isure Approved Insurers

Economical Insurance

Economical International

Founded in 1871, we’ve been protecting Canadians’ homes, cars, businesses, and farms for a long time now. Because our customers are at the centre of everything we do, we make one simple promise: We’ll be there for you when you need us most.

With a 89% customer satisfaction score in post-claim surveys, we’re proud of our reputation as an insurance partner Canadians can count on to protect what matters most — at home, at work, and on the road.

Economical CANADA

Founded: 1871
Headquarters: Waterloo, Ontario
B: Independent Broker
isure-approved since: 1998 (with isure badge)
Isurance Products:
Personal- Home, Auto
Business- Property, Liability, Commercial Auto, Surety and Oilfield
Services
Group- Group administrators
Farm- General, Premier Dairy, Premier Poultry and Premier Cash Crop

About Economical Insurance Company:

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For Canadians by Canadians, Economical Insurance is one of Canada’s leading property and casualty insurance companies, serving more than one million Canadians across the country. Offering a wide range of personal, commercial, farm and surety products, all of Economical’s products are supported by a solid history, financial stability and fast, efficient service on claims. They are going to be the first property casual insurer company in Canada that has transitioned from a mutual company to a stock company, making it the second largest Canadian insurance company that Canadians can buy shares in. Read more about their demutualization on their website: https://www.economical.com/en/financial-corner/demutualization. Economical invests $1 million every year into charitable organizations and causes that make a difference in communities where they do business. Underwritten by the Economical Mutual Insurance Company.

Economical Insurance Group subsidiaries

INSURANCE COMPANY

HISTORY

Perth Insurance Company

Based out of North York, Ontario, Perth Insurance is a leading insurance company in Canada that targets high-risk drivers and home owners. Perth gives you a chance to improve your auto
insurance records with policies that can be customized to suit your situation. They are a member of the Economical Insurance Group.

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Family Insurance Solutions Inc.

Founded in 1989, Family Insurance Solutions joined the Economical family in 1999 and has become a leading distributor of personal insurance in British Columbia.

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Petline Insurance Company

Petline Insurance joined the Economical family in 2017 as Canada’s oldest and largest pet health insurance company. Its core brand, Petsecure, leads the market with innovative coverage options to meet the diverse pet insurance needs of Canadians.

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Sonnet Insurance Company

Launched in 2016 by Economical, Sonnet is underwritten by the Sonnet Insurance Company, bringing an innovative new insurance experience to Canadians who prefer to purchase insurance directly online. Specializing in Home, Auto, Condo, Tenant, Landlord and Pet insurance products.

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Waterloo Insurance Company

Waterloo Insurance Company offers its products and services through independent insurance brokers. Brokers are the consumers’ only option for INDEPENDENCE and CHOICE. Insurance brokerages are independently owned, offering insurance policies through insurance companies with whom they are contracted.

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Why isure works with Economical?

Economical offers expanded product offerings, including their related subsidiaries, Perth Insurance (a strong high-risk auto insurer) and Economical Select (their group insurer, where we write members of the Vaughan Chamber of Commerce.)

A note about Economical Insurance Company from isure’s CEO/founder, Dario Battista:

They are transforming themselves from a traditional mutual to a leading-edge stock company insurer, building on their sophisticated database to benefit their target market customers.

RATE MONITOR

% INCREASE 2017% INCREASE 2016% INCREASE 2015% INCREASE 2014% INCREASE 2013% CHANGE% MARKET SHARE
Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Since Q1-20082016201520142013
   -1.02    -3.46 -3.66 -0.58    -11.08   0.86 11.923.553.32

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