Economical Insurance Auto Insurance Reviews

The only reason they got 2 1/2 stars is when I phoned my call was answered quickly and professionally. Economical insurance gets zero stars for their Covid-19 driver's relief program. Like everyone else, my vehicle sat in the driveway for most of March, April, May & June. I phone Economical looking for a rebate on my insurance because of this. They offered a $165 discount, which I thought was quite low for a $1,400 premium, but I accepted it. Now they send me an invoice for $78 explaining as far as they are concerned, Covid-19 restrictions ended on July 31st and the $78 is to cover my policy till January. THANK YOU Economical for giving me a $4.05 per week rebate for not driving my truck.

I prefer to pay instalments by VISA and Economical’s phone instructions seem straightforward - until they lose your payment! Having received their letter threatening policy cancellation, I paid by VISA again and contacted our broker, since it’s impossible to reach anyone at Economical. Thankfully, according to our broker, Economical ‘found’ our nearly $700 instalment and credited back to our VISA before the next statement was due. That was in October. In mid-January GM Financial sent us a letter notifying us that Economical had informed them that the insurance on our leased vehicle (my daily car) was CANCELLED as of Jan. 10th! Economical had not informed us or our broker of this important news! If Economical had cancelled insurance on the leased vehicle, logic dictated that it must be cancelled on the 4 other vehicles on the same policy, right?! It took several days to get written assurance from our broker that our vehicles were all covered and even longer for GM Financial to receive confirmation about the leased vehicle. I don’t know whether Economical’s error has impacted our credit rating. Our broker rightly assumes we will want to switch coverage to a different company this year.

I switched over to Economical because my wife's company got a discount. Apparently, it only lasts a year because when I got my renewal (Home and Auto), it increased by almost $1000 annually! We have perfect records and absolutely nothing changed. Potentially an issue is where I live (Brampton/Mississauga) but I've never in 20+ years of driving had an increase like this without a reason. I was told by other insurers that Economical took on A LOT of high-risk drivers and guess who's paying for it... EVERY ONE of their policyholders. My broker was also useless saying it was happening all over Ontario but I was able to get another policy elsewhere for the same premium!

After my accident, I was told by two individuals that because I've been paying car rental insurance that if I chose not to take a rental card, I would be compensated a daily rate. I jumped through hoops to borrow a car so I could use the rental car payment to help cover the insane deductible. On my last call to them, I asked how I would receive payment and was told via cheque. It's now been 5 months, so I called to check-in and have now been told I won't be getting a cheque and that it's not even an offer. I don't appreciate being lied to or misled. I do not recommend using this organization for your insurance needs. Go elsewhere.

After trying to set up a policy they changed all the requirements as were at the dealership. On top of that, they quoted us at 3,686 a year and that was with a 30% discount which I might add, she couldn't give us the full original cost before the discount because they don't offer non-discount rates. Called a broker and in 5 minutes he got us a quote for over $700 less with no discounts. I would rate 0 stars if I could. The company with uneducated employees.