Economical Insurance
Compare Economical and other top insurers in less than 4 minutes to get the best price on home and car insurance.
Economical Insurance is trusted by over 1 million customers
Founded in 1871, Economical Insurance is one of Canada’s oldest and largest property and casualty insurers. In 2021, it transitioned from a mutual insurance company to a publicly traded entity. Today, it is listed on the Toronto Stock Exchange (TSX) under Definity Financial Corporation, the parent company of Economical, Sonnet, and other insurance brands.
Sold through brokers like YouSet across Canada, Economical provides insurance for homeowners, condo owners, tenants, and drivers. In addition to personal insurance, they also offer commercial, farm, and group insurance solutions.
Canadians looking to buy Economical home and car insurance can do so through a licensed broker like YouSet.
As a digital broker with access to top insurers, including Economical, YouSet’s mission is to find you the best price on home and car insurance – not just this year, but for years to come. Our powerful algorithms instantly compare quotes from multiple insurers based on your location.
In just 4 minutes, we’ll check if Economical is the best fit for you. If it is, you’ll get the best deal – if not, we’ll find you a better one.
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Founded1871
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Parent companyDefinity Financial Corporation
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Products offeredHome insurance, car insurance, commercial insurance
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Number of customers1,000,000+
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Number of employees3,500+
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HeadquartersWaterloo, Ontario
How to get an Economical insurance quote
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1
Share and compare
3 minutesTell us about yourself, and our algorithms will automatically compare multiple insurers and find exclusive discounts.
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2
Buy online
1 minuteOnce you’re happy with your quote, complete your purchase directly on YouSet through our secure online checkout.
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3
Renew at the best price
You will be notified if your price increases, and we’ll re-shop for a better deal for you.
300,000 Canadians have used YouSet to buy cheaper insurance
Check prices-
Rapid service, all handled via email and text, no waiting on hold.
JJeremy -
Was able to get a policy and a great policy at that, for a super affordable price that was actioned in 24 hours!
IIrshad -
I had already looked for my insurance renewal and thought I had found a good deal. YouSet found an equivalent solution at $400 cheaper.
GGuylaine -
Straightforward service with fast turnaround and kindness. What more could you ask for?
GGina
Economical car insurance
Economical Insurance insures cars, vans, trucks, snowmobiles, ATVs, motorcycles, and motorhomes across Canada so you can drive, ride, and explore with confidence. The coverage you need at the best price, year after year.
Wide range of discounts
Economical offers discounts to help you save on car insurance, from multi-vehicle to anti-theft system discounts.
24-hour claim phone line
With Economical’s 24/7 claims phone line, you have access to support at your fingertips, day or night.
Approved repair partners
When you file a claim, Economical can connect you with an approved Definity Repair Partner for quicker repairs.
Get the best price on car insurance
We put Economical head-to-head against our network of insurers to get you the best possible price on car insurance.
Economical home insurance
Economical insures properties of all shapes and sizes, including homes, condos, rental units, cottages, and rental properties. Even better, YouSet makes it easy to compare rates and purchase a policy at the best price in under 4 minutes.
Network of restoration experts
Economical has a network of trusted restoration and repair contractors to help you in the event of a claim.
Partner repair guarantee
Economical offers a two-year guarantee on repairs completed by an approved Definity Repair Partner.
24/7 claims support
With Economical’s 24/7 claims phone line, you can file a claim 24 hours a day, 7 days a week.
Buy Economical home insurance in minutes
Our algorithms automatically compare Economical and other insurers, plus apply exclusive discounts, to get you the best price on home insurance.
Benefits of buying Economical Insurance with YouSet
Maximum savings, minimal effort. We compare several major Canadian insurers and find exclusive discounts, so you always get the best price, not just today, but every year.
Exclusive rates and discounts
Our technology unlocks exclusive rates and discounts for you, so you never miss out on savings.
Transparent renewals
When it’s time to renew, we’ll make sure you pay the best price, or we will re-shop for a better deal for you.
Proactive price increase alerts
If your price increases at renewal, we’ll alert you and even re-shop with another insurer for you.
Self-serve features
Make modifications and access your documents in one place — even from different insurers.
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We know that insurance can feel intimidating, which is why we created these helpful resources to help you throughout the process.
No, Economical Insurance is not a broker. However, its personal insurance products, including home and car insurance, are sold through brokers like YouSet across Canada.
Economical Insurance is the ninth biggest property and casualty insurance company in Canada, according to the Insurance Bureau of Canada in 2021.
Economical Insurance was founded in 1871, making it over 150 years old. It was established during a period of major growth for the Canadian insurance industry, shortly after Canada’s first insurance law was passed in 1868.
Economical Insurance is owned by Definitity Financial Corporation and has been since November 2021, following Economical’s demutualization.
Economical became a part of Definitity in 2021 when it transitioned from a mutual insurance company to a publicly traded entity. At that time, Definity Financial Corporation was created as the new parent company of Economical, Sonnet, Family Insurance Solutions, and Petline Insurance.
Economical is a well-established and reputable player in the Canadian insurance industry. It is one of the 10 biggest P&C (property and casualty) insurers in Canada and has a financial strength rating of A (Excellent) by A.M. Best Company, both of which indicate that Economical may be a good choice for those looking for a financially stable and trustworthy insurer.