The Co-operators Review

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About The Co-operators Insurance

Founded by Saskatchewan farmers in 1945, The Cooperators Insurance Group is a cooperative that is owned and operated by its members which is made up of 46 co-ops, credit unions, and farm organizations. The company has grown to become one of the largest insurance providers in the country.

The Co-operators Insurance offers an array of insurance plans that covers farm, auto, home, life, travel, commercial, and group benefits. With a farming background, The Co-operators is committed to sustainability and corporate responsibility, and has won numerous awards for its efforts on both frontiers.

The Co-operators Key Information

Company NameThe Co-operators Group Limited
Head Office Address 130 Macdonell Street, Guelph, Ontario, N1H 6P8
Fax: 1-866-222-4947
In Business Since 1945
A.M. Best Rating A
Financial Assets$56.4 Billion
Terms and Conditions

How Do I Purchase a Plan with The Co-operators Insurance?

It’s pretty straightforward to purchase insurance with The Co-operators; just visit this page, and select the insurance type you wish to purchase, and get started. 

How Can I Reach The Co-operators Insurance by Telephone?

To reach The Co-operators by phone contact 1-800-265-2662. 

How Do I File a Claim with The Co-operators Insurance?

Sign-In to the Online Services here in order to submit a claim online. You can also call the claims line by phone at 1-877-682-5246 to submit a claim by phone. Claims can also be submitted directly on The Co-operators app on your phone.

The Co-operators Insurance Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages.  Let’s take a look

Why The Co-operators Insurance Could Be Right for You

  • Wide range of insurance products to choose from 
  • Flexible coverage - coverage can be tailored to best suit your needs
  • Co-operative company with a community focus

Why The Co-operators Insurance May Not Be Right for You

  • Time consuming and frustrating claims process
  • High premium prices 
  • Policy coverage limited to Canada

What Does The Co-operators Insurance Cover?

Co-operators Insurance offers comprehensive coverage to safeguard various aspects of life. For homeowners, their policies extend a protective umbrella over dwellings and belongings, shielding against unforeseen perils. Auto insurance ensures both vehicles and drivers are shielded on the road. Tenants and condo owners find tailored plans to secure their possessions and living spaces. Meanwhile, life insurance packages provide financial security for loved ones in times of loss. Permanent life and critical illness coverage offer additional layers of assurance. For businesses, Co-operators' insurance plans mitigate risks, ensuring continuity. With a wide array of offerings, Co-operators safeguards homes, vehicles, lives, and livelihoods.

Co-operators Home & Auto Insurance 

Co-operators Insurance provides reliable home and auto insurance solutions. Safeguarding homes from unexpected events and vehicles on the road, their policies offer peace of mind. With a commitment to protecting what matters most, Co-operators ensure comprehensive coverage for both residential and automotive needs.

Home Insurance

The Co-operators home insurance features convenient and flexible payment options, with the option to pay monthly and online. The insurance plan provides after-hour claims emergency services which are available to the insured around the clock. The prestige insurance option is the right option for you if you have higher-valued homes, and it includes extensive coverage. In addition to the prestige insurance plan option, the classic insurance option is available at a lower-premium. The classic insurance option includes all kinds of coverage, liability coverage, dwelling homes only, detached structure homes only, identity fraud, personal property, personal property moving coverage, dishonesty of others, dwelling lock replacement or re-keying, vehicle lock replacement or re-keying, student property, family member’s property in healthcare facility, money and cash cards, securities and more.

Tenant Insurance

The Co-operators offer one of the two categories of coverage under tenant insurance namely: classic and prestige coverage. The classic plan includes coverage for damage, liability coverage, dwelling homes only, dwelling structure homes only, identity fraud, personal property, personal property moving coverage, dishonesty to others, dwelling lock replacement or re-keying and others. The premium coverage includes all the coverage in the classic plan, as well as additional coverage for things like unintentional damage. The Cooperators tenant insurance is very affordable and can be used to effectively protect your valuables.

Condo Insurance

The condo insurance includes prestige and classic options. These options determine the kind of losses and damages covered by the plan. While the classic plan covers the basics, the prestige coverage is more extensive. The condo insurance covers the owner for both personal property and liability. Coverage allows policyholders to make improvements in the units such as adding a new carpet, cupboard, bathroom fixtures and ceramic tiles. The insurance plan works to take care of damage or loss that occurs due any deficiency in the condo corporation’s policy. Add additional insurance to the policy in order to cover items like bicycles, watercraft, jewelry and so forth.

Seasonal & Mobile Homes Insurance

This plan covers all seasonal homes, mobile homes, cottages, trailers and boats and more. The prestige insurance option is suitable for higher-valued homes. It covers everything under the classic option plus damages done unintentionally such as paint-spilling on carpets. The classic insurance includes liability coverage, dwelling homes only, detached structure homes only, identity fraud, personal property, personal property moving coverage, dishonesty of others, dwelling lock replacement or re-keying, vehicle lock replacement or re-keying, student property, family member’s property in healthcare facility, money and cash cards, securities and many others.

The Co-operators Auto Insurance

The requirements for auto insurance in Canada depend on your province. Provinces like Saskatchewan, Manitoba, or British Columbia require a basic auto insurance to cover the vehicle’s owner/driver as well as the passengers. Auto insurance available with the Co-operators must include liability, accident benefits, uninsured automobile, direct compensation property damage (DCPD). With the Co-operators auto insurance policy, the insured can leverage value-added coverage to be fully protected in case of damage or theft and collision. The Co-operators auto insurance is comprehensive. It is not just limited to dangers and threats like collision, but it also includes damage caused by flying objects, vandalism, projectiles and others. The plan also includes optional coverage with endorsements such as loss of use, accident forgiveness, family protection endorsement, legal liability for damage to non-owned automobiles, a limited waiver of depreciation, and others. The auto insurance policy can be easily created online.

Co-operators Life Insurance Products

Co-operators Insurance offers a range of life insurance products designed to provide financial security and peace of mind. From traditional life insurance to permanent life and critical illness coverage, their plans ensure that loved ones and individuals are well-protected in the face of life's uncertainties.

Term Life 1

Term Life 1 is a term life insurance policy that is available for anyone between the ages of 18 and 49. The coverage with this plan is between $50,000 and $475,000. The insurance plan allows you to manage your life at every stage such as marriage, retirement and getting a new career. The tools and resources available in the platform are always available to you. There are also expert financial advisor services at your disposal.

Versatile Term

The plan includes five terms namely 10, 15, 20, 25 and 30-year terms. You are free to choose the term that fits you best. Each of the terms can be renewed when they expire. The premiums for each of these plans are very affordable and will serve your purpose for the suitable term. In the event of your death, a death benefit will be paid to your beneficiary. Provided you are not yet 70 years of age, you can easily convert your policy to a permanent insurance policy. You can apply for the plan and get a quote online.

Whole Life

All permanent life insurance needs are covered by the whole life suite including funeral costs, financial needs, debt payment and cost of estate settlement. The cash value of this plan is guaranteed, and policyholders can access the funds through policy loans and partial surrenders. In the event that premiums cannot be paid for some time, the automatic premium loans kick in. In this case, accumulated cash values can maintain the policy. The premium can be paid to cover the policy life, or just for a period of 20 years. The insured must be between the ages 0 to 80 to procure this plan, and the coverage amount begins at $25,000. You can cover your children with the Head Start policy, an option under Whole Life. This ensures sufficient coverage for your loved ones throughout their lifetime.

Universal Life Suite

Universal life includes several plans and products with different interest values, such as Universal Life IIa, Universal Life II, and others. You can choose plans that suit your specific stage in life. There are even plans suitable for business owners. The Co-operators Universal Life plan makes it easy for you to choose when to have your premium holidays. You can easily choose this option when you run into a tight budget or have an unexpected cost. This insurance plan is designed in such a way as to adapt to your changes and lifestyle. It includes several investment accounts that can be mapped to your specific risk profile. You have an opportunity to save your money in a tax-advantaged account.

Infinity Term

The coverage amount starts from $25,000. The plan features two coverage options namely Life-Pay and 20-Pay. The age range for Life-Pay is between 0 and 80 years, whereas the age range for 20-Pay is between 0 and 70. The plan can provide sufficient coverage for your family life, business, and the premium level is guaranteed and pays up fully when the insured reaches age 110. Infinity Term comes with a slew of riders and benefits that makes it easy for you to tailor the plan to your exact specifications. It is a very affordable permanent life insurance option but it does not have a savings component. It is very easy to convert an infinity term to a permanent life insurance plan at a very affordable cost.

Responsibility and Responsibility Plus

The plan is for people who are on a fixed retirement income or between the ages of 40 and 80. You don’t need a medical examination or blood test to procure this plan. The coverage amount for this plan is up to $25,000. Even though this plan has a very affordable premium, the premiums are guaranteed to never increase. If the insured dies accidentally, the beneficiary will be paid four times the coverage amount. The insurance benefit can be used to take care of your children or grandchildren's education; cover your medical bills or funerals; or provide a financial gift to a church, your family, or a charity.

Critical Illness

The plan does not just include standard critical illness, but you can add an additional feature such as the Best Doctors program, and Early Assist benefit. Your family can make the most of the tax-free financial cushion provided by the Critical Assist plan anytime you need it. You are guaranteed to receive a partial payout or a lump sum payment if diagnosed with any of the illnesses covered by the plan. The plan provides an easy way for you to pay up loans and mortgages in case you are not able to continue working. Depending on the coverage option you choose, a tax-free lump sum benefit ranging from $25,000 to $250,000 will be paid to support your child’s recovery if diagnosed with one of the 36 illnesses covered by the Critical Assist head start. You have access to over 50,000 global networks of doctors to provide you medical advice. You can also obtain confirmation for your diagnosis and access specialist care through this service.

Mortgage Insurance

Mortgage guard includes an optional critical illness policy which protects you and your family against life-threatening illnesses and disability. The critical illness and disability option of this plan includes the Best Doctor Service. This allows you to access top medical experts to get the best medical advice available. With the critical illness and disability option, you will receive a lump sum if you survive the waiting period after being diagnosed with a life-threatening illness covered by the plan. The premium rate for the mortgage guard policy is guaranteed to not increase during the policy term. You can use the mortgage fund in any way you choose, whether to maintain a quality life, invest in your future, or pay off your mortgage.

Co-operators Business Insurance  

Co-operators Insurance understands the unique challenges businesses face. Their business insurance solutions offer comprehensive coverage to mitigate risks and ensure continuity. From safeguarding assets to protecting against liabilities, Co-operators' tailored plans provide businesses with the confidence to navigate uncertainties and thrive in a dynamic environment.

Business Property Insurance

Otherwise known as commercial property insurance, the Business Property Insurance from the Co-operators offers coverage for the properties that businesses own, plus the inventory and contents inside those buildings and structures. The plan is customizable with basic or extensive coverage that includes coverage for loss of income, damage, or theft. Additional customizable plan details can include coverage for losses incurred due to damage, equipment breakdown, and earthquake. 

Liability Insurance

This is the go-to plan if for any reason you have to defend your business in court. The commercial policy package of this plan covers property damage, bodily injury, medical expenses, personal and advertising injury. It protects you from any injury resulting from your product in or out of your business premises, and also for accidents resulting from your products and operations. The coverage provides you with the funds needed to cater for damages and to also compensate the third parties and cover the legal fees. The provided fund is usually up to your policy limits.

Equipment Breakdown Insurance

The equipment breakdown insurance covers a lot of interruptions in business provided they are included in the policy. It also covers spoiled contents or inventory, and property damage. All kinds of electrical and mechanical items can be insured by this coverage. In fact, any business equipment, whether mechanical or electrical, capable of breaking down can be insured. You can customize your equipment breakdown insurance even further if you have specialized equipment. Additional coverage can be added to your policy to specifically cover for equipment such as production machines and also for electronic equipment. Equipment that is not automatically covered by the standard commercial property policy is covered by this plan. The coverage protects your equipment against any kind of spoiled inventory or content, property damage and also business interruption provided in the policy.

Loss of Income Coverage

Loss of Income Coverage from The Co-operators is temporary coverage to cover your lost income while your business is being restored. This is a rider that is added to the Business Property Insurance so that you can have assurance that you are well protected. This coverage can pay up to the actual loss incurred to your business. Rental value may also be covered here.

Cyber Guard Select Coverage

This is for businesses that store sensitive customer data on a digital platform. Protect your business assets from a cyber-breach, or perhaps losing a laptop. The Cyber Select coverage is a rider that can be added to the Co-operators Business Property Insurance for added protection. Cyber Guard Select will include privacy breach expenses that cover the costs of complying with privacy laws; and business interruption to cover the costs of loss of income due to a privacy breach. 

Crime Coverage

With the crime coverage protection, you will have access to the service of Co-operators financial advisors. The service will help you to customize the destruction, comprehensive dishonesty, and disappearance coverage. The coverage can protect your business from losses due to employee dishonesty, professional fees, deposits forgery, counterfeit money or money orders, and loss of securities or money within or without a business premise. Janitorial operators who are legally liable to a property can also be covered by this service on those properties. The service of the financial advisors can also be leveraged to get advice and tips on how to reduce crime in a business.

Co-op Guard Insurance for Co-operatives

All the protection you need for your co-operative are combined under one complete package in the Co-op guard. The essential liability coverage offers you financial protection against lawsuits including commercial general liability, blanket accident insurance, tenants legal liability, and non-owned auto liability. The specialty liability coverage includes protection from claims that may result due to your actions. It covers sexual misconduct or abuse liability, error and omission liability, privacy breach coverage, and more. It also includes commercial auto insurance which protects against third-party liability, physical damage, and garage auto insurance. The Co-op Guard will protect your mechanical equipment against any form of breakdown such as cracks and ruptures. It includes group benefits and group RRSPs that protect your employees and makes it easy for your employees to save for their retirements. This coverage is very affordable and can be easily accessed any day and anytime. The 24-hour emergency hotline is also available for you to leverage.

Community Guard Insurance for Non-Profits

This is an insurance policy to protect volunteer and non-profit organizations. The plan includes coverage for liability and property damage. Premiums won’t ever increase more than 5% per year. Connect with a financial advisor who is well-versed in non-profits in order to better assist you, and take advantage of the 24-hour claims emergency helpline.

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