When shopping for insurance, Canadians are often met by some of the biggest names in the banking industry, including Scotiabank. As the parent company of Scotia Insurance, Scotiabank offers a wide range of personal insurance products, including car insurance underwritten by Belair Insurance Company Inc. But are they the right match for you, or is there a better option out there?
In this article, we’ll explore some of the potential pros and cons of Scotiabank car insurance, while also highlighting why it’s important to consider alternative providers. This is especially crucial in this case, as Scotiabank doesn’t compare quotes from multiple carriers as a broker, like YouSet, would.
| Pros | Cons |
| Backed by Scotiabank | Restricted to Belair products and pricing |
| Wide product selection | Poor online reviews |
| Perks for Scene+ members | Only available in certain regions |
| 24/7 emergency claim hotline | Limited information available on the website |
✅ Backed by Scotiabank
Scotia Insurance operates under the Bank of Nova Scotia, one of Canada’s “Big Five” banks. This affiliation provides financial strength and stability, ensuring that Scotia Insurance can fulfill its obligations to policyholders.
❌ Restricted to Belair products and pricing
When you buy car insurance from Scotia Insurance, Belair Insurance Company Inc. will underwrite your policy. Unlike brokers such as YouSet, which scans a network of multiple carriers to find you the best price, with Scotia Insurance you’re limited to the products, prices, and discounts offered by this one carrier.
✅ Wide product selection
In addition to car insurance, Scotia Insurance offers a range of other personal insurance products, including home, tenant, condo, health, life, and travel insurance. They also advertise a discount for customers who purchase both home and car insurance, however, bundling with a single carrier isn’t always the best way to maximize savings.
❌ Poor online reviews
As of January 2025, Scotia Insurance’s overall Google review rating was just 2.4 out of 5 stars. While these customer reviews may highlight some concerns, unhappy customers are generally more likely to leave reviews on platforms like this than satisfied ones.
✅ Perks for Scene+ members
Scotiabank’s longstanding partnership with Scene+ can provide perks for members, such as discounts or special offers. However, these promotions change frequently and may not always apply to car insurance. For instance, past offers have included complimentary accidental death coverage, which isn’t directly relevant and won’t help lower the cost of car insurance.
❌ Only available in certain regions
Scotiabank car insurance is available in some provinces but not all. As of January 2025, coverage is available to drivers in Alberta, Ontario, Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador, and Prince Edward Island.
✅ 24/7 emergency claim hotline
Scotia Insurance offers customers a 24/7 hotline for emergency claims, which indicates that it is making an effort to create a more positive customer experience.
❌ Limited information available on the website
During our research, we found that Scotia Insurance’s website provides only basic details about its car insurance offering, requiring us to complete the quote process to access information that is otherwise not readily available.
Scotiabank vs. YouSet Car Insurance
Depending on the quote you receive for Scotiabank car insurance and the conclusions you come to after doing your own research, you might be prepared to consider an alternative provider.
YouSet, for example, is a digital broker with over 300,000 users and an average online review rating of 4.9 stars. As an insurance marketplace, we partner with some of Canada’s top insurance providers and get them to compete for your business so that you ultimately get the best price year after year. But that’s not all. Here are some of the additional benefits of buying car insurance with YouSet.
Best price year-after-year
YouSet’s algorithms are designed to do one thing – find you the best price. Not just the first time you buy either. If your price increases at renewal, we’ll alert you and even help you re-shop with another carrier.
Highly reviewed by Canadians
With an overall rating of 4.8 out of 5 stars on Google, the general consensus among YouSet users is that YouSet is making it easier to find affordable car insurance and buy it online at the best price year after year.
Transparent renewals
Anytime a YouSet car insurance policy comes up for renewal, our team will make sure you’re paying the best price possible for your policy. If that’s no longer working, we’ll help you re-shop another carrier for a better deal.
Buy, manage, and renew your policy online
How much easier would it be if you could purchase a policy, personalize it to fit your needs, make modifications to it, and renew it, all without having to make any phone calls or wait on hold? With YouSet, you can do all that and more with our self-serve features.
Mix-and-match approach to bundling
YouSet is the only digital broker in Canada that automatically compares the cost of bundling home and car insurance from a single carrier against the cost of mix-and-matching home and car carriers. Whichever option offers the maximum savings is the one we present to you.
Looking for the Best Insurance Price ?