Intact Car Insurance Review

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Intact Insurance Company Overview

If you need an Insurance company, Intact has a lot of insurance plans that you could go with. The company has been around since 1809 and they are actually one of the top insurance companies in the industry. In fact, Intact insurance is the largest provider of both property and casualty insurance in Canada. Intact has close to 8 billion dollars in annual premiums from its various insurance policies. The insurance company has over 12,000 employees and actually used to be known as ING Canada before it changed its name to Intact. Intact operates under multiple different brand names, which has helped the company lead to such a successful operation. Here are the brand names that Intact runs its operations through:

Belair Direct:

Belair Direct is a company that provides both home insurance as well as car insurance from coast to coast since 1955. The company is largely famous as a result of being the first insurance company to offer online quotes, which is one of the main ways consumers get insurance quotes today.

Intact Insurance:

Intact is the company’s largest business channel and has more than four million customers. The company is extremely well known in the insurance industry as a result of being around for so long and having such a good customer service relationship.

BrokerLink:

The last business channel Intact operates under is BrokerLink. BrokerLink is the largest property and casual insurance brokerage in Canada. BrokerLink has over a hundred offices and is supported and operated out of Ontario, Alberta and Atlantic Canada.

Products Offered by Intact Insurance:

Intact has a wide amount of insurance policies available to suit your insurance needs. There is no single insurance policy that covers everything that you own so it is very important to make sure that you get the right policy for your needs. Intact has an option on their website to request a quote, which is a great way to be able to tell how much insurance would cost you. Here is a list of different insurance policies that Intact offers to cover various things:

Consumer Insurance Policies:

  • Car Insurance
  • Boat Insurance
  • Motorcycle Insurance
  • ATV and Snowmobile Insurance
  • RV Insurance
  • Home Insurance:
  • Travel Insurance
  • Cottage Insurance
  • Condo Insurance
  • Home Insurance
  • Identity theft Insurance
  • Home based business insurance
  • Tenant Insurance
  • Rented Dwelling Insurance
  • Liability Insurance
  • Group Insurance

Business Insurance:

  • Real Estate Insurance (commercial, residential)
  • Farming Insurance
  • Contractor Insurance
  • Home Business Insurance
  • Hospitality Insurance
  • Manufacturing Insurance
  • Marine Insurance
  • Retail Insurance
  • Service and Professional Insurance
  • Warehousing Insurance
  • Transportation Insurance
  • Wholesaler’s Insurance

Intact Insurance Car Insurance Review:

A good way to tell if you are getting a premium insurance company is to look at the total written auto premium. This number is essentially the total dollar amount of premiums collected by an insurance company over a given period of time. As time passes and the policy end date for the insurance is reached, this dollar amount is then changed from the status of an unearned premium to the status of an earned premium and it is recognized as profit.

The total written auto premium for Intact Financial Corporation was actually number one in Canada as they had a total dollar figure of $4,251,484,000. From looking at this figure, you can see that there is no way Intact is going to be bankrupt anytime soon. The company has more than enough money to be able to pay for the few claims processed every year, which is definitely something you might want to consider while searching for an insurance company.

Car Insurance Products:

Driver Discount:

One very cool thing about Intact insurance is that you can sign up for their driving discount program. They have a program available that allows you to download an app, which judges you’re driving. If you are deemed to be driving in a safe location and at a safe speed, you can receive up to a 25 percent discount on your insurance.

Minor Conviction Protection:

If you have ever worried about getting a minor driving conviction, you may like what this policy has to offer. If you have been licensed for six years or more, are with Intact and have been conviction free for the past three years, you qualify for this offer. This policy is essentially a minor conviction protection program that you can opt into. The Minor Conviction Protection policy will cost you less than $5 per month in order to receive the protection. With this add on package, if you happen to get a minor driving conviction, your premium will not change.

Uber Insurance:

With the rise of ride sharing programs, Intact Insurance has decided to offer coverage plans that cover both Uber drivers and Uber passengers insurance. As a result of these coverage plans, Uber drivers can have commercial insurance on their vehicle that is completely separate from their personal insurance policy.

30 Minute Claim Guarantee:

If you hate being on the phone with your insurance company, you may like working with Intact. This is one of the only companies that offers a time-based claim guarantee. Intact has this policy in place because there are so many different insurance companies that will keep you on the phone for hours before filing a claim. You will never have to worry about wasting your time if you are with Intact Insurance. Intact has a policy that if you ever need to make a claim for anything, the company has a 30-minute window to file that claim. If the claim has not been started, the company will write you a cheque for the full amount of your annual premium up to a maximum of a $1000.

Total Sales/ Ranking by Province:

One thing that might help you be able to decide if Intact is the right insurance provider for you is by seeing how popular they are in your Province. Hence, here are the 2015 statistics that show you how many direct written premiums they had and how they ranked compared to other insurance companies in various Canadian Provinces:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland121,035,0001
Prince Edward Island4,326,006
Nova Scotia91,363,0001
New Brunswick48,531,0003
Quebec939,056,001
Ontario2,093,956,0001
Manitoba271,00011
Saskatchewan1,522,0007
Alberta895,192,0001
British Columbia47,336,0002
Yukon Territory2,338,0006
Northwest Territories5,549,0002
Nunavut1,009,0002

Resources:

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

http://www.canadianunderwriter.ca/wp-content/uploads/2016/07/CU-DE-20160730-Statistical-Issue.pdf

www.Intact.ca