If you’ve ever ordered furniture online, you’ll know that cheaper is not always better. So, when it comes to buying something as important as auto or home insurance, the lowest price should only be one aspect to consider of many.
Most people don’t interact with insurance providers very often, but the rare occasions that they do can be fraught: It could be after a car crash, or a break-in, or awaiting a possible lawsuit or a massive bill. The last thing anyone needs is to sift through confusing policy documents or get lost in a poorly designed insurance portal.
In those moments, you won’t be thinking about all the money you saved on your premium – you’ll be hoping that your insurer is doing all they can to help you resolve the issue speedily and seamlessly.
That’s why RATESDOTCA teamed up with Pollara Strategic Insights on the Best Home & Auto Insurance Awards*, the only awards in Canada based on direct interviews with insurance customers that measure and recognize excellence in the insurance industry.
We surveyed almost 9,000 insurance customers in Ontario and Alberta to get insight on how insurers were performing on all aspects of customer experience. The top overall contenders were judged on what customers thought of their trustworthiness, policy documents, and billing statements.
What are the best home and auto insurance companies in Canada in 2024?
This year, CAA Insurance Company led the top of the scoreboard out of a total of 12 insurance companies, followed by Northbridge Insurance and Wawanesa. They rated highly for policy documents, value for premiums, and coverage options.
Platinum: CAA Insurance Company
Gold: Northbridge Insurance
Silver: Wawanesa Insurance
The Best Auto Claims Experience
When it comes to claims management, customers were most satisfied by Travelers and Aviva for their clear communication and ease of filing. The companies were also praised for their knowledgeable representatives – a must when it comes to talking through more complicated claims.
Platinum: Travelers Canada
Gold: Aviva
Tied for Silver: CAA Insurance Company and Northbridge Insurance
The Most Trustworthy
What makes a company trustworthy is a tough code to crack. The survey asked customers for their thoughts on their insurer’s proactive communication, commitment to the environment and sustainable development, value for money and having the coverages that best fit their needs, as well as overall trustworthiness.
Platinum: CAA Insurance Company
Gold: Northbridge Insurance
Silver: Wawanesa Insurance
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What to look for in an insurance company
Here’s what we surveyed customers on – and what you should be looking for the next time you shop around for insurance.
Billing and payments
A poor billing process can cost customers much more than they signed up for – for example, if the company doesn’t offer the customer’s preferred payment option or give adequate notice to customers on their bill dates.
CAA and Wawanesa both scored highly due to their range of payment options, easy-to-understand statements, and communication and notice around bill payments or billing changes.
Claims management
Claims management should count for a lot when you’re choosing your next insurer. The best insurance companies make it easy for customers to get the answers they need from knowledgeable agents promptly, and using their preferred communication so they can file a claim quickly and seamlessly.
Coverage options
What good is an insurer to you if they don’t have the coverage that you need? Look for companies that have diverse and innovative coverage options so you have the flexibility to live your best life.
Environmental and sustainable development stance
Depending on the customer, choosing an insurance company that aligns with your values might either be a ‘nice to have’ or a ‘must have’. The winners of the Best Home and Auto Insurance Awards all scored above average in that regard.
Policy documents
When dealing with insurance, you don’t want to skip the fine print. The winning companies offered easy-to-understand coverages, clear contact details and key information on premiums and billing schedules.
Price
Let’s be honest: Insurance can be expensive, and buying it doesn’t exactly come with instant gratification. Lucky for us, some of our best scoring insurance companies were praised for offering the lowest rates – without sacrificing service.
Methodology
The Best Home & Auto Insurance survey was completed between August 18, 2023 and September 18, 2023, using an online survey methodology of insurance brokerage customers, including Scoop Insurance. Potential respondents were contacted by their insurance brokerage and the insurance company rated was verified to ensure the accuracy of the ratings.
A total sample size of 8,875 auto insurance customers in Ontario and Alberta – the two largest markets for private auto insurance in anglophone Canada – responded to the survey.
Margin of Error calculations were adjusted to reflect the total number of customer records available based on the population size. Overall margin of error for the survey is ±1.01%, nineteen times out of twenty.
