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Scotiabank car insurance review

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Want to insure your vehicle? Check out the car insurance on offer from this reputable Big Five bank.

You can easily apply for a quote online by inputting some simple personal information.

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Roadside assistance

There are a number of different Scotiabank car insurance options and add-ons to help you get the right policy for your unique set of needs. Find out what type of protection you can get with this reputable Big Five bank, and get a free quote to learn how much you’ll have to pay to get your car insured and on the road.

What is Scotiabank car insurance?

Scotiabank is a Canada-wide financial institution that offers affordable car insurance under the brand name, ScotiaLife. This includes third-party liability coverage and extended insurance like comprehensive and collision.

The type of insurance you get will usually depend on what type of car you have and how much you want to spend. It’s easy to apply for a quote online or call in to Scotiabank to speak to an agent about your insurance needs.

What types of insurance does Scotiabank offer?

Scotiabank auto insurance comes in a variety of forms, based on how much protection you want. Mandatory insurance is usually enough for cheaper cars while you may want to pay more for collision/comprehensive insurance if you have a newer or more expensive vehicle.

Mandatory insurance

  • Liability insurance. Covers your costs in the event of accidental damages or injury to someone else in an accident that’s deemed to be your fault.
  • Uninsured auto. Pays for your medical costs and time off work if you’re hurt by an uninsured or hit and run driver.

Collision or comprehensive insurance

Beyond mandatory insurance, you may want to add extra coverage to protect your own vehicle in case of theft or a collision.

  • Collision. Pays to repair or replace your car if you get into an accident with another vehicle or an object (such as a tree or guardrail).
  • Comprehensive. Covers damage caused by incidents such as theft, vandalism, fire, falling objects, lightning or impact with an animal.
  • All perils. Offers a combination of collision and comprehensive to make sure your vehicle is covered for just about any situation.

Can I purchase additional coverage if I want more protection?

Scotiabank offers a number of insurance extras that you can add onto your policy for extra peace of mind. These include the following:

  • Loss of use. Lets you claim the costs of back-up transportation when your vehicle is being repaired as a result of damage or theft.
  • First claim forgiveness. Maintains your premiums at the same level even after you get into your first at-fault accident.
  • Damage to non-owned cars. Offers liability protection when you drive rental cars or other vehicles you don’t own.
  • Roadside assistance. Provides towing and other assistance if you break down and need to bring your vehicle in for repairs.
  • Other endorsements. You may be able to take advantage of other endorsements not listed on the company site if you speak with a ScotiaLife representative.

Scotiabank bundles

Scotiabank does let you save money on your car insurance if you bundle your coverage with your home insurance. You’ll also get a discount if you insure multiple vehicles at one time. You could also be eligible for other discounts based on your driving experience and claims history – but you’ll need to speak to a Scotiabank agent for more information.

What do customers say about Scotiabank auto insurance?

Scotiabank has relatively few reviews online for its car insurance products. For the reviews that do exist, customers seemed displeased with the level of customer service provided. Others also mentioned that it’s more difficult to get low rates with Scotiabank if you’re a high-risk driver.

The lack of reviews might indicate that there aren’t many customers who are turning to Scotiabank for their car insurance. This is often because the rates on offer from Big Five banks are higher than what you’ll get from private car insurance companies.

Benefits and drawbacks of Scotiabank car insurance

Benefits

  • Quick application. You can easily apply for a quote online by inputting some simple personal information.
  • Reputable institution. Scotiabank is one of Canada’s biggest banks and has strong financial backing and standards for customer service.
  • 24/7 claims service. You’ll be able to call at any time of day or night and speak to an agent about your insurance policy or claim requirements.
  • Online account. You can view your upcoming payments, access your policy documents and make changes to your policy with the click of your mouse.
  • Several branches. It’s possible to visit one of Scotiabank’s thousands of physical locations across Canada to speak to a Scotiabank agent about your coverage.

    Drawbacks

    • Very few customer reviews. It’s difficult to get a clear picture of what customers think about Scotiabank car insurance due to limited online reviews.
    • Lack of customer service. Many customers complain that it’s difficult to get help with your insurance since it’s underwritten by another company.
    • Not available in some provinces. You can’t access this insurance in BC, Saskatchewan or Manitoba (and Quebec may have limited coverage).
    • Limited endorsements and discounts. There are few endorsements/discounts listed on the ScotiaLife insurance website.

    What should I know before I apply?

    Eligibility requirements

    To apply for Scotiabank auto 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

    If you want to apply for Scotiabank auto insurance, you need to follow these simple steps:

    1. Visit the Scotiabank car insurance website to submit an application for a quote online.
    2. Provide the necessary documentation – such as a valid driver’s licence and proof of purchase for your vehicle.
    3. Get verified and work with Scotiabank to negotiate the terms of your car insurance if you meet the eligibility requirements.

    How to contact Scotiabank auto insurance

    It’s easy to contact Scotiabank car insurance on its toll-free customer support number during normal working hours. It’s also possible to get in touch with its claims hotline 24/7 if you need to report an accident. You may be able to visit a branch if you’d like to speak to an agent in person about your insurance needs.

    Bottom line

    Scotiabank car insurance is offered in certain Canadian provinces and seems to be a reputable option to insure your vehicle. It offers multiple forms of coverage based on what level of protection you want and how much you’re looking to spend. That said, there are few customer reviews online so it’s difficult to say how Scotiabank car insurance stacks up against its competitors.

    Frequently asked questions

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