Best Insurance Companies in Canada
Being a homeowner in Canada, you are more likely to invest a lot of time for the best insurance company. One thing is for sure – everyone needs it! With several insurance companies varying in policies, it might be somewhat challenging for you to opt for the right one.
Our Top Pick Insurance Companies
Well, Don’t worry! We have made your job easier by listing the top 8 best insurance companies in Canada. These agencies are recommended based on policy offerings, claims, billing and payment, and price. Let’s get started:
1- Intact Financial
Intact Financial is certainly one of the popular home and auto insurance providers. It offers an extensive variety of home insurance coverage available through wide-ranging insurance brokers. The agency has organized both personal and commercial product lines. Highly recommended!
2- Industrial Alliance
In the year 1892, this financial services agency stepped into the market. Serving more than three million Canadians, it is declared the number 5 health and life insurance company. In 1973, the agency started offering auto and home insurance. As one of the leading home insurers, it has assets more than $57.050 billion.
3- Portage Mutual Insurance
Portage Mutual Insurance is among the top 3 insurance companies in Canada with the best customer satisfaction ratings. The agency is ranked on top in the West region. It started working since 1884 offering top-of-the-line insurance services through an extensive network of brokers. You will find many attractive services such as identity theft coverage and liability up to $2 million along with optional coverage such as home business. Impressive Though!
4- RSA Insurance
This all-purpose insurance agency offers an assortment of services from home and auto insurance plans to travel insurance products. You can also find all the services online, an authentic broker support site and an active claims process for great customer support. The company is quite popular particularly in Quebec and has assets of more than $4.638 billion.
5- Aviva Canada
Aviva offers extensive coverage for home insurance and all the major components when it comes to insurance policies that perfectly fit for your unique needs. Further, you will find many appealing discounts offers to homeowners to make insurance premiums more reasonable than ever before. Currently, it is among the top insurance companies in Canada with exclusive offers that you may hardly find anywhere else.
6- Desjardins General Insurance
Desjardins General Insurance has received immense popularity, especially in the Quebec region. It offers diverse auto and home insurance products. Recognized in 1900, it is one of the major insurers in North America progressively serving more than 7 million associates of credit unions and other customers.
7- RBC Insurance
RBC Insurance is among the top 10 insurance agencies in the country. Offering wide-ranging auto, home, financial and health services, you will be more than satisfied. Being a subordinate of the Royal Bank of Canada, it is the leading bank-owned insurance agencies in Canada offering services across the country.
8- TD Insurance
Our Final Pick! The insurer is the part of TD Bank Group offering both general and life and health insurance services. It is the direct response auto and home insurance agency in the country. If you want to save on insurance costs, you can also benefit from the exclusive services.
What to Consider for Home Insurance?
While knowing you will be required to pay for home insurance on the property is an important consideration in the decision-making process. Remember a few postal codes are more expensive than others while some fixer-uppers can cost the homeowner in percentages as well as the renovation finance.
You should also compare and contrast the home insurance quotes with authorizations such as overland water, earthquake, etc. according to the most recent and relevant laws to help you with the decision. If you are looking forward to renting out your property, get your tenants to look at the occupant’s insurance can prevent you from getting into any problem. To save some more bucks, you can compare auto insurance quotes at one time and compile them together to save at least 15%.
Factors that Affect Home Insurance Prices
Home insurance payments are generally calculated based on certain factors. Take a look!
- Location of the property. You need to provide the address or zip code to get home insurance quotes.
- Crime rate and occurrence of natural disasters in your locality.
- Your claim history and credit score. If you have made claims on home or auto insurance before, you are more likely to be charged higher. It might be around 15% more with a recorded claim.
- Good credit scores can benefit from low insurance rates.
- Rebuilding or renovation may add up to the insurer’s cost.
- The use of a professional security system can lower home insurance premiums. You can also avail exclusive offers.
In some parts of Canada, the severe weather calamities have inflicted havoc for homeowners. People without insurance coverage are unable to compensate for the massive damages and therefore getting insurance has the utmost significance. If you have read this far, you are more likely to make a smart choice. Go for a reliable and dependable insurer!