Guarantee Company of North America Car Insurance Review

  • Guarantee Company of North America

Guarantee Company of North America Insurance Company Overview

company

If you are looking for insurance and are interested in going with one of the most established companies in the industry, you should look at the Guarantee Company of North America. Founded back in 1872, the company was the very first to offer fidelity bonds. The company is the largest and oldest independent insurance company in all of Canada. This is a company that specializes in providing insurance for people who have a lot of money and a lot of assets. The company provides all sorts of different kinds of insurance coverage to suit the needs of their very broad client base across Canada. To give you an idea of how this company is doing in terms of business, they ranked 29th in Canada in terms of profits in 2015 with a total profit of $20,680,000

Products Offered by Guarantee Company of North America Insurance

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One huge benefit of an older company like Guarantee Company of North America is that they have been around for such a long time that they have had ample time to realize what brings in new customers. The company has a very broad spectrum of product options available to suit client all kinds of different backgrounds. This is one of the main reasons why this company has been such a success in the insurance industry. Here are some of the many products that they currently have to offer:

Trucking/ Transportation:

  • Liability
  • Property insurance
  • Garage automobile insurance
  • Breakdown insurance
  • Criminal insurance

Automobile:

Home Insurance:

  • Property coverage
  • By-law coverage (for remodels and building)
  • Living expenses coverage
  • Liability
  • Complimentary appraisals
  • Flexible claims for cash or replacement
  • Renting/ leasing
  • Condo or seasonal home
  • Valuables

Guarantee Company of North America Car Insurance Review

In order to determine if you feel comfortable with getting insurance through Guarantee Company, you may be interested in learning how much business they did in all of Canada. Altogether, the company made a total written auto premium of $104,034,000. This is the total amount of money that Guarantee Company of North America Insurance made before any claims were deducted from premiums gathered. This high number just goes to show how large of an impact this company has had on the industry over the years and how much business they have generated as a result. You should feel pretty safe getting insurance through Guarantee Company of North America as they have been around since 1872 and are the largest and oldest insurance company in the entire country of Canada.

Guarantee Company of North America Car Insurance Products:

Agreed Value:

Rather than being in the dark about how much your automobile your insurance company thinks your automobile is worth, Guarantee Company will settle and let you know the value of your vehicle right off of the start. In the event your car is stolen or destroyed, the company actually offers full compensation without a deductible, which is extremely nice for customers who are obviously in distress as a result of this happening to them.

Discount:

If you have a history of safe driving, rather than having to apply for small discounts on a regular basis the company actually will put the discount on your premium themselves. This is a great policy that helps make the Guarantee Company of North America stand out amongst its competitors. Rewards are given for safe driving over time, bundles and customer loyalty.

Claims Handling:

Since Guarantee Company of North America deals with a lot of people who have a high net worth, the company makes sure they are accessible at all times. Time is money in the business world, which is why the company allows you to be able to make a claim 24/7. The company guarantees that a claim adjuster will contact you within two hours of a claim notification, which is extremely fast.

Parts:

Since the Guarantee Company of North America deals with high-end clients, they realize that their client’s vehicles require the best possible treatment. If your car is in need of repair through a claim, you can have peace of mind knowing that OEM parts will be used in the repairs. Although this may not always be possible when you are having your vehicle repaired, it is nice to know that the insurance company is willing to pay the extra money for the premium quality that you deserve.

Body Shop Options:

Many insurance companies only work with particular body shops to have work done. A great thing about Guarantee Company is that they are flexible on this end of things. The company allows you to be able to choose your own body shop or you can ask for their assistance in showing you where one of their trusted body shops are located to get the work done for you as soon as possible. Guarantee Company knows that their high-end clients don’t have time to search around for a body shop, which is why the company has trusted partners across the country that they are more than happy to point towards for you.

Guarantee Company of North America Total Sales/ Ranking by Province:

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If you have liked the looks of the Guarantee Company of North America so far and are interested in learning more, you may want to look to see how they do in terms of business. Different places in Canada are certainly more popular with certain insurance companies as a result of certain plans being available in certain places and there being not as many locations and access points available in some areas. To help you decide if Guarantee Company of North America is convenient in your area, we have created a table for you. The table shows a breakdown of Guarantee Company of North America’s business by Province and how they ranked among the top 30 insurance companies in each province. Here are the results we found using 2015 statistics gathered:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland64,00020
Prince Edward Island146,00019
Nova Scotia1,661,00019
New Brunswick954,00023
Quebec4,819,00023
Ontario92,464,00017
Manitoba3,00028
Saskatchewan1,00030
Alberta3,836,00027
British Columbia8,00028
Yukon Territory25,00020
Northwest Territories37,00021
Nunavut16,00020

Resources:

https://en.wikipedia.org/wiki/List_of_Canadian_insurance_companies

https://www.theguarantee.com/

https://www.theguarantee.com/gold/site/uploads/documents/34806_-_GOLD_Auto_Sell_Sheet_(Dec_16)_ON_-_WEB.pdf