Personal Finance

House / car insurance - which company is trustworthy?

  • Last Updated:
  • May 6th, 2019 11:22 am
[OP]
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Dec 28, 2010
637 posts
286 upvotes

House / car insurance - which company is trustworthy?

I was reading reviews about my own insurance company Economical the other day and I was shocked by the sheer amount of bad reviews. At that moment, I considered switching right away, better pay a little extra I thought. But then, I found that TD has the same bad reviews. And all the others as well.

So now my question is if I'm looking for an insurance company, one that doesn't give me a lot of doodoo when accidents happen, how would I find that. I assume it's easy to find bad reviews but I like a trustworthy one. What company are you with and how have they treated you when you filed a claim?
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12 replies
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Dec 6, 2010
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None of them are trustworthy basically lol.....but they are all bound to act pretty much the same way as per the law and regulations so you should be OK with anyone of them.

I have used Johnson, ING, Economical and Travellers so far and haven't had any issues
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Aug 22, 2011
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Center of Universe
Is this a rhetorical question?
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Feb 19, 2010
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vkizzle wrote: Is this a rhetorical question?
Exactly. OP might as well ask where we can find an honest politician too.

Bottom line is that every insurance company is the best one...until you need to make a claim. That's the only time you're going to find out for sure just how good they aren't.
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Oct 13, 2007
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Edmonton
VESTEGAARD wrote: I was reading reviews about my own insurance company Economical the other day and I was shocked by the sheer amount of bad reviews. At that moment, I considered switching right away, better pay a little extra I thought. But then, I found that TD has the same bad reviews. And all the others as well.

So now my question is if I'm looking for an insurance company, one that doesn't give me a lot of doodoo when accidents happen, how would I find that. I assume it's easy to find bad reviews but I like a trustworthy one. What company are you with and how have they treated you when you filed a claim?
Most companies are reputable ones. The reviews are from people who are dissatisfied as a result of their own ignorance. Generally, people are upset enough to post a bad review but not many people will think to provide a positive review of an insurance company i f everything is going smoothly. Having worked in claims, I can confidently state that there are a lot of people that really have no clue about their policy and what it covers, this despite many policies now being written in very easy to understand English. Unfortunately, these same people have expectations, mostly unfounded expectations, and get upset when these expectations are not met.

The most common thing I heard was the old "I've been paying insurance for X number of years and now that I need it, it's useless". Yes, but your claim is excluded from coverage. It's in the wording and has been since day one. Nobody has ever represented otherwise.
Last edited by starchoice on May 3rd, 2019 11:58 am, edited 1 time in total.
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Mar 18, 2005
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I can say I had a decent experience with TD. They sent out a crew very quickly when I had a sewer backup, my basement got cleaned very well and the fans were in place. That wasn't any issue at all. The only issue I had with them was my adjuster just wasn't quick to respond to phone calls and at one point went on vacation for a week without telling me or any other clients I'm sure. This was when everyone in Canada was getting flooded so I'm sure they were getting hammered with claims.

The person who came to do the inspection at my house at first didn't want to replace my washer, dryer and furnace but because she was skeptical they actually got wet and she couldn't see any water damage on them. As soon as I showed her the photos from my phone showing that they were indeed partially under water we moved on and all was good.

They gave me the option to payout 80% of my claim and on receipts required or 100% of my claim and I'd have to show my receipts.

Overall, they covered the damaged and cleaned my house without too much fuss, they were just a bit slow.

That is my purely anecdotal experience with TD.
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Jan 21, 2014
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My quote from Sonnet (Economical Insurance is the parent company) is like $600/year cheaper than my current quote from The Personal that we have right now. I am a bit skeptical why it’s so much different, is Sonnet an OK company to get insurance from?
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May 24, 2018
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Ontario
Would some of them attract *new* clients with lower premium for the first year only to catch up in later years ? My premiums ( property+auto ) are increasing non-linearly in the past several years.
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mkl38s wrote: My quote from Sonnet (Economical Insurance is the parent company) is like $600/year cheaper than my current quote from The Personal that we have right now. I am a bit skeptical why it’s so much different, is Sonnet an OK company to get insurance from?
I was in the exact same boat. The Personal is a horrible company IMHO as I had many dealings with staff lacking knowledge. This company also does not even offer an RV floater. I switched to Sonnet. It’s cheaper because it’s direct, online. There are no broker or agency commissions. Coverage is also excellent.
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Jun 29, 2007
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mkl38s wrote: My quote from Sonnet (Economical Insurance is the parent company) is like $600/year cheaper than my current quote from The Personal that we have right now. I am a bit skeptical why it’s so much different, is Sonnet an OK company to get insurance from?
Principal residence or rental property? I Sonnet for past 22 months for my rental houses. 2nd yr rates have gone up from 1st yr but still quite a bit cheaper. I couldn't believe how cheap they were first yr. Their rate is higher for my principal residence though.

Their website and customer service are good. But again, you never know until you make a claim. I was initially skeptical and did as much research as I could.
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hwyc2007 wrote: Would some of them attract *new* clients with lower premium for the first year only to catch up in later years ? My premiums ( property+auto ) are increasing non-linearly in the past several years.
Yes, I found that to be the case as well.
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Jul 25, 2008
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Do a search in CBC, CTV and Global for news on Insurance.
A few companies definitely in the bottom rotting.
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Oct 7, 2007
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Conquistador wrote: Exactly. OP might as well ask where we can find an honest politician too.

Bottom line is that every insurance company is the best one...until you need to make a claim. That's the only time you're going to find out for sure just how good they aren't.
You can use canlii.org to search for any insurance company you are considering going with to see how many times they have been sued for not honouring a claim.

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