Headquartered in Waterloo, Ontario, we’re proud to serve more than one million Canadians across the country through a national independent broker force. As a multi-channel insurance company, we provide Canadians with great service regardless of how they choose to purchase their insurance. Behind the scenes and in the field, it’s our employees and valued broker partners that make all the difference. They’re the reason we’ve come as far as we have, and the reason we’ll go much further still.
TODAY ECONOMICAL IS ONE OF CANADA’S LEADING PROPERTY AND CASUALTY (P&C) INSURANCE COMPANIES.
Investments in innovation, customer service, and operations underpin the future of Economical. Our company is poised to grow, invest, expand, and deliver value to its broker partners and customers. Get ready for the future, with us.
The company has a 4.02% market share, measured by direct written premium in the Canadian Property & Casualty Insurance market as of December 2012. As of 2014, it had about 1.6 billion in mutual policyholder’s equity. It is the 9th largest property and casualty insurance company in Canada, by direct written premium and the 20th largest insurance company in Canada, by total assets.
The firm owns several operating subsidiaries, the largest of which is Economical Mutual Insurance Company. Other member companies are Perth Insurance Company, Waterloo Insurance Company, The Missisquoi Insurance Company, and Federation Insurance Company of Canada.
Economical Insurance Home Insurance plans reward their customers for being safe, smart and loyal, providing discounts for renewals, security systems and fire alarms. Economical Insurance provides coverage for homes, cottages, condos and tenants. Policyholders are have the option of being covered by identity theft, home contents, watercraft and even home-based businesses.
As with their home insurance plans, Economical Insurance rewards drivers who have been safe and loyal. Discounts on premium payments are available to drivers who have been accident- and conviction-free, have anti-theft devices installed, and who have bundled car and home insurance together. Types of vehicles covered include: antique vehicles, cars, vans, trucks, SUVs, motorcycles & mopeds, and campers & motorhomes.
Covering farms and farmers, as well as Canadian agricultural business, Economical Insurance, together with Western General®, have products and services unique to the property and casualty insurance industry. Types of coverage available include: farm buildings & sheds, machinery, fuel & fuel tanks, computer hardware, business interruption, livestock & carrying vehicles, harvested crops & spoilage, and even pollution liability.