the top 5 car insurance companies in canada

 the top 5 car insurance companies in canada

The financial hazards associated with owning an automobile are numerous. With automobile insurance, you can reduce your risk of running into financial difficulties because it can cover damage to your vehicle as well as other situations where you might be responsible for paying costs like medical expenses.

As a result, selecting the best auto insurance company is essential and should be based on much more than just pricing. According to the website carsurance.net's reviews, these are the top auto insurance providers in Canada for 2022 - 2023 :

the top 5 car insurance companies in canada

the top 5 car insurance companies in canada

1. The Co-operators

The Co-operators Group Limited was named the nation's top auto insurance company by Carsurance because it "performs excellently in the most critical sectors." It obtained a five-star rating overall, five stars for discounts and optional coverages and customer service, four stars for costs, and three stars for financial stability. According to JD Power's 2019 Canada Auto Insurance Satisfaction Study, the insurer has five stars from the most happy clients across all of its branches in the Alberta, Atlantic, and Ontario regions.

A multi-line insurance and financial services cooperative, The Co-operators has $47.4 billion in assets under management. It employs nearly 6,000 people, and its network of financial advisors includes 2,530 certified insurance representatives. Additionally, 241 credit unions with more than 5.8 million members are served.

Property and casualty (P&C) insurance, life insurance, institutional asset management, and brokerage are the key areas of focus for its financial solutions. More than 1.4 million automobiles and more than 875,000 residences are covered by its P&C insurance policies.

2. The Personal Insurance

With a five-star overall rating, The Personal Insurance came in second in Carsurance's rankings. Additionally, it scored five stars for its rates, financial stability, and customer service, and three stars for its discounts and extra coverage options. It received five and four ratings in the JD Power research, respectively, and is a huge hit with clients in Quebec and Ontario. Despite favorable customer reviews, it did not get the top rank because of its limited availability since it only offers coverage to its affiliated organizations.

Group auto insurance from The Personal Insurance provides both mandatory and optional coverage. Third-party liability, crashes, accident benefits, and uninsured vehicle are all protected by the standard plan. Additionally, it provides thorough protection for losses or harm to the policyholder's car in circumstances other than those mentioned above.unlike collisions.

3. Intact Insurance

With a four-star total rating, Intact Financial Corporation came in third place. Additionally, it received five stars for financial stability, four stars for rates and discounts, three stars for customer service, and four stars for optional coverages. However, based on regional average ratings, it scored four stars in the Atlantic area, three stars in Quebec and Ontario, and two stars in Alberta for customer service.

With more than 13,000 people supporting more than five million clients in Canada and the US, Intact is one of the major providers of speciality insurance in North America and P&C insurance in Canada. Its vehicle insurance division covers boats, ATVs, snowmobiles, RVs, motorbikes, and other motorized vehicles.

The "my Drive" initiative from Intact Insurance also awards policyholders for driving safely and offers customized advice to help them become better drivers. It provides coverage for Uber drivers and Turo car-sharing services in addition to the usual insurance.

4. Desjardins

Overall, Desjardins Group received a rating of four stars. It was given five stars for its financial stability, costs, special offers, and optional coverages; three stars were given for its customer service. Desjardins offers a wide range of savings and extra coverages, thus Carsurance suggests it to new car owners. It scored three stars in the Quebec region in the JD Power report for its customer service focus.

Comprehensive, third-party liability, collision and upset, accident benefits, uninsured motorist coverage, family protection, and direct compensation property damage are all included in Desjardins' standard auto insurance policy (DCPD).

In the meanwhile, its extra auto insurance coverage includes five-year new car protection, a trouble-free option, a no-deductible option, liability for damage to other people's cars, transportation replacement, and accident-free protection.

5. Belairdirect

Belairdirect, which received a total rating of four stars, entered the top five. Belairdirect received five stars for financial stability from Carsurance and received four stars for customer service, pricing, discounts, and optional coverages. Belairdirect is thought to be the ideal choice for Uber drivers and car owners with low mileage. In the JD Power study, it received four stars in Ontario and three stars in Quebec for its customer service division.

For more than 65 years, Belairdirect, an Intact Insurance company, has offered options for auto and house insurance. With a 10% discount for enrolling in the program and up to a 15% discount for traveling less than 10,000 km annually, the automerit program rewards policyholders for safe driving and low mileage.

Its regular auto insurance policy includes uninsured motorist protection, accident benefits, direct compensation for property damage, and liability coverage for physical injury and property damage. Accident forgiveness, autocomfort, collision insurance, comprehensive insurance, and roadside assistance from Belairdirect are some of the optional coverages available