When a person applies for car insurance in Canada, the company first completes the primary driver’s risk assessment test. To determine your liability quotient, the insurance company considers multiple factors.
Some of the common ones include your credit score, driving history, gender and age. All the drivers involved in accidents or traffic violations on their driving history are known as ‘high risk clients’. This simply means that they are likely to make claims regularly, thereby costing the insurance company a lot of money. Teenagers and young drivers are also included in the ‘high risk client’ category.
Therefore high risk clients often have to pay higher premiums. In most cases, auto insurance companies charge more to drivers with traffic violations or cases of accidents on the road.
Luckily enough, many car insurance companies in Canada are willing to offer these high risk clients insurance coverage.
If you already know which car insurance companies for high risk drivers that you’d like to shop with, you can click the following link to get reasonable Mississauga car insurance quotes.
Use a reputable insurance brokerage to look for high risk car insurance in Canada
Before diving into the best high risk car insurance companies Canada has to offer, drivers should note that they can find quality high risk car insurance quotes from reputable insurance brokerages.
For those that don’t know, an insurance brokerage is different from an insurance company. Insurance companies offer their own products, whereas brokerages offer a variety of products from several companies.
Working with a brokerage allows drivers to pick and choose various products with ease. Additionally, when you work with a brokerage, like Surex, you can get access to a wide variety of bonuses, from industry expertise to potentially huge savings (often as high as 25% when you bundle multiple policies with the same provider).
Surex is one of the fastest-growing online car insurance providers in Canada. The company has received 4 Stars from Trustpilot and a perfect rating of 4.9 stars on Google. It offers insurance options to Canada and acts as a middle man between an insurance company and the client.
Once you purchase a car insurance policy with Surex, you will be assigned to a dedicated insurance advisor. Your personal Surex insurance advisor will be assisting with all your insurance queries and needs. If you combine Surex home and car insurance, you can receive an overall discount of about 15% on the combined plan. Some types of coverage offered by Surex are:
- Windshield replacement
- Accidental forgiveness
- Rental coverage
- Family protection
- Depreciation coverage
- Collision coverage
- Third-party liability coverage
Now that you’re familiar with insurance brokerages and why they’re important for drivers in Canada, let’s dig into the main question “what is the best high risk car insurance company in Canada?”.
List of the best high risk car insurance companies in Canada
Here are the best high risk car insurance companies in Canada:
Economical Insurance is one of the oldest car insurance providers in Canada. Recently the company has celebrated its 150th anniversary. With such a long history, it is easy to understand why this company is a popular choice among car owners and Canada. Economical Insurance has a wide variety of insurance options which can cover various types of expenses, including:
- Temporary transportation expenses, including car-sharing services or rental cars
- Repair and replacement costs due after an accident
- Legal fees during court cases
- Medical fees and third party damage
- Windshield replacement
- Theft or vandalism related expenses
Additionally, Economical Insurance also covers various types of other vehicles that include:
With all of this in mind, it’s easy to see why Economical Insurance is among the top-rated high-risk car insurance providers in the country.
If you are looking for a car insurance company that can offer good quality coverage at reasonable rates, Aviva insurance is an ideal choice.
Aviva has received an overall rating of 4 stars in the various financial departments. It includes:
- 5 star for its prices
- 2 star for its customer service
- 4 star for financial strength and discounts and optional coverages
Apart from offering standard and optional insurance coverages, the company also offers various discounts to reward its existing customers if they combine their car and home insurance policies.
Some of the lists of add-ones provided to card owners by Aviva are:
- Comprehensive coverage
- Collision protection
- Rental car coverage
- Transportation replacement coverage
- Accidental rating
You can speak with your insurance broker if you’d like to learn more about the benefits of partnering up with Aviva Canada.
Intact Insurance (also known as the Intact Financial Corporation) is third on our list with an overall rating of 4 stars.
- 5 stars for financial strength
- 3 star for customer service
- 4 star for prices and discounts and optional coverage
It is one of the biggest providers of various types of insurance in Canada, and right now, the company has more than 13000 employees offering services to 5 million-plus clients.
Intact Insurance also covers:
Intact Insurance is known for its innovative and unique products. One such product is known as myDrive.
It is a new application that can track the driver’s usage, on-road habits and movements. So if you are a safe driver, the application will take note of this. Most safe drivers using myDrive can save up to 25% on their premium. The myDrive app is just one of the many ways that Intact Insurance pushes technological trends in the Canadian insurance industry.
Endnote about insurance companies for high risk drivers in Canada
Most high risk drivers struggle to find car insurance policies in Canada. However, there are companies out there that will offer coverage at competitive rates even if the person’s driving history is not up to the mark. These insurance companies can be categorized into two types: non-standard auto Insurance carriers and general providers.
However, if you are still confused, you may get in touch with a reputable insurance brokerage, who will help you select the best Insurance company based on your requirements.