Echelon Insurance Car Insurance Review

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Echelon Insurance Company Overview

company

If you are looking to get an insurance broker to get insurance for yourself or commercial business, you could definitely consider going with Echelon Insurance Company. The company operates in Canada as well as Europe. Echelon specializes in high-risk automotive insurance and non-standard insurance coverage. Although Echelon may have some odd insurance packages to attract this customer base, they do have plenty of insurance options for the average consumer as well. Echelon does pretty well in Canada in terms of business with a ranking of  66th amongst other insurance companies for profit raking in a total profit of $2,163,000 in 2015.

Products Offered by Echelon Insurance

insurance

If you haven’t heard of Echelon before, it is likely because they are not considered to be that large of an insurance company. When choosing a company it is extremely important to make sure that they have the products and coverage that you need. To help you be able to determine if Echelon has what you are looking for, here is a list of some of the many things that the company covers:

Commercial:

  • Property
  • Auto
  • Wholesale
  • Contractors
  • Electronic data
  • Natural disasters
  • Interruptions in business
  • Liability
  • Crime
  • Equipment

Automotive:

  • Insurance for people with frequent claims, driving infractions, impaired driving record, license suspensions
  • Seasonal vehicles
  • Trailers
  • Motor homes
  • Collectors vehicles
  • Snowmobile
  • Condo
  • Home
  • Tenant
  • Bikes
  • Motorcycles

Home:

  • Property damage
  • Damage to personal items
  • Theft
  • Natural disaster
  • Liability

Echelon Insurance Car Insurance Review

Just looking at the products that an insurance company offers is not a good way to choose an insurance company. You should also have a look into the company to see how they operate their business and to see if they are running a sustainable company. You do not want to get insurance with a company that will not pay you for claims that you make due to them declaring bankruptcy. It is for this reason, you should learn what total written auto premium is. This number means the total amount of money collected in auto premiums by the company over a year. Echelon collected $128,535,000 over 2015 in total written auto premiums. This is definitely a pretty large sum of money and looking at the profit they earned as well as the written premiums they collected, you can probably feel pretty safe getting insurance from this company.

Echelon Insurance Car Insurance Products:

Broker:

One nice thing about getting insurance through Echelon is that they are an insurance broker. This means that you will be able to visit one of their locations and actually be able to discuss with someone about your insurance in person. There are definitely large benefits to this as then your broker will definitely be able to understand your wants and needs and be able to better accommodate them. They have a “find a broker” map directly on their website to assist you in finding a close by location to suit your insurance needs.

Storage Coverage:

If you have a vehicle that you want to store rather than actually drive, you may want to find a company that offers coverage for it. Echelon has storage insurance that ranges from 1-12 months and allows you to be able to have coverage for up to four storage units under a single insurance policy. Although the coverage does not extend to businesses, this could be an ideal solution for someone wanting coverage on their car through the winter months or while it is not in use.

Collector Vehicles:

One thing that Echelon strives to do for its customers is to provide fair insurance based on real statistics and dollar amounts that make sense for client’s vehicles. It is for this reason that Echelon has a huge number of collector vehicle appraisers on its website to allow people to be able to find out the true value of their vehicle so that they can get proper insurance coverage on it. They make it easy for car collectors to find the nearest appraiser to help out their client base and potentially bring in some more business for them. Based on these appraisals, they also offer coverage for spare parts and things like liability and accident benefits. Best of all their agreed value coverage makes sure that you know how much money you will get in the event of a bad crash resulting in your car being in un-repairable condition.

Discounts:

Like most insurance companies, Echelon does offer discounts for drivers who have maintained good driving records. Due to the higher risk of most of Echelon’s client’s, you will find that discounts are not quite as abundant, but there are definitely some ways to save money. Things like training courses, different deductibles and using different payment options are some great ways you can have more money in your wallet at the end of the day by choosing this insurance company.

Claims:

One problem with some insurance companies when it comes to making claims is that they are not available on a 24-hour basis. Another problem that you will find sometimes is that all people call the same phone number regardless of the problem they are having or the questions that they want to ask. Echelon has a 24/7 emergency claims number that you can call and they also have a number of different phone numbers available to call depending on your location in Canada, which is ideal.

Echelon Insurance Total Sales/ Ranking by Province:

ranking

If you have gotten this far and think you might be interested in going with Echelon insurance, you may be interested in looking at their direct written premiums by province. This breakdown of premiums can help you to be able to get a better understanding of how successful this company is in your area. A successful company is more likely to have good insurance plans and good accessibility to broker locations. Here is a breakdown of the total direct written premiums by province and how Echelon ranked when they were compared to the top 30 insurance companies in each province in Canada:

Province:Direct Written Premiums 2015Ranking on Top 30
NewfoundlandN/AN/A
Prince Edward Island830,00014
Nova Scotia14,495,00012
New Brunswick615,00024
Quebec12,631,00018
Ontario86,250,00021
ManitobaN/AN/A
SaskatchewanN/AN/A
Alberta10,912,00022
British Columbia2,756,0008
Yukon Territory14,00024
Northwest Territories22,00027
Nunavut10,00024

Resources:

https://echeloninsurance.ca/consumers/personal-insurance-products/motorcycles-trail-bikes/

https://echeloninsurance.ca/about-us/company-profile/

https://echeloninsurance.ca/consumers/personal-insurance-products/collector-vehicles-appraisals/

https://echeloninsurance.ca/consumers/personal-insurance-products/automobile/