This page is purely for information. MyChoice is not affiliated with the company.
Economical Auto Insurance: Quick Facts
| Available in Canada? | Yes — Economical serves personal, commercial and farm customers across Canada. |
| Available in Ontario? | Yes; Ontario is Definity’s largest market. |
| Direct, broker or affinity distribution | Broker distribution. Definity states Economical policies are distributed by licensed broker partners. |
| Underwriting company | Definity Insurance Company. |
| How to get a quote | Find/contact a licensed Economical broker; no direct Economical consumer quote purchase was confirmed. |
| How to report a claim | Call the 24-hour claims line at 1-800-607-2424 (1-888-875-8088 in Quebec), or report through the broker. |
| Digital account or app | No current Economical-branded consumer policy-management app was confirmed on the cited pages; customers primarily work through their broker and the claims team. |
Economical Car Insurance Coverages Available in Ontario
- Optional physical-damage choices include Collision, Comprehensive, Specified Perils and All Perils.
- Published Economical guidance confirms transportation replacement/loss-of-use coverage can pay eligible rental, rideshare or other substitute-transport costs following a covered loss, subject to limits and required underlying coverage.
- Economical materials discuss first-claim forgiveness and depreciation-waiver/replacement-cost protection as policy options; availability and exact endorsement terms must be confirmed with the broker.
- Economical underwrites platform-related commercial auto programs, including Uber and carsharing arrangements, but that is not the same as a universal personal-policy rideshare endorsement.
Read More: What Types of Coverage Ontario Drivers Can Access
Economical Savings for Eligible Policyholders
- Economical’s published consumer guidance lists common savings to ask a broker about: anti-theft, away-at-school, conviction-free, driver training, graduated licensing, eligible group, multi-policy, multi-vehicle, renewal and Ontario winter-tire discounts.
- The company cautions that exact discounts vary by province and insurer; a broker must confirm which Economical discounts are available and whether the customer qualifies.
Starting an Economical Auto Claim
About Economical Car Insurance
Economical Insurance said it does not view high-risk auto insurance as its “bread and butter” business.
Economical Insurance, which is transitioning to Definity Insurance, is one of Canada’s leading property and casualty insurers. Economical serves more than one million customers through independent brokers.
Current policies are written by Definity Insurance Company and Definity Insurance Company of Canada. The company was founded in 1871 in Berlin, now Kitchener, Ont.
Economical’s Google Rating Versus Other Insurers
| Insurance Provider | Company’s Online Rating |
|---|---|
| Economical | 2.2/5 |
| SGI | 3.6/5 |
| Aviva | 4.5/5 |
| Wawanesa | 2.8/5 |
| Echelon | 2.1/5 |
Economical Car Insurance Pros & Cons
Based on Economical reviews posted by other users online, the following are Economical pros and cons for you to consider when it comes to getting car insurance from Economical.
| Pros | Cons |
|---|---|
| Quick and Efficient Customer Service | Frequent Rate Increases |
| Seamless Claims Handling | |
| Long-Term Customer Satisfaction |
Who is Considered a High-Risk Driver by Economical?
Economical does not publish its eligibility guidelines as they are considered to be proprietary. Price and class depend on information contained within the application, geographical location and the underwriting guidelines. Drivers with claims, violations, at-fault accidents, licence suspensions, cancellations or other underwriting factors may find that these factors can impact their price and may limit their insurance carrier options.
What Other Insurance Products Does Economical Offer?
Economical/Definity offers a number of discounts on auto insurance including accident-free, anti-theft devices, experienced driver, multi-car, no-convictions, home-auto combo and loyalty/renewal discounts. Discount availability is based on the province and eligibility.
Economical/Definity offers homeowner’s insurance, condo, tenant’s, cottage, landlord’s insurance through a licensed insurance broker.