The Economical Insurance Group is a member company of The Economical Mutual Insurance Company, which offers personal and commercial insurance in Canada. The company is based on Westmount Road in Waterloo, Ontario and they currently have 19 branches and more than 2000 employees throughout the country. Economical Insurance is one of the top property and casualty (P&C) insurance companies in Canada. The products they provide include insurance for your home, vehicle and business. The company has more than one million customers across Canada. Economical Insurance partners with independent insurance brokers to help assess their clients specific insurance needs.
Personal automobile insurance from Economical Insurance
Drivers in Canada, like most countries, are required to purchase car insurance for their vehicles. Specific coverage amounts vary by province but most policies provided by Economical will cover you against accidents involving uninsured drivers, repairs if your vehicle is damaged, legal fees if you are sued, rehabilitation expenses and even lost wages. You can also buy personal auto insurance for your snowmobiles, motorcycles, and ATVs.
Other policies & products
There are a number of other products sold by Economical Insurance. These include condo insurance, home insurance, rental property insurance, seasonal property insurance, tenant insurance and watercraft insurance. They also specific policies designed to protect small and mid-sized businesses, groups and associations. Farm insurance is a another common product available to Canadians through Economical Insurance. These policies allow you to insure a farm vehicle, a greenhouse or even a horse. At this time their farm insurance products are only available in Ontario.
A truly Canadian insurance company
Economical Insurance clearly states on their website that they are “not a subsidiary of a foreign-owned company.” Their head office is in Waterloo and most of their branches are located in cities across Canada.
History of Economical Insurance
The success of the Economical Insurance Group began in what is now the city of Kitchener. A group of local residents joined together to help their friends and neighbours during times of disaster and hardship caused by fire and lightning. The very first policy on a house and barn was issued on November 25, 1871 by the Economical Mutual Fire Insurance Company. In 2006 the Mattei Companies of Seattle joined The Economical Insurance Group. Mattei is the first subsidiary of Economical Insurance located outside of Canada.
The Economical Insurance Group is comprised of the following member companies: Economical Mutual Insurance, Family Insurance Solutions, Perth Insurance, Missisquoi Insurance, The Mattei Companies and Westmount Financial.
How to contact Economical Insurance
Economical Insurance has a comprehensive website with a FAQ section, an insurance glossary, a page with links to useful resources on the internet, a media centre, a section describing the products they offer as well as a number of other sections. They also have a search tool that allows you to find Economical Insurance brokers in your area. For more information visit the Economical Mutual Insurance website.