Primmum Insurance Company offers many insurance products in Canada. They offer auto, motorcycle, home, ATV, snowmobile, and recreational vehicle insurance coverage. Primmum offers its products and services only in certain provinces in Canada. They do not offer car insurance products in Manitoba, British Columbia, or Saskatchewan. Primmum directly writes and sells their home and auto policies. They also distribute an insurance product for small businesses and AXA Insurance Company underwrites those policies. Another product that Primmum distributes is a travel insurance product and Royal and Sun Alliance of Canada underwrites those policies. Sun Alliance of Canada underwrites those policies.
|Primmum Insurance Company Market Share||Quarter||Year|
Primmum Insurance did not have any rate change approvals in the 3rd quarter of 2010. Their market share was 1.46% in the 1st quarter of 2010. This increased to 1.55% in the 2nd quarter of 2010 and stayed stable in the 4th quarter of 2010. They had no rate change approvals in the 1st, 2nd, and 3rd quarters of 2011. The market share increased to 1.70% in the 4th quarter of 2011.
There were no rate change approvals in the 1st, 2nd, and 3rd quarters of 2012. The market share increased to 1.79% in the 4th quarter of 2012. Primmum Insurance did not rate change approvals in the 1st, 2nd, and 4th quarter of 2013. Their market share increased to 1.95% in the 3rd quarter of 2013.
Primmum Insurance did not have rate change approvals in the 1st, 2nd, and 4th quarters of 2014. The market share increased to 2% in the 3rd quarter of 2014 and was stable at 2% in the 1st quarter of 2015. Their market share decreased to 1.56% in the 2nd quarter of 2015 and was stable in the 3rd and 4th quarters of 2015. They did not have rate change approvals in the 1st and 2nd quarters of 2016. Their market share increased to 1.66% in the 3rd quarter of 2016.
Primmum Car Insurance Rate Changes Review
|Quarter||Year||Primmum Insurance Company Rate Change Approved %|
2010 – 2011 Rate Change Review
Primmum Insurance did not file for rate change in the 3rd quarter of 2010. There was no change to rates in the 1st quarter of 2010. The rate change approved by FSCO in the 2nd quarter of 2010 decreased by 5.55%. Their rate change approved in the 4th quarter of 2010 marginally increased by 0.06%. They did not file for rate changes in the 1st, 2nd, and 3rd quarters of 2011. In the 4th quarter of 2011, the rate changes approved by FSCO increased by 6.13%.
2012 – 2014 Rate Change Review
They did not file for rate changes with FSCO in the 1st, 2nd, and 3rd quarters of 2012. There was a decline in the rate change approved in the 4th quarter of 2012 by 5.17%. Primmum Insurance did not file for rate change in the 1st, 2nd, and 4th quarters of 2013. The rate change approved in the 3rd quarter of 2013 decreased by 0.73%. There were no rate change approvals filed in the 1st, 2nd, and 4th quarters of 2014. Their rate change approved in the 3rd quarter of 2014 declined by 4.21%. In that quarter around 9 insurance companies filed for rate change approvals. They represented 26.65% of the insurance market.
2015 – 2016 Rate Change Review
In the 1st quarter of 2015, the rate changes approved by FSCO declined by 0.48%. That quarter saw 39 insurance companies file for rate changes. They represented 73.48% of the industry. There was a marginal increase in the rate change approved by FSCO in the 2nd quarter of 2015 by 0.95%. About 26 insurance companies filed for rate change approvals in that quarter. They were representing 52.75% of the industry. The rate change approved by FSCO dropped by 1.64% in the 3rd quarter of 2015. In the same quarter, around 40 insurance companies filed for rate changes and represented 77.45% of the market. The 4th quarter of 2015 saw the rate change decline by 4.79%. In that quarter 21 insurance companies filed for rate changes and were representing 51.23% of the market.
They did not file for rate change approval in the 1st and 2nd quarters of 2016. The rate change approved in the 3rd quarter of 2016 declined by 0.44%. In that quarter 25 insurance companies filed for rate change approvals and they represented 63.56% of the market.
Primmum Auto Insurance Discounts
Primmum Insurance has many types of insurance policies with various kinds of discounts. There is no cap on the limit of discounts and is based on eligibility. They look at various factors to decide on the discount and savings for auto insurance policies.
- When you insure more than 1 vehicle with Primmum then you may get a minimum discount of at least 5%.
- If you have many products insured with Primmum then you may get a multi-product discount. As an example, if your home and car are insured with Primmum that could qualify you for a discount.
- In case you have an approved alarm system or theft deterrent device on your car then that could also get you a discount.
- There are discounts if you have a good driving record with no violations and tickets.
- If you have not claimed for a certain period of time then you may get a discount.
- You could get the Greenwheel discount if you drive an eco-friendly car.
- If you complete an approved driver education program then you may get a discount for being a safe driver.
Optional Coverage You May Consider Buying With Primmum
Primmum Insurance offers standard car insurance coverage as per law in Ontario. The mandatory car insurance coverage consists of the uninsured motorist, liability, DC-PD, and statutory accident benefits. Apart from the standard coverage Primmum also offers optional coverage for better protection in case of an accident or loss. The most popular are the Collision and Comprehensive coverage. Collision covers damage due to a collision with an object or vehicle as well as if the car rolls over. This also includes a hit-and-run accident. Comprehensive coverage is used to claim for damages not due to a collision. Examples of this include theft, fire, vandalism, etc.
If you wish to have both the above coverage then you may also opt for the All Perils coverage. Under this coverage, you may also claim if a household member steals your car. Or an employee drives away with your car while repairing it. Specified Perils coverage protects you against damage due to certain perils. Glass damage and vandalism are excluded in Specified Perils coverage. Replacement cost advantage is an optional coverage that helps to replace your brand new car in case of a total loss. Accident Forgiveness Coverage protects your good driving record. Grand Touring Advantage is an optional coverage that protects your car in Canada and the U.S. Waiver of depreciation allows you to claim for the actual value over a certain period of time for your new car. Loss of use coverage helps to claim the rental expenses in case your car is damaged.
Primmum Car Insurance Cancellation Policy
If you wish to cancel the car insurance policy then you may contact Primmum insurance directly or speak to your agent. As per the conditions of your policy, they may calculate your refund. In case you are canceling the policy at midterm then you may pay a cancellation fee. This is deducted from your refund for policy handling costs.
Making Primmum Car Insurance Claim
You may file a car insurance claim by calling 1866-725-9722. The claims department is available all days of the week anytime. There is also an option to fill up an online form.
How Can I Get Primmum Car Insurance Quote
Get a car insurance quote by calling 1800-816-9618. You may need some information handy for a personalized quote. These include name, phone number, address, gender, age, marital status, occupation, previous claims, insurance information, driving record, and vehicle profile.
Contact Methods For Primmum Insurance
Phone: You may call Primmum Insurance on 1866-466-5276. They are available on weekdays from 8 am to 8 pm and Saturdays from 9 am to 4 pm.
Email: You may send an email to Primmum is by using the online form on the website.
We are not affiliated and make no representations warranties, recommendations, or endorsements of Primmum Insurance. This article is our review of Primmum Insurance for information purposes only. The logos, trademarks, and copyrights mentioned in this article belong to Primmum Insurance.