Car Insurance and so much more
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Cars, vans, trucks & SUVs
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Snowmobiles & ATVs
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Motorcycles
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Motorhomes & Campers
On the road again: how we straightened everything out for this motorcyclist after a wobbly tire sent him off track
Reversing misfortune: how Definity showed up for a customer when someone backed into his car and left very little information
FAQs
We consider several factors when determining your premiums, including:
- How many claims you’ve submitted in the past
- Information about you (e.g., how long you’ve been a licensed driver)
- Traffic violations (e.g., speeding tickets)
A deductible is the amount that you agree to pay (out of pocket) for claims-related expenses before your insurance company pays for the remaining costs.
Let’s say you have an accident and the total approved cost to repair damages is $5,000. If you chose a $500 deductible when you purchased your policy, you would need to pay for the first $500 worth of expenses, and Economical would cover the remaining $4,500.
TIP: Choosing a higher deductible will lower your insurance premium. Just be prepared to pay for any costs up to that deductible amount when you need to make a claim.
We recommend reviewing your policy at least once a year, but there are certain times when you’ll need to contact your broker to officially update it:
- When your address has changed
- Any time you buy another vehicle
- When there’s an additional licensed driver in your household
- If you’ve changed how you use your vehicle (e.g., for business)
If you’re a driver with Uber in Ontario, Quebec, Alberta, Nova Scotia, New Brunswick, or Newfoundland, please talk with your broker about making sure you have appropriate personal car insurance coverage.
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