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For Canadians by Canadians, Economical Insurance has been protecting people from coast to coast for more than 145 years with a variety of home, auto, and commercial insurance solutions. Learn more and leave/read reviews.

Economical Mutual Insurance Co.

HeadquartersWaterloo, Ontario
Employees~ 2,500
Canadian Mkt. Share*4.73% (2017)
Insurance ProductsAuto, Home, Life, Renters, Landlord, Condo, Business, & Farmers Insurance
* Of all private P&C in Canada by net premiums written, excluding life and purely A&S companies.

Economical Insurance Quotes

Get a Quote now

For an Economical insurance quote, Call one of our brokers today to see just how much Economical Insurance has to offer, and how little it will cost: rnSpeak with a broker today: 1-800-731-2228

Company Overview

Economical was started in 1871 by a group of concerned citizens in what is now Kitchener, Ontario, who wanted to help their neighbours through hard times. Over the years, the company has remained true to its original promise of “neighbour helping neighbour” and is now one of the largest property and casualty insurers in Canada.

Economical is known for its:

  • High rate of customer satisfaction with its quick response to customer needs and simple claims options
  • Customizable flex features on almost all of its standard and non-standard insurance offerings
  • Targeted, industry-specific commercial insurance at very reasonable premium rates
  • Reliable and reasonably priced insurance for members of groups and associations

Economical Insurance has a comprehensive line-up of personal, business, farm, and group insurance products. The company’s focus is on developing coverage that meets the needs of the customer, while maintaining a high level of customer service.

Economical Insurance Advantages

Economical Insurance has repeatedly demonstrated that it does everything it can to stay in line with modern insurance developments. This is a company that listens to its customers and makes changes based on their needs. Some of the advantages of working with Economical Insurance include:

  • Stable Corporate Foundation – Economical Insurance is known for its sound financial decisions and its strong underwriting team. In its long history, Economical Insurance has established itself as one of the most stable insurance carriers in Canada. Economical Insurance also works closely with community groups and non-profit organizations throughout the communities it serves.
  • Focus On Cost-Efficiency – One of the core beliefs of Economical Insurance is that it must provide precise solutions for customers at reasonable premium costs. Not only does the company strive for cost-effective solutions for each customer, but it also has developed a long roster of discount options that can help lower premiums.
  • Hassle-free Service Program – Economical Insurance has one of the highest customer satisfaction ratings in the business. Their hassle-free service program guarantees the quality of your repairs, and the prompt, friendly services you deserve. And with 24-hour emergency service, they’ll be there when you need them most.

Insurance Products

Economical Insurance specializes in personal, business, farm, and auto insurance solutions. The company partners with a large broker network across Canada to ensure every solution is tailored to meet the needs of every customer. Economical Insurance does not cut corners on coverage in order to keep costs down — they deliver quality coverage at a competitive price.

Economical Auto Insurance

You’re going places, and Economical Insurance can protect you and your vehicles along the way with a wide range of auto insurance coverage options and discounts.

Economical Home Insurance

Whether you own or rent your home, Economical Insurance can help you protect it with coverage for possessions, structures, identity theft, and additional living expenses. Economical also offers home and auto insurance bundles

Economical Business Insurance

Economical Insurance offers commercial insurance solutions so you can run your business with peace of mind. From customized, industry-specific coverage and discounts to their in-house team of risk services consultants, you’ll be taken care of — and so will your business.

  • Property insurance
  • Liability insurance
  • Commercial vehicle insurance
  • Surety bonds

Economical Farm Insurance

Economical Insurance understands that it’s more than a farm — it’s a way of life. They proudly offer specialized, cost-effective solutions to hard-working farmers in Ontario.

  • General farm insurance
  • Premier dairy coverage
  • Premier poultry coverage

Economical Group Insurance

Economical Insurance makes it easy to save on insurance with their group insurance program. Through your work or association, you could be eligible for exclusive discounts on car and home insurance.

  • Employees of a company
  • Labour union members
  • Professional or alumni groups
  • Non-profit groups or companies

Economical Brands and Subsidiaries

  • Economical Mutual Insurance Company: Founded in 1871, and underwritten by the Economical Mutual Insurance Company except for the province of Quebec where it’s underwritten by Missisquoi Insurance Company (Est. 1835), the oldest Canadian-owned P&C insurer.
  • Economical Select: Discounted group auto and home insurance, underwritten by Waterloo Insurance Company (Est. 1863), which joined Economical in 1980
  • Western General: Insurance for farmer with customized coverage for home, auto, machinery, and operations. Founded in 1905, and underwritten by the Economical Mutual Insurance Company. Western General joined Economical in 1997.
  • Perth Insurance: Canada’s leading special risk home and auto insurer. Founded in 1863 (legal name is Perth Insurance Company). Perth joined Economical in 1968.
  • Economical Financial: Provides financing and support for Economical broker partners, such as equity investments and debt financing. Economical Financial’s legal name is Westmount Financial Inc.
  • Sonnet: Purely online insurance quotes, purchases, and account management. Sonnet was founded in 2016 and underwritten by the Sonnet Insurance Company.
  • Family Insurance Solutions Inc: P&C insurance provider for British Columbia. Founded in 1989 and joined Economical in 1999.
  • Petline Insurance Company: Leading Canadian pet insurer. Founded in 1989 and joined Economical in 2017.

Economical Insurance Quotes

Get a Quote now

For an Economical insurance quote, Call one of our brokers today to see just how much Economical Insurance has to offer, and how little it will cost: rnSpeak with a broker today: 1-800-731-2228

Economical Insurance
Head Office:
111 Westmount Road South, Waterloo, Ontario N2J 4S4, Canada
Phone Number: 1-800-607-2424