Gore Mutual Car Insurance Rates Review & Ratings

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Gore Mutual Car Insurance
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Gore Mutual is the oldest insurance company in Canada. It was founded in 1839 as Gore Mutual Fire Insurance Company in Brantford, Ontario. After a century, Gore Mutual started offering car insurance in 1939. Today it is a prominent Canadian property and casualty insurer. Gore Mutual is a mutual insurance company that chose not to demutualize as per the new legislation of 2015. There is a widespread network of brokers all over Canada exclusively connected with Gore Mutual. They can use the Go Broker online tool to access policy information to assist customers.

Gore Mutual has contributed over $5 million for many social causes to more than 550 charity groups over several years. They have associated themselves with many charity foundations. This mutual insurance provider has approximately $1billion in assets and $400 million in premiums and is financially very strong. In 2016, Gore Mutual was awarded the best workplace certificate and has employed over 300 employees.

Gore Mutual Car Insurance Market Share Review

Gore Mutual Insurance Company Market ShareQuarterYear
1.57%Q12016
1.57%Q42015
1.57%Q32015
1.55%Q12015
1.56%Q12014
1.56%Q32013
1.49%Q32012
1.49%Q22012
1.32%Q22010
2.30%Q12010

 

2010-2011 Market Share Review

Gore Mutual did not have any rate filings in the 3rd and 4th quarters of 2010. The market share was 2.30% in the 1st quarter of 2010. This decreased to 1.32% in the 2nd quarter of 2010. They did not have any rate filings in 2011.

2012-2014 Market Share Review

They had no rate filings in the 1st and 4th quarters of 2012. The market share stayed stable at 1.49% in the 2nd and 3rd quarters of 2012. There were no rate filings in the 1st, 2nd and 4th quarters of 2013. The market share increased to 1.56% in the 3rd quarter of 2013. In the 1st quarter of 2014, the market share was stable at 1.56%. Gore Mutual did not file for rate changes in the 2nd, 3rd and 4th quarters of 2014.

2015-2016 Market Share Review

There were no rate filings in the 2nd quarter of 2015. The market share dropped to 1.55% in the 1st quarter of 2015. It marginally increased to 1.57% and stayed stable in the 4th and 3rd quarters of 2015. Gore Mutual did not file for rate changes in the 2nd and 3rd quarters of 2016. In the 1st quarter of 2016, the market share was consistent at 1.57%. The data for the 4th quarter of 2016 is not yet updated.

Gore Mutual Car Insurance Rate Changes Review

QuarterYearGore Mutual Insurance Company Rate Change Approved %
Q12016-4.97%
Q420157.91%
Q32015-2.59%
Q12015-0.89%
Q12014-10.24%
Q32013-1.31%
Q32012-0.06%
Q220120.00%
Q22010-3.12%
Q120106.00%

 

2010 – 2011 Rate Change Review

Gore Mutual did not file for rate changes in the 3rd and 4th quarters of 2010. The rate change approved by FSCO increased by 6% in the 1st quarter of 2010. There was a decline in the rate changes approved by 3.12% in the 2nd quarter of 2010. They did not file for any rate changes in 2011.

2012 – 2014 Rate Change Review

There was no change to rates approved in the 2nd quarter of 2012. The rate change approved in the 3rd quarter of 2012 decreased marginally by 0.06%. They did not file for any rate changes in the 1st, 2nd and 4th quarters of 2013. In the 3rd quarter of 2013, the rate changes approved decreased by 1.31%. Gore Mutual did not file for any rate changes in the 2nd, 3rd and 4th quarters of 2014. The rate changes approved for the 1st quarter of 2014 decreased by 10.24%.

2015 – 2016 Rate Change Review

They did not file for any rate changes in the 2nd quarter of 2015. The rate change approved in the 1st quarter of 2015 marginally declined by 0.89%. Around 39 insurance companies filed for rate changes in that quarter. They represented 73.48% of the insurance market. There was a further decrease of 2.59% in rates approved for the 3rd quarter of 2015. That quarter saw 40 insurance companies file for rate changes. They were representing 77.45% of the industry. In the 4th quarter of 2015, the rates increased by 7.91%. About 21 insurance companies filed for rate changes in that quarter. They represented 51.23% of the market.

There were no filings with FSCO for rate changes in the 2nd, 3rd and 4th quarters of 2016. The rate change approved by FSCO for the 1st quarter of 2016 decreased by 4.97%. The data for the last quarter of 2016 is not available.

Gore Mutual Auto Insurance Discounts

Loyalty Program

Gore Mutual offers discounts on car insurance policies based on many criteria. Another benefit is that you get the full benefit of these discounts as they are not capped. Some of them are mentioned below.

  • Loyalty discount: The customers who have been insured with Gore Mutual for more than 3 years may get a discount.
  • Winter tire discount: If you have installed approved winter tires during the winter season, then you may get a discount.
  • No conviction discount: You may get a discount if you have good driving habits and stay free of convictions on your driving record.
  • Student Savings: Students living away from home and attend school may get a discount as they drive only occasionally.
  • Multiple policy discounts: You may get a discount when you insure different products with Gore Mutual.
  • Multiple vehicle discounts: If you have insured more than one car with Gore Mutual then you may get a discount.

Optional Coverage You May Consider Buying With Gore Mutual

You may get standard coverage from Gore Mutual for liability, uninsured driver, rehabilitation and medical costs. There is additional coverage that you may purchase to get more protection. Most motorists purchase collision and comprehensive coverage to get protection in case of a damage or loss.  Some also buy additional accident benefits to offset a financial loss in case of an accident. Gore Mutual offers an optional coverage to protect your good driving record and may forgive your 1st at-fault collision. If you are not able to drive your car then you may claim for the expenses of a rental car.

Gore Mutual Car Insurance Cancellation Policy

In case you wish to cancel your car insurance policy then you may contact your agent or broker. You can also get in touch with the regional office nearest to your location. Gore Mutual will calculate your refund as per your policy conditions. If you cancel your policy before renewal then you may have to pay a cancellation fee.

Making Gore Mutual Car Insurance Claim

You can contact your nearest broker or agent to report a claim. Your car insurance policy documents will also have the contact details of your broker. The online tool Claims Connection is used by brokers to submit and manage your claims. In case you are not able to reach them, you may call the claims department 24 hours 7 days a week by calling 1800-265-8600. The email address to write to claims department is claimsreporting@goremutual.ca.

How Can I Get Gore Mutual Car Insurance Quote

To get a car insurance quote you may contact your broker or agent. You may search for the nearest broker using an online tool on the website. Gore Mutual offers business and personal insurance services and products through their brokers. These brokers exclusively work for Gore Mutual and offer many solutions. To begin your search you may choose the type of insurance you are looking for. Then you may narrow down your search to location and find a broker in your area.

Contact Methods For Gore Mutual Insurance

Gore Mutual has 2 offices in Cambridge, Ontario and Vancouver, British Columbia. You may contact these offices if you have any general queries.

Ontario office: The contact numbers of Eastern Canada and Ontario offices are 1800.265.8600 and 519.623.1910. The mailing address is PO Box 70, Cambridge, ON N1R 5T3 and the fax number is 1800.601.9773.

British Columbia office: You may reach the Western Canada office by calling 1800.663.9437 and 604.682.0998. The office is located in Vancouver, British Columbia V7X 1M6. You may fax documents to 1800.601.9773.

Email: The email address to send your billing queries is billingteam@goremutual.ca. If you need any general questions answered then you may send an email to stayingintouch@goremutual.ca.

Payments: You can make premium payments using your credit card on the website online. To view your policy information you may have to enter your policy number, account number and email address.


Disclaimer

We are not affiliated and make no representations or warranties, recommendations or endorsements of Gore Mutual Insurance. This article is our review of Gore Mutual Insurance for information purposes only.  The logos, trademarks, and copyrights mentioned in this article belong to the Gore Mutual Insurance.


References:

https://www.fsco.gov.on.ca/en/auto/rates/pages/default.aspx

https://www.goremutual.ca/claims/

https://www.goremutual.ca/personal/

https://www.goremutual.ca/broker-support/


 

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