Economical Extends Its Temporary Car Insurance Rate Discount in Ontario

Economical Insurance is extending its COVID-19 temporary rate discount for its private-passenger car insurance customers.

The temporary rate decrease will be applied to all new policies written until June 30, 2021, and to policies renewing until August 31, 2021. This discount will be applied until the end of the policy term and will then revert to previously approved rates. The overall rate decrease is 5%, the insurer says.

Economical continues to offer relief measures for personal insurance customers in Ontario on a case-by-case basis, including:

• Adjustments to auto policies to reflect different types of use. For example, customers who are driving less or not currently driving can temporarily reduce or suspend driving coverage.
• Payment deferrals and waiving the first non-sufficient funds (NSF) fee for missed payments due to the pandemic.

Economical’s car insurance customers in Ontario will receive a letter informing them of the discount. If you have additional questions, contact your broker or the insurer directly.

You can also take advantage of RATESDOTCA’S COVID-19 Rebate/Reduced Premium Calculator to see what other insurers are offering their customers during the pandemic.