Wawanesa Mutual Insurance Car Insurance Review

  • wawanesa insurance

Wawanesa Mutual Insurance Company Overview

Wawanesa Mutual Insurance was a company that was initially established by farmers in 1896. The company became incorporated on May 1st, 1929 and is located in both the U.S. and Canada. The insurance company has its executive offices in Winnipeg, Manitoba and has regional offices spread out throughout Canada and the United States. The company was actually founded in Wawanesa, Manitoba, Canada, which is how it got its name. The company may not be one of the top insurance companies in terms of profits with just a $31,471,000 profit in 2015. However, the company was respectively ranked 21st in the country in terms of profits, which is no small feat. Profit also isn’t everything, as this company does rank very high in some provinces in terms of the amount of money that they gather in insurance premiums.

Products Offered by Wawanesa Mutual Insurance:

Although Wawanesa may not be the largest insurance company in Canada in terms of profitability, this may be due to the wide spectrum of insurance products that they offer and their competitive rates. The company has insurance policies for all sorts of lifestyles in order to appeal to as many people as possible. Getting the right insurance coverage is extremely important as a small accident may not seem like they cost a whole lot of money, but it definitely can if someone gets injured or if the damage is severe or done on something expensive. Here is a list of the products that Wawanesa currently offers:

Auto Insurance:

Home Insurance:

  • Tenants
  • Boats and water craft
  • Household content
  • Seasonal home
  • Home
  • Liability
  • Detached buildings
  • Identity theft/ fraud
  • Environmental protection eg: earthquake, tornado hurricane etc.
  • Condominiums

Farm Insurance:

  • Barns, buildings, and other structures
  • Contents
  • Liability
  • Equipment
  • Feed, grain, produce
  • Livestock
  • Milk contamination
  • Rental damage
  • Environmental damage
  • Boarding and training of horses

Business Insurance:

  • Loss of income
  • Realty
  • Retail/ product
  • Cyber insurance
  • Liability

Wawanesa Mutual Insurance Car Insurance Review

If you are still unsure about Wawanesa Mutual Insurance and you want to make sure that you get the best possible insurer, you may be interested to learn about their total written auto premium. This number is the amount of money that the company collected through all of their insurance premiums. Although this number is not a profit, it does give you a good idea as to how popular the company is and how they are doing all together. The total written auto premium for Wawanesa Mutual Insurance Inc. 2015 was $1,120,037,000. As you can probably tell, this is definitely an established insurance company in the industry that has a lot of different products to suit the needs of their customers. To help you decide if you want to go with Wawanesa, here are some car insurance products they offer:

Car Insurance Products:

Legal Liability:

If you don’t own a vehicle and damage happens to be done upon it while you are driving, Wawanesa has an optional coverage plan that has your back. With this plan, any damages done on a vehicle that you don’t own will be covered as the plan insures the civil liability for the damages.

Hit and Run:

One thing that you can’t predict as a driver that does happen sometimes is a hit and run. Hit and run damage can be substantial and in the event of a hit and run, some insurance companies won’t cover you depending on the policy. Wawanesa offers an optional deductible waiver that will reduce your deductible up to $500 per hit and run. If you don’t have the money to pay a deductible on your vehicle, you may want to consider grabbing this optional coverage.

Expense coverage:

When you get into an accident and make a claim on your vehicle, you do lose driving it for a while and may miss out on things like work or other opportunities. In the event this occurs, you would be lucky to have the optional expenses coverage. This will give you up to $2500 in expense coverage resulting from the loss of a motor vehicle. Not being able to drive can certainly cost you a lot of money depending on the opportunities that you miss. Depending on your lifestyle, you may definitely want to consider this coverage option.

Vehicle replacement:

If you own a new car, you may want to consider grabbing this optional coverage. The cost of a new vehicle is quite steep and all it takes is one accident to reduce the value of that vehicle to zero. Repairs on a huge crash can be extremely costly for an insurance company, especially for a new vehicle. Luckily, you can pick up vehicle replacement cost insurance from Wawanesa, which covers you in the case of a large crash resulting in your new vehicle becoming unusable. This coverage will ensure that Wawanesa will get you a new vehicle in the case of a serious accident. Definitely a good way to keep your investment safe.

Total Sales/ ranking by province:

One great way to determine if you should look into an insurance company is to look to see how popular the company is in your area. This is generally a good way as it can give you an idea as to who has the best coverage plans and most reasonable prices with readily available employees or agents available to help you. People don’t go with bad insurance companies so looking at these statistics is a great way to see what is good in the market. To help you decide if Wawanesa Mutual Insurance is a company that you want to go with, here is a table of Canada’s provinces and the direct written premium’s that they received in each province in 2015 as well as the ranking in that province compared to other insurance companies:

Province:Direct Written Premiums 2015Ranking on Top 30
NewfoundlandN/AN/A
Prince Edward Island9,122,0004
Nova Scotia47,585,0005
New Brunswick73,349,0001
Quebec40,598,00013
Ontario405,042,00011
ManitobaN/AN/A
SaskatchewanN/AN/A
Alberta539,563,0002
British ColumbiaN/AN/A
Yukon Territory4,367,0002
Northwest Territories324,00012
Nunavut87,00013

Resources:

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

https://www.wawanesa.com/assurance/produits/assurance-automobile.html

https://www.wawanesa.com/canada/index.html