Lloyd’s Insurance Company Car Insurance Review

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Lloyd’s Underwriters Insurance Company Overview

As a company that first began as a coffee shop, Lloyd’s Underwriters insurance company has developed a very long ways. From a coffee shop that was first established in 1688, the company has been all about creating more business opportunities.  Lloyd’s Insurance is run by syndicates who are managed by managing agencies. It is for this very reason that Lloyd’s Underwriters does business in every province in Canada. This helps to maximize their profits and increase their client base as well as their reputation. In 2015, Lloyd’s Underwriters was actually the top profit producing insurance company in Canada.  making a total profit of $465,835,000. Lloyd’s truly has a worldwide presence and to give you an idea of how much business the company actually conducts worldwide, the company collectively wrote almost €30 billion worth of gross premiums.

Products Offered by Lloyd’s Underwriters Insurance

If you’re thinking about going with Lloyd’s Underwriters insurance company and are unsure as to what sorts of products they offer, you might be surprised. This company has been around for more than 300 years, starting out as just a coffee shop. They have highly adapted their business in order to appeal to as wide of an audience as possible. These changes have allows them to increase their client base on a massive scale and has heavily increased their profits. One thing that you can be assured of if you decide to go with Lloyd’s Underwriters is that they are not short on insurance policy options. The company was the top profit producing insurance company in Canada in 2015. A title like that does not come without hard work and a massive customer base. Here are the current policies that Lloyd’s has to offer its many customers across Canada:

Business:

  • Liability insurance
  • Content insurance
  • Auto fleet coverage
  • Property insurance
  • Contract Insurance
  • Equipment coverage
  • Contractors insurance
  • Loss of business coverage

Automotive:

  • Services and repairs
  • Collision insurance
  • Comprehensive insurance
  • Liability insurance
  • Cars
  • Trailers
  • RV’S
  • ATV’S
  • Snowmobiles
  • Watercraft
  • Motorcycles

Home:

  • Property insurance
  • Liability insurance
  • Condo insurance
  • Cottage insurance
  • Seasonal home
  • Second home
  • Mobile home

Lloyd’s Insurance Company Car Insurance Review

If you’re thinking about getting insurance through Lloyd’s, you might want to consider how much business they actually conduct. One of the best ways to do this is to look at their total written auto premium. Total written auto premium essentially stands for the total amount of money that the company collected afford how to pay out any claims. In 2015, Lloyd’s Underwriters had a total written auto premium of $47,455,000. Seeming as the company also made the largest profit of all insurance companies in Canada in 2015 it is quite easy to be able to realize the amount of business that this company conducts. Lloyd’s works its magic throughout all of Canada and its presence throughout the world still seems to be growing.

Lloyd’s Insurance Company Car Insurance Products:

Discounts:

One of the best things about getting insurance through Lloyd’s is that you have a lot of discount opportunities. Since Lloyd’s isn’t technically an insurance company, it is operated by its members and its members attempt to get you to sign insurance policies through them in as many ways as possible. One of the most prevalent ways of standing out from competing insurance companies is by offering discounts on insurance premiums to get you the best possible price. If you go with Lloyd’s, you should expect to be able to get really good discounts on your insurance policy, especially if you have things like a good driving record, loyalty, a safe and reliable vehicle or want to get insurance on more than one vehicle.

Insurance options:

Lloyd’s is a group of brokers, members, agents, and professionals. If you choose to get insurance from Lloyd’s underwriters, you are going to have a lot of people to talk to. Expect high-quality customer service and a lot of people willing to talk to you about quotes. It is extremely easy to be able to meet up with someone associated with Lloyd’s. They are located all over the world and even though their headquarters are in London, UK, the company has a huge presence in Canada. With so many professionals all over the world, you will probably struggle to not be able to to find the products and services that you need through this company.

Peace of Mind:

One of the best things about getting insurance through Lloyd’s underwriters is the fact that the group has so many financial backers called syndicates. What this essentially means for you, is that you never really have to worry about not being able to make a claim on your insurance. Lloyd’s made the most profit of all the insurance companies in Canada in 2015. The resources within the organization are spread so far and wide that you should never have to worry about the company not being able to back you on a claim. Things can change, but at this time this is probably one of the safest companies to get insurance with. You definitely cannot say the same about all insurance companies, which is one reason you may want to consider Lloyd’s.

Lloyd’s Insurance Company Total Sales/ ranking by province

One of the best ways being able to decide if you want to go with an insurance company is to look to see how popular they are in your area. Lloyd’s Underwriters Insurance had substantial numbers in every single province throughout Canada. Although there is no company in Canada that dominates each and every market, Lloyd’s is definitely up among the best in the business. To help illustrate this and to show you just how much business Lloyd’s does in each area, we have rounded up the direct written premiums that the company collected in 2015 in each of Canada’s provinces. We then compared Lloyd’s to the top 30 insurance companies in each province to give you an idea of how they rank compared to others. Here are the results that we found:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland480,00012
Prince Edward Island10,00023
Nova Scotia891,00021
New Brunswick1,925,00020
Quebec9,347,00019
Ontario13,551,000N/A
Manitoba1,683,0003
Saskatchewan2,491,0006
Alberta9,656,00023
British Columbia6,958,0004
Yukon Territory161,00013
Northwest Territories284,00014
Nunavut18,00017

Resources:

https://www.lloyds.com/lloyds

https://www.lloyds.com/lloyds/about-us/history/corporate-history