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Economical car insurance review

Are you looking to purchase car insurance? Find out what types of coverage you can get with this provider.

You can sign up for Economical car insurance in most parts of Canada – even in provinces with mandatory government insurance.

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Please note: All information about Economical car insurance has been collected independently by Finder and this product is not available through this site.

Economical car insurance offers multiple forms of coverage to customers across Canada. This includes third-party liability, collision and comprehensive insurance. As an added benefit, Economical also specializes in offering affordable protection to high-risk drivers who may not be able to qualify for reasonable rates with other insurance companies.

Find out how you can get car insurance with Economical, and sign up today to get your vehicle back on the road.

What is Economical car insurance?

Economical Insurance is a car insurance company that offers several forms of coverage across Canada. In addition to selling everyday coverage, such as mandatory and extended comprehensive and collision protection, this provider is also well-versed in insuring customers with not-so-perfect driving records.

For all types of insurance, you’ll usually pay slightly higher rates with Economical than you will with many budget providers. That said, you may be able to qualify for a number of discounts depending on your personal circumstances. You’ll also be able to rely on a customer service guarantee that’s designed to make dealing with an accident easier.

What types of insurance does Economical car insurance offer?

You’ll be able to take advantage of multiple forms of car insurance coverage with Economical.

Mandatory insurance

Most provinces require you to have a mandatory level of coverage that includes the following:

  • Liability insurance. Covers the cost of vehicle damage and medical expenses for another driver if you get into an at-fault accident.
  • Accident benefits. Pays for any medical bills or time off work that you or your passengers might need as a result of an accident.
  • Uninsured driver. Gives you financial protection if you get into a collision with an uninsured or hit and run driver.

Collision or comprehensive insurance

You can add additional forms of coverage (either separately or together) to protect your own vehicle from damage or theft:

  • Collision. Covers your costs to repair or replace your vehicle if you get into an accident or hit an object (such as a lamp post or guardrail).
  • Comprehensive. Pays for damage caused by incidents such as theft, vandalism, fire, falling objects, lightning or impact with an animal.

Can I purchase additional coverage if I want more protection?

You may be able to cap off your coverage with a number of additional add-ons, depending on availability in your province:

  • Depreciation waiver. Covers your new vehicle for the full purchase price or the manufacturer’s suggested retail price (instead of the depreciated price).
  • Loss of use. Reimburses you for costs related to finding alternate transportation if your vehicle is undriveable as a result of a covered claim.
  • Rental car insurance. Gives you third-party liability coverage when you drive a rental car or another vehicle that doesn’t belong to you.
  • First-claim forgiveness. Maintains your premiums at the same level even after you get into your first at-fault accident.
  • Other endorsements. You may be able to take advantage of additional endorsements if you speak to an agent about what’s available.

Economical car insurance bundles

You’ll be able to bundle your car and home insurance into a package deal to save money on both policies. You’ll also usually get a discount if you insure multiple vehicles at one time. You may even be able to qualify for additional discounts depending on your driving experience, claims history and what type of car you drive.

What do customers say about Economical car insurance?

Economical car insurance has fairly poor reviews online, though this seems to be the case with most car insurance companies. For example, it has a rating of 1.4 stars out of 5 on the independent review site, InsurEye (as of 10 August 2020).

While a handful of customers praise Economical, many are unhappy with the overall performance of the company. Negative reviews are widespread and cover every type of issue ranging from high prices and poor customer service to rate hikes and slow claims processing times.

Benefits and drawbacks of Economical car insurance


  • Multiple discounts. You could save hundreds of dollars on your car insurance, depending on what discounts you’re eligible for.
  • Canada-wide coverage. You can sign up for Economical car insurance in most parts of Canada – even in provinces with mandatory government insurance.
  • Insurance for high-risk drivers. You should be able to qualify for insurance even if you have a less-than-perfect driving record.
  • Multi-vehicle insurance. You can insure a number of different vehicles at one time, including cars, antique vehicles, recreational vehicles and campers.


  • No online quotes. You can only apply through a broker and it’s not possible to get a quote online to see how much you’ll have to pay.
  • High rates. Economical car insurance offers higher rates than some other providers based on multiple comparisons.
  • Negative reviews. There are a number of negative reviews for Economical citing frustration over rate hikes and poor customer service.
  • Limited endorsements. Economical doesn’t list the endorsements that it offers with its policies on its website.
  • No insurance for Uber drivers. You won’t be able to apply for this insurance if you’re an Uber driver.

What should I know before I apply?

Eligibility requirements

To apply for Economical car insurance coverage, you need to meet the following criteria:

  • Be at least 16 years old
  • Have a valid Canadian driver’s licence
  • Own the vehicle you wish to insure
  • Fulfill additional criteria based on which province you live in

How to apply

You can apply for Economical car insurance by following these steps:

  1. Visit the Economical car insurance website and enter your postal code to find a list of brokers near you.
  2. Make an appointment and provide the necessary documentation – such as a valid driver’s licence and proof of purchase for your vehicle.
  3. Get verified and work with Economical to negotiate the terms of your car insurance if you meet the eligibility requirements.

How to contact Economical car insurance

You’ll typically contact Economical car insurance through your broker as a first point of contact.

From there, your broker will be able to help you answer any questions you may have about your policy, including how to file a claim, change your coverage or pay your bills. You can also contact Economical‘s head office for general inquiries.

Compare other free car insurance quotes online

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Surex Auto Insurance
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Sonnet Auto Insurance
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Who it might be good for: Drivers looking to get car, motorcycle, classic car, motorhome or recreational vehicle coverage.

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Bottom line

Economical car insurance offers reliable coverage for just about any vehicle. It offers a number of policies tailored to meet your unique set of needs and budget. Just be aware that it may be a little bit more expensive than other providers and you’ll need to apply through a local broker.

Frequently asked questions about Economical auto insurance

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