, The Co-operators also offer several discounts, such as a 50% discount for not filing a claim in the past year.
Intact Insurance takes a more unique approach to auto insurance than some of the other companies on this list. Instead of offering a one-size-fits-all solution, Intact Insurance allows customers to tailor their coverage to better suit their needs.
The company also offers myDrive, a unique product that will track your driving habits and give you a personalized insurance rate based on your performance. If you’re a safe driver, you could see some significant savings on your auto insurance premium.
For those who are looking for more than just auto insurance, Intact Insurance also offers home, business, and life insurance products.
Belairdirect is a subsidiary of Intact Insurance and offers a similar approach to coverage. Widely regarded as the best auto insurance company for Uber and Lyft drivers, Belairdirect offers a ridesharing insurance product that is specifically designed for those who use their personal vehicles for business purposes.
While Belairdirect does not have the same international presence as some of the other companies on this list, the company does have over 65 years of experience in the Canadian insurance industry.
A highlight of Belairdirect’s auto insurance offerings is its automerit program, which offers safe drivers the opportunity to save up to 15% on their premium.
As the name suggests, Economical Insurance is all about offering affordable auto insurance rates. The company has been in business since 1871 and today operates all over Canada.
Economical Insurance is known for its flexible coverage options and competitive rates. The company also offers a number of unique auto insurance products, such as classic car insurance and usage-based insurance.
Whether you have an EV, a truck, or even a snowmobile, Economical Insurance has you covered.
Final Thoughts About Auto insurance Companies Canada
While there are many auto insurance companies to choose from in Canada, these five providers are some of the best. Whether you’re looking for the most affordable rates, the most comprehensive coverage, or something in between, one of these companies is sure to meet your needs.
Quick Recap On Top 5 Auto Insurance Companies in Canada:
- Aviva Auto Insurance
- The Co-operators
- Intact Insurance
- Belairdirect insurance
- Economical Insurance