These are Canada’s top auto insurance companies for 2022

With nearly 40 million vehicles registered in Canada, drivers are legally required to have motor vehicle insurance, according to the latest statistics from Statistics Canada (StatCan). However, motorists are inundated with options from a variety of providers, making it difficult to find the right policy to fit their various needs.

Choosing cheaper coverage is often tempting. However, drivers risk suffering more losses, especially if such policies provide insufficient protection. To get the most out of auto insurance, Canadian drivers need to understand the options available and the levels of coverage that different types of insurance offer.

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How does auto insurance work in Canada?

To drive a car, drivers in the country must have car insurance. This is required by law in all states and territories. Being caught driving without a driver can result in significant fines and may affect future insurance eligibility.

However, different states and territories have different motor insurance schemes in place, resulting in varying levels of protection and premiums.

Auto insurance for people living in British Columbia and Manitoba is regulated by government-owned organizations, the British Columbia Insurance Corporation (ICBC) and Manitoba Public Insurance. Auto insurance in Saskatchewan is also operated by the state-owned company, Saskatchewan Government Insurance (SGI), but drivers can purchase additional insurance through private insurance companies.

In Quebec, another public body, the Quebec Automobile Insurance Association (SAAQ), handles personal injury margins, while private companies provide third-party liability, property damage, and additional protection. increase. Drivers in the remaining states and territories can purchase auto insurance from private carriers.

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What does Canadian auto insurance cover?

States and territories have their own rules and regulations regarding mandatory application, but there are similarities. these are:

• Third party liability: This covers legal costs if the driver is responsible for an accident causing personal injury, death or property damage. The minimum amount varies by location, but usually he is $200,000.
• uninsured car/driver: This coverage applies when the policyholder or a passenger is injured or killed by an uninsured driver or in a hit-and-run accident. It also covers vehicle damage.
• accident benefit: If the policyholder is injured in an accident, we will pay medical expenses and income compensation regardless of the perpetrator. It also covers funeral expenses if the driver is injured.
• Direct compensation for property damage: Covering the provinces of Ontario, Quebec, Nova Scotia, New Brunswick and Prince Edward Island, this insurance covers the vehicle and its contents resulting from an accident with another insured vehicle, unless the insured is at fault. Compensate for damage to

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Auto insurance companies also offer optional coverage for added protection.

• Collision range: Compensation for repair costs when the policyholder’s car collides with another’s car or object. It also pays for the replacement cost if the vehicle becomes unrepairable.
• comprehensive coverage: Covers repair costs for damage caused by vandalism, theft, fire, natural disasters, etc.
• Specific Hazard Coverage: This protects against loss due to specific hazards identified in the policy.
• cover all dangers: Mandatory in Manitoba and Saskatchewan. This covers everything under collision and blanket insurance policies and all other accidents beyond the policyholder’s control.

How much does car insurance cost in Canada?

There are several factors that affect the amount of auto insurance premiums nationwide, including the driver’s age, gender, driving history, the type of vehicle they drive, and the level of insurance they purchase. The table below shows how much a driver pays in auto insurance premiums in each state, from highest to lowest, according to the latest data from the Insurance Commission of Canada (IBC).

However, the association points out that the figures are just estimates and the final price will depend on each driver’s specific requirements.

State/Territory	Average annual premium
british columbia	$1,832
Ontario	$1,528
Alberta	$1,316
Saskatchewan	$1,235
newfoundland labrador	$1,168
manitoba	$1,140
Nova Scotia	$891
new brunswick	$867
Prince Edward Island	$816
Quebec	$717

Source: Insurance Canada

read more: Where can I find the cheapest car insurance in Canada?

Who are the top auto insurance companies in Canada?

Insurance Business turned to several online insurance platforms and personal finance websites to find out which insurers in the country offer the best insurance. Apart from pricing, many of these digital channels took customer satisfaction, coverage offered, and nationwide availability into consideration when determining Canada’s top auto insurers. Here are the industry leaders, according to experts. The list is arranged alphabetically.

1. Aviva Canada

Aviva is widely known in the industry for providing quality auto insurance at fair prices. Motorists can also choose from a variety of add-ons, including ride sharing, transit replacement, comprehensive coverage, conviction and crash protection, loss of deductibles, and accident assessment waivers. This insurer is also a good option for Lyft drivers as it is affiliated with Lyft Canada. In addition, policyholders can take advantage of discounts by bundling policies, owning multiple vehicles under one plan, staying claim-free, and being retirees.

2. Bel Air Direct

Another insurer on the list, Belairdirect, a subsidiary of Intact, is known for its high customer satisfaction. One reason is that they have an easy-to-use online platform that allows policyholders to manage their coverage. Drivers can also track claims online or via the insurance company’s mobile her app. Among the additional coverage a driver can purchase is her Autocomfort, which offers roadside assistance, accident waivers, and replacement vehicle and rental car coverage. The company also provides protection to his Uber drivers in Ontario, Quebec and Alberta.

3. CAA Insurance

The Canadian Automobile Association (CAA) is Canada’s most prominent automobile association, serving more than six million customers through more than 100 chapters nationwide. The Group’s standard automobile insurance covers liability, medical expenses and uninsured drivers. CAA also offers several usage-based programs and protection for antique and classic cars.

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4. Collaborator

Another respected name in the industry, Co-operators are known for their bundle discounts and excellent customer service. The company is one of the few insurers to receive a five-star rating when JD Power conducted a car satisfaction survey in Canada. Apart from standard coverage, drivers have a range of options, including accident waivers, loss of use, legal liability for damage to vehicles they don’t own, family protection, and limited exemptions from depreciation. additional charges are available.

5. Desjardins

As one of Canada’s largest auto insurance providers, Desjardins attracts customers with affordable premiums and a wide range of optional coverage, including new vehicle warranties, zero deductibles and accident waivers. Clients can also choose from several discount options. This can be accessed by installing winter tires, being a good student, parking in the driveway or garage, etc. The policy is available for Ontario, Alberta and Quebec drivers.

6.Economical

Economical offers a wide range of coverage, some of which is not readily available from other insurers, making it one of the oldest auto insurers in the country popular with many Canadian drivers. These include windshield damage and lost wages. Customers also have access to insurance plans for snowmobiles, ATVs, motorcycles, campers, RVs, mopeds and campers. Economical offers a variety of discounts, including no convictions, accident forgiveness, and anti-theft devices, and also has decent customer service.

7. Intact

Intact is Canada’s largest auto insurance company and one of the largest specialty insurance providers in North America. Benefits of choosing Intact include above-average discounts and optional coverage. The policyholder can also access his MyDrive program. The program offers discounts on insurance premiums for driving safely. Apart from personal auto insurance, this insurance company covers his Uber and Turo drivers and offers insurance for motorcycles, RVs, snowmobiles, ATVs and boats.

8.TD Insurance

TD Insurance offers the most affordable premiums of all the insurance companies on our list. There are also discounts for driving low-risk vehicles and discounts for driving classes for inexperienced drivers. Customers can also save money on insurance premiums by requesting a quote or buying auto insurance online. Additionally, policyholders can use his TD MyAdvantage app to track their driving habits and receive additional discounts.

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9. The Personal

The Personal is another insurer that received a five-star rating in the last JD Power Customer Satisfaction Survey. The company’s basic coverage includes third party liability, accident benefits, collisions, and uninsured driver coverage. In terms of add-ons, auto insurance companies offer new car coverage, transportation replacement, liability for vehicles you don’t own, and a $0 deductible.

10. Traveler

Travelers offers Canadian drivers a variety of coverage options, affordable premiums and excellent customer service. Applies to personal use vehicles, motorcycles, antique and classic cars, campers, and recreational vehicles such as off-road, ATVs, and snowmobiles. In terms of discounts, policyholders can significantly reduce fees by bundling policies, including multiple vehicles in his single policy, completing his driver training course, and having a clean driving record. I can do it. The company’s IntelliDrive app, which tracks driving behavior, is another way drivers can cut insurance premiums.

11. Wawanesa

Wawanesa, one of Canada’s largest auto insurers, offers a variety of mandatory and optional coverage, allowing drivers to customize the policy to suit their needs. The company is also known for offering affordable car insurance plans. Wawanesa covers private cars, commercial vehicles, motorcycles, recreational vehicles, campers, campers and utility trailers.