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Top 5 Canadian Home Insurance Companies
Chances are that purchasing a home will be the biggest investment you will make. Such an investment needs protecting. Following is a list of five of the top home insurance companies in Canada.
Intact Financial Corporation
Intact Financial is Canada s largest provider of home, auto, and business insurance. Formerly ING Canada, Intact Financial offers a variety of coverage plans from brokers across Canada. Customer service takes center stage at Intact Financial. Examples of this customer commitment can be found in Intact s 24 hour Claim Service Guarantee, and the fact that one out of seven Canadians has chosen Intact Financial for their home insurance coverage.
Aviva Canada offers home insurance that covers not only the home, but all the valuables inside it as well. Homeowners can choose a policy that fits their needs. Add on packages are available for detached buildings, and liability coverage. Home insurance premiums depend on a number of factors such as the age and value of your home, as well as the number of family units contained within. Aviva does, however, offer a number of discounts for a variety of reasons, making insurance coverage more affordable for the average Canadian.
Industrial Alliance is an insurance and financial services company that was founded in 1892. Serving over three million Canadians, Industrial Alliance is the fourth largest health and life insurance company in Canada. The company entered into the auto and home insurance sector in 1973, and offers homeowners three coverage plans. Plan deductibles vary depending on coverage and range from $300-500. Industrial Alliance also offers consumers condo and single dwelling insurance.
The Co-operators Group
The Co-operators Group Limited is a Canadian owned and operated company that serves over $2 million Canadians and has $42.9 million in assets. Farmers wishing to take care of themselves, and their communities built the company in 1945. Today, the Co-operators Group offers homeowners a wide range of policies so that you get the right coverage for your needs. Each policy also comes with 24/7 after-hours service and convenient payment options.
Federated Insurance is licensed in all Canadian provinces and territories. Founded in 1920, Federated Insurance offers homeowners not only comprehensive insurance coverage, but a reputation of excellence as well. The company has been given an A (Excellent) rating from A.M. Best Company, and has received recommendations from over 50 Trade Associations and Buying Groups across Canada.
Canadians have a number of options when it comes to home insurance. This list provides a small sampling of insurance providers, but is based on high customer ratings and usage numbers. When shopping for home insurance, it is important to search for those companies that offer plans that fit your requirements. Gather any information relevant to your coverage, and start shopping for a company that provides what you need. Your home is an investment, and you need to protect it. Whether or not you use one of these companies, having the right insurance is a crucial component to owning a home.