The Co-operators Car Insurance Quotes Review

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The Co-operators Car Insurance
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A leading provider of home, auto, commercial and farm insurance services and products, The Co-operators General Insurance has very strong roots in Canada. The beginning was very humble with a group of prairie farmers who envisioned the Co-operators in 1945. Today this financial and insurance company has $39.9 billion worth of assets. There is a huge network of 2673 insurance agents spread out all over Canada.

The 3 main business core areas are life insurance, property and casualty and institutional investments. The Co-operators provides auto insurance to 1.2 million vehicles. They also offer many services to almost 300 credit unions and their 5.5 million consumers. The member companies include The Cumis Group Ltd, The Sovereign General Insurance Company Ltd, and Coseco Insurance Company.

The Co-operators Car Insurance Market Share Review

The Co-operators General Insurance Market ShareQuarterYear
4.44%Q32016
4.16%Q42015
4.16%Q32015
4.16%Q22015
3.94%Q42014
7.78%Q12014
4.97%Q32013
4.12%Q12013
4.12%Q32012
4.12%Q22012
4.70%Q12012
4.35%Q32011
4.49%Q12011
4.49%Q22010
9.04%Q12010

 

2010-2011 Market Share Review

The Co-operators did not have any rate filings in the 3rd and 4th quarters of 2010. The market share was 9.04% in the 1st quarter of 2010. This decreased to 4.49% in the 2nd quarter of 2010. They did not file for rate changes in the 2nd and 4th quarters of 2011. The market share was stable at 4.49% in the 1st quarter of 2011. This dropped to 4.35% in the 3rd quarter of 2011.

2012-2013 Market Share Review

There were no rate filings in the 4th quarter of 2012. The Co-operators market share was 4.70% in the 1st quarter of 2012. This dropped to 4.12% in the 2nd quarter of 2012. The market share was stable at 4.12% in the 3rd quarter of 2012. They did not have rate filings for the 2nd and 4th quarters of 2013. The market share stayed at 4.12% in the 1st quarter of 2013. This marginally increased to 4.97% in the 3rd quarter of 2013.

2014-2016 Market Share Review

They did not file for rate changes in the 2nd and 3rd quarters of 2014. The market share increased to 7.78% in the 1st quarter of 2014. In the 4th quarter of 2014 the market share decreased to 3.94%. There were no rate filings in the 1st quarter of 2015. The market share stayed stable at 4.16% in the 2nd, 3rd and 4th quarters of 2015. There were no rate filings for the 1st and 2nd quarters of 2016. The market share was 4.44% in the 3rd quarter of 2016. There are no updates for the market share data in the last quarter of 2016.

The Co-operators Car Insurance Rate Changes Review

QuarterYearThe Co-operators General Insurance Rate Change Approved %
Q320160.00%
Q42015-4.97%
Q320153.45%
Q22015-1.19%
Q42014-0.10%
Q12014-5.98%
Q32013-2.84%
Q12013-0.23%
Q32012-2.94%
Q22012-0.92%
Q12012-6.40%
Q32011-0.15%
Q120115.51%
Q22010-0.04%
Q120102.49%

 

2010 – 2011 Rate Change Review

The Co-operators did not file for any rate change approvals with the FSCO in the 3rd and 4th quarters of 2010. The rate changes approved increased by 2.49% in the 1st quarter of 2010. The rate change approvals marginally decreased by 0.04% in the 2nd quarter of 2010. There were no rate changes filed on the 2nd and 4th quarters of 2011. The rate changes approved increased by 5.51% in the 1st quarter of 2011. There was a marginal decrease in the rate changes approved in the 3rd quarter of 2011 by 0.15%.

2012 – 2013 Rate Change Review

They did not file for any rate changes in the 4th quarter of 2012. There was a decrease in the rate changes approved for the 1st quarter of 2012 by 6.40%. The rate changes approved marginally decreased by 0.92% in the 2nd quarter of 2012. This further declined by 2.94% in the 3rd quarter of 2012. The Co-operators did not file for any rate changes with the FSCO in the 2nd and 4th quarters of 2013. The rate change approved by FSCO marginally decreased by 0.23% in the 1st quarter of 2013. There was a decrease of 2.84% in the rate changes approved in the 3rd quarter of 2013.

2014 – 2016 Rate Change Review

They did not file for any rate changes approval in the 2nd and 3rd quarters of 2014. The rate changes approved decreased by 5.98% in the 1st quarter of 2014. There was a marginal decreased of 0.10% in the 4th quarter of 2014. In that quarter about 16 insurers filed for rate changes approval with the FSCO. They represented 46.81% of the insurance market. There were no filings for rate change approvals in the 1st quarter of 2015. The rate changes approved marginally decreased by 1.19% in the 2nd quarter of 2015. That quarter saw around 26 insurance companies filing for a rate change approval with FSCO. They were representing around 52.75% of the industry.

There was an increase in the rate change approved by FSCO in the 3rd quarter of 2015 by 3.45%. About 40 insurers filed for rate change approvals in that quarter. They represented 77.45% of the market. The last quarter of 2015 saw a decrease in the rate changes approved by 4.97%. The Co-operators did not file for any rate changes in the 1st and 2nd quarters of 2016. The 3rd quarter of 2016 did not have any rate changes approved and there is no data for the last quarter of the year yet.

The Co-operators Car Insurance Quotes Review For the Same Car and Driver Profile Across Selected Cities

CityThe Co-operators Car Insurance Quotes*
Toronto$2,260
Mississauga$3,040
Hamilton$2,390
London$1,920
Markham$2,940
Vaughan$3,740
Windsor$1,770
Sudbury$1,450
Burlington$1,920
Oshawa$1,980
Guelph$1,570
Barrie$1,660
Brampton$3,460
Ottawa$2,110

 

The Co-operators Auto Insurance Discounts

You may get a discount of 5% when you sign up for the en-route Auto program. Further, you may get up to 25% savings based on your driving habits that a telematics device will monitor. The telematics device will monitor your mileage, braking, acceleration and frequency and timing of your usage. The Co-operators offers many other discounts based on your individual factors.

Optional Coverage You May Consider Buying With The Co-operators

Family protection

The Co-operators offers optional coverage to add more protection on your auto policy.

  • Collision: You can claim for damages caused by a collision. Example: fire, flood.
  • Comprehensive: Use this to claim for damages caused other than by collision. Example: theft, vandalism.
  • Specified Perils: This cover will help to claim for damages caused due to particular perils mentioned on the policy. Examples include theft, fire, and lightning.
  • All Perils: You may combine collision and comprehensive to get this coverage and is very popular. Example: theft, flood, fire.

For added protection, you may also add the following special endorsements:

  • Accident forgiveness endorsement: You will get forgiveness for your 1st at-fault accident if it occurred after 6 years of no claims.
  • Loss of use endorsement: You may claim for replacement expenses of a temporary car. You can claim for the expenses when your car is stolen or damaged. The coverage extends to the maximum limit mentioned on your auto policy till your car is repaired, recovered or replaced.
  • Legal liability for damage endorsement: This endorsement will help you to claim for damages to a car that you do not own. Example: rental car.
  • Family protection endorsement: If your car is damaged due to the fault of an underinsured driver then you may claim under this endorsement.
  • Limited waiver of depreciation endorsement: You will be covered for any loss due to lost value or depreciation of the value of your brand new car over time. You may claim during the first 24 months of the new car ownership or lease. So, in the event of a claim, you may be paid the full value as per the manufacturer’s listed price. In order to add this endorsement, it is a requirement to have collision and comprehensive coverage on your policy. There is also the option of having the All Perils coverage too.
  • Additional coverage endorsement: Adding this will cover any specified valuable component fitted in your vehicle against damages or theft. Example: stereo.

The Co-operators Car Insurance Cancellation Policy

You may get in touch with The Co-operators to request a cancellation of your policy. They will calculate your refund based on the terms and conditions of your auto policy. The number to call them with the cancellation request is 1800-265-2662.

Making The Co-operators Car Insurance Claim

You may file your car insurance claim online. It is a good idea to have your policy details and information about your loss handy. There is also an option to call the claims department 24 hours and 7 days of the week. The number to call and submit your claim is 1877-682-5246.

How Can I Get The Co-operators Car Insurance Quote

  • Phone: To get a quote you may call on 1877-545-2667.
  • Online: You may also fill out a quote request using an online quote form. After you fill the form there is an option to call them or let them contact you with your quote. You may also request for an email with your quote estimate.
  • Agent: The agent locator tool on the website is useful to get the details of your local agent who can help you with a quote.

Contact Methods For The Co-operators Insurance

Call: You can contact the Co-operators by calling 1800-265-2662.

Fax: The fax number to send any documents is 1519-823-9944.

Mail: The mailing address to reach the Co-operators is 130 Macdonell Street, Guelph, ON N1H 6P8.

Agents: Locate your nearest agent to get a quote or make changes to your policy.

Online Account: You can create an online login to get access to your account. This will let you use the following features:

  • Check policy status and updates.
  • Get information about financial advisors or agents.
  • View and obtain policy documents.
  • Pay or file claims, view your transaction history.

*Methodology

We surveyed The Co-operators car insurance Quotes in select Canadian cities for the purpose of illustrating the average quotes for a male driver aged 35 years in city downtown with owned Honda Civic 2012 model car.

Please note that car insurance prices depend on many factors including your age, location, driving history and more. So, to get a customized quote, please visit The Co-operators car insurance quotation page.


Disclaimer

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


References:

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

http://www.cooperators.ca/en/PublicPages/ContactUs.aspx

https://www.cooperators.ca/en/Insurance/auto.aspx


 

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