Cumis General Insurance Company Car Insurance Review

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Cumis General Insurance Company Overview

If you are looking for a bit of a smaller insurance company that is run under the wing of a big brand name insurance company, you may be interested in taking a look at Cumis Insurance. The company is jointly owned by Co-operators insurance. Cumis is partnered with credit unions and is actually the leading company in providing insurance products to Canadian credit union systems throughout Canada. The company works with around 380 different credit unions to help all kinds of customers with their insurance needs. Altogether, Cumis serves over five million members. This has helped the company be able to be ranked 65th for profit amongst insurance companies in Canada in 2015 with a total profit of $2,544,000.

Products Offered by Cumis General Insurance

In order to help you be able to decide if Cumis General Insurance is a company you are interested in getting insurance with, you may want to know what sorts of insurance products they offer. The company is jointly owned by a very large insurance company in Co-operators, which has definitely helped its product selection. Here is a list of some of the many insurance options that Cumis General Insurance Company currently has available:

Home:

  • Identity theft
  • Water coverage
  • Home based business
  • Liability
  • Personal items

Auto:

  • Stolen or damaged vehicle
  • Medical care
  • Legal costs
  • Property damage
  • Lost wages
  • Rehabilitation

Loan:

  • Mortgage
  • Business
  • Small loan
  • Agriculture
  • Credit insurance

Other Plans:

  • Travel Insurance
  • Credit Union Insurance
  • Retirement savings plan
  • Plans for employees

Cumis General Insurance Car Insurance Review

If you want to make sure that you are going with a reliable insurance company, you may want to learn how much business they do. The more business a company does, the more likely it is that they are easily accessible and have reasonably priced insurance plans. If you want to get insurance through Cumis General Insurance, you should know that in 2015 the company had a total written auto premium of $46,874,000. This is a pretty large sum of money for an insurance company to make as the number stands for all of the premiums that the company collected in the country before claims were deducted and profits were taken. Looking at this number, you should be able to feel fairly comfortable knowing that Cumis General Insurance should be able to pay out any claims made by its clients with this much money collected in auto premiums alone.

Cumis General Insurance Car Insurance Products:

Record Protector:

If you have had a clean driving record for some time, you might qualify for this insurance package. The coverage is definitely ideal if you want some peace of mind when driving around. If you tend to speed sometimes or are worried about an accident, you can be protected by this policy. With this policy equipped to your premium, you won’t pay more money in the event of an at-fault accident or a minor infraction to your driving record. A great policy that can definitely save you some money if you qualify to get it.

Discounts:

Cumis has a ton of different things that qualify clients to be able to get a discount on their insurance. Insurance is expensive so having so many ways to qualify for discounts definitely helps Cumis be able to stand out amongst competitors. Cumis offers discounts for drivers who are claims free, who have insured more than one vehicle, who have been insured for three years or more, are students, are of a mature age, for people who retired and for people who bundle both house and automotive insurance with them.

 Packages:

If you want to pay a little bit of extra money each month for insurance in order to have extra coverage that could come in handy, you might want to consider adding one of their packages. The main package includes coverage for loss in transportation, damages that were done to vehicles that you don’t own, roadside assistance and a waiver of depreciation for your vehicle. The waiver replaces your vehicle, if it’s less than 24 months old, with a brand new one in the event it is written off or stolen from you. The 2nd package that they offer removes the limited waiver of depreciation from the package allowing even used car owners to get the extra coverage they desire.

Payment:

One thing that really makes Cumis stand out from other insurance companies are its flexible payment options. Most insurance companies will withdraw your monthly premium on the same day every month without giving their clients other payment options. For some people, this method of payment can be difficult. Cumis General Insurance offers their clients the ability to be able to pay for their premiums by mail, credit card or by pre-authorized payments. The company also allows you to make your payments on a weekly, bi-weekly, monthly, semi-monthly or on an annual payment schedule. Money is tighter for some people more than others so it is definitely nice to be able to choose your own payment schedule so you can find something that works for you and your budget.

Cumis General Insurance Total Sales/ ranking by province:

One thing that might impact your decision on where you want to get insurance is how popular the company is in your area. It is a good idea to check to see how popular a company is in your area before looking at policies as it can help to give you an idea how easy it is to get coverage in your area by a particular company. To help you decide if Cumis General Insurance is a company you want to work with, here is a table we made containing the total direct written premium’s made by Cumis in each of Canada’s provinces. We also ranked Cumis for each province in comparison to the top 30 insurance companies so that you can see how well they do throughout Canada. Here is the table:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland156,00018
Prince Edward Island531,00020
Nova Scotia839,00022
New Brunswick1,620,00019
QuebecN/AN/A
Ontario40,115,00024
Manitoba14,00013
Saskatchewan17,00025
Alberta3,562,000N/A
British Columbia2,00029
Yukon Territory3,00022
Northwest Territories13,00022
Nunavut2,00020

Resources:

https://www.cumis.com/en/products-services/Pages/default.aspx

https://www.cumis.com/en/about-cumis/Pages/company-profile.aspx

https://www.cumis.com/en/products-services/home-auto-insurance/Pages/auto-insurance.aspx