Economical Car & Home Insurance Reviews

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Economical Insurance
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Economical Insurance Logo

Founded in 1871 in the community of Berlin (now Kitchener), Ontario, the Economical Insurance company currently serves more than one million Canadians. Economical prides itself on investing in innovation and its commitment to customer service. Economical had 5.9 per cent of the total insurance market share in 2018 in the province of Ontario.

Economical Insurance is owned by the Canadian Property & Casualty Insurance Company. The company owns multiple subsidiaries, including Economical Insurance, Perth Insurance Company, Western General Insurance, Waterloo Insurance Company, The Missisquoi Insurance Company, and Federation Insurance Company of Canada.

Insurance Coverage Offered by Economical

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Vehicle Insurance

Economical Insurance offers coverage for a wide variety of automobiles. They utilize an individualized premium calculation approach, meaning that they tailor premiums based on the individual’s exposure, instead of putting policyholders into brackets like many other companies. They also offer a variety of discounts if you bundle your home and auto insurance, install an anti-theft device, or have multiple vehicles insured with Economical. Discounts may also apply to your policy if you are a conviction-free driver, an accident-free driver, or an experienced driver. Economical offers coverage for these types of automobiles.

  • Cars & Vans
  • Trucks & SUVs
  • Antique Vehicles
  • Snowmobiles
  • ATVs
  • Motorcycles & Mopeds
  • Campers & Motorhomes

Property & Residential Insurance

Economical Insurance offers coverage for property, contents, detached buildings, trailers, watercrafts, home-based businesses, identity theft, and additional living expenses. They also offer discounts if you bundle your home and auto insurance, install a monitored fire alarm

system, install a security system, or have more than one property insured with Economical. If you have a claims-free insurance record or have a mortgage-free home, you may also qualify for additional discounts. Economical offers coverage for these types of properties:

  • House
  • Condo
  • Tenant
  • Cottage
  • Landlord

Farm Insurance

  • Farm Insurance – Includes insurance coverage for these types of industries; hobby, grain, fruits & vegetables, livestock, winery, and cars, vans, & trucks. Coverage is available for your home & property, farm buildings & sheds, farm & personal auto, farm machinery, boilers & equipment breakdown, livestock & hauling vehicles, legal fees (if being sued), pollution liability, harvested crops and spoilage caused by breakdown or power interruptions, computer hardware, business interruption, theft & vandalism, fuel and fuel tanks.
  • Premier Cash Crop Coverage – Includes coverage for these types of assets; farmhouse (own/rent), farm buildings, produce & crops, machinery, liability, and cars, vans, & trucks. Coverage is available for your home & property, farm buildings & sheds, business interruptions, theft & vandalism, farm machinery, boilers & equipment breakdown, legal fees (if being sued), breakdown of computer equipment attached to farm machinery, pollution liability, harvested crops and spoilage caused by breakdown or power interruptions, non-owned farm machinery, loss of use of farm machinery, farm & personal auto, fuel and fuel tanks.
  • Premier Poultry Coverage – Includes coverage for these types of assets; farmhouse (own/rent), farm buildings, produce & crops, machinery, livestock, liability, and cars, vans, & trucks. Coverage is available for your home & property, farm buildings & sheds, farm & personal auto, harvested crops and spoilage caused by breakdown or power interruption, pollution liability, farm machinery, boilers & equipment breakdown, livestock & hauling vehicles, theft & vandalism, fuel & fuel tanks, computer hardware, business interruption, legal fees (if being sued), heat prostration, and extra clean-up costs incurred from a poultry disease outbreak.
  • Premier Dairy Coverage – Includes coverage for these types of assets; farmhouse (own/rent), farm buildings, produce, milk, & crops, machinery, livestock, liability, and cars, vans, & trucks. Coverage is available for your home & property, farm buildings & sheds, farm & personal auto, harvested crops and spoilage caused by breakdown or power interruption, pollution liability, farm machinery, boilers & equipment breakdown, livestock & hauling vehicles, theft & vandalism, fuel & fuel tanks, computer hardware, business interruption, legal fees (if being sued), milk contamination, and semen, semen tanks, and embryos.

Business Insurance

  • Commercial Property Insurance – Includes insurance coverage for these types of industries; manufacturing & wholesale, construction & contractors, transport & logistics, business & professional, realty, restaurants, and retail. Coverage is available for buildings, contents & equipment, stock, business income, privacy breach expenses, electrical and mechanical breakdown of equipment, cargo, crime, and employee fraud.
  • Liability Insurance – Includes insurance coverage for these types of industries; manufacturing & wholesale, construction & contractors, transport & logistics, business & professional, realty, restaurants, and retail. Coverage options are available for general liability, property damage, bodily injury, advertising injury, personal industries, commercial errors and omissions, and pollution liability.
  • Commercial Vehicle Insurance – Coverage options are available for businesses with one to five vehicles, and fleets (more than five vehicles). Additional coverage options include repair & replacement of business vehicles due to damage, operations that travel in the U.S., excess auto liability, and garage operations.
  • Surety Bonds – Includes insurance coverage for these types of industries; construction & contractors, and transport & logistics. Coverage is available for bids, performance, labour & material payments, maintenance & supply, licenses & permits, Canadian customs & excise, fiduciary, and lost securities.

Contact Economical in Ontario

Your Excalibur Insurance broker should always be your first point of contact in the event of an emergency, as well as when you need to make changes to your policy or payment information. However, if you need to contact your insurance provider directly, you can reach them at:

Head Office:

111 Westmount Road South,
P.O. Box 2000,
Waterloo, ON N2J 4S4

 
Phone: 1-800-265-2180
Local Phone: 519-570-8200
Fax: 519-570-8389