Founded in the 19th century, Economical Insurance is another leading Canadian property and casualty insurer. Its headquarters are located in Waterloo, Ontario with offices across the country. Economical offers automobile, property, liability, agriculture, and surety insurance.


World Finance Magazine has named Economical Insurance as Canada’s best general insurance company for 2014, based on “quotes, retention rates, customer satisfaction, training and best practices.”

Overall: 4.7/5
Product/Flexibility: 4.3/5
Coverage + Specialization: 4/5
Claims Service: 4.8/5
Price: 4/5

Economical Auto Insurance Quote

Economical Insurance has been one of the largest carriers in Ontario and Canada for over a century. Founded in 1871, the Waterloo-based Property & Casualty insurance company offers automobile, home, liability, surety, and agriculture policies. Economical holds regional offices across Canada and currently enjoys a near-five-percent P&C market share.

The company is also one of the largest mutual insurance companies in Canada with 1.6 billion in mutual policyholder equity (2014). However, in late 2015, Economical Insurance announced it would take advantage of the federal government’s decision to allow P&C insurers to demutualize. After being granted policyholder and board backing, the company began the process of becoming a private company, a path that should be completed in 2018.

Over its long history, Economical Insurance has made numerous acquisitions and holds several significant subsidiaries. The largest is Economical Mutual Insurance Company. Other held companies are Perth Insurance Company, Waterloo Insurance Company, The Missisquoi Insurance Company, and Federation Insurance Company of Canada.

Auto, travel, and home insurance customers can shop for Economical Insurance quotes online with Our powerful quote engine is easy to use and can surface quotes in under a minute. Shopping around for coverage is important as it ensure you get the best possible policy at the lowest possible price.

Unlike other outlets, does not work for Economical Insurance, or any other individual insurance company. This means we are impartial and can put the interests of the customer first. With our quote tool, you can get the best price from the company that suits your needs, with no strings attached.

Reasons ShopInsuranceCanada customers choose Economical Insurance:

  • High Quality Company with Long History: Economical is among Canada’s most respected personal insurance providers. Over its history, the company has been recognized as being financially secure, receiving an A rating for independent rating company A.M. Best.
  • Flexible Product Lines: In terms of solutions, Economical Insurance is dynamic and consistently working to meet customer demands with new lines.
  • Noted Customer Service: The company often ranks highly on customer service surveys, with a 92% customer satisfaction score. Economical provides 24/7 claims support.

Personal Car & Vehicle Insurance

Get flexible insurance coverage for all types of vehicles including:

  • Car insurance and other vehicles like vans and trucks
  • ATVs and snowmobiles
  • Motorcycles and mopeds
  • Antiques and high-value vehicles
  • Camper, trailer or RV

Personal Home & Property Insurance

Economical has policies to protect homes and belongings. Customers can choose from the following packages:

  • Home insurance – for your principal residence
  • Home away from home – cottage or second home insurance
  • Insurance for an investment property – insurance for landlords
  • Home office – for business services who work from home
  • Hobby insurance – for boat owners