The Commonwell Car Insurance Rates Review

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Commonwell Car Insurance
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Three organizations merged together in 2014 to form the Commonwell Mutual Insurance. These were the Glengarry Mutual Insurance Company, Farmers’ Mutual Insurance Company (Lindsay) and Lanark Mutual Insurance Company. The process of amalgamation merged these 3 mutual insurance companies to form The Commonwell. The locations for these 3 companies are now the regional offices of Commonwell. They offer commercial and personal insurance services and products in Greater Ontario.

Like other mutual insurance companies that operate in Ontario, a group of farmers formed an insurance company to protect their farm and property. Later on, the company grew leaps and bounds and more insurance products such as auto, commercial, watercraft etc. were added. The Commonwell is also a member of the Ontario Mutuals which is a mutual insurance network of 40 companies. The company is local and independently governed as a not for profit organization. Commonwell also supports many charity causes mainly focused on health care efforts, children, and safety. Their C.A.R.E. Create A Ripple Effect program has so far donated funds to many needy organizations.

Commonwell Mutual Car Insurance Market Share Review

Commonwell Mutual Insurance Group Market ShareQuarterYear
0.39%Q12016
0.78%Q32015
0.35%Q12015
0.35%Q32014
0.35%Q42013
0.35%Q32013
0.32%Q22012
0.31%Q22011
0.28%Q22010

2010-2011 Market Share Review

The Commonwell did not have any rate filings in the 1st, 3rd and 4th quarters of 2010. The market share was 0.28% in the 2nd quarter of 2010. They did not file for rate changes in the 1st, 3rd and 4th quarters of 2011. There was a marginal increase in the market share of 0.31% in the 2nd quarter of 2011.

2012-2014 Market Share Review

The market share stayed almost stable at 0.32% in the 2nd quarter of 2012. This increased to 0.35% in the 3rd quarter 2013. The market share was stable at 0.35% in the 4th quarter of 2013. They did not file for rate changes in the 1st and 2nd quarters of 2013. In the 3rd quarter of 2014, the market share was still stable at 0.35%.  There was no rate filing approved in the 1st, 2nd and 4th quarters of 2014.

2015-2016 Market Share Review

Commonwell did not have any rate filings approved in the 2nd and 4th quarters of 2015. The market share was stable at 0.35% in the 1st quarter of 2015. This marginally increased to 0.78% in the 3rd quarter of 2015. There were no rate change approvals in the 2nd and 3rd quarters of 2016. Their market share dropped to 0.39% in the 1st quarter of 2016 and there is no data for the last quarter.

Commonwell Mutual Car Insurance Rate Changes Review

QuarterYearCommonwell Mutual Insurance Group Rate Change Approved %
Q12016-0.60%
Q32015-1.35%
Q12015-1.00%
Q32014-4.88%
Q42013-8.83%
Q320130.00%
Q220120.00%
Q220110.00%
Q22010-2.86%

2010 – 2011 Rate Change Review

The Commonwell did not have any rate changes in the 1st, 3rd and 4th quarters of 2010. Their rate change decreased by 2.86% in the 2nd quarter of 2010. They did not have rate changes in the 1st, 3rd and 4th quarters of 2011. There was no change in rate in the 2nd quarter of 2011.

2012 – 2014 Rate Change Review

They did not file for rate changes in the 1st, 3rd and 4th quarters of 2012. There was no change in the rates approved for the 2nd quarter of 2012. Their rates did not change in the 3rd quarter of 2013. The rates decreased by 8.83% in the 4th quarter of 2013. There were no rate changes in the 1st, 2nd and 4th quarters of 2014.

2015 – 2016 Rate Change Review

Commonwell did not have any rate changes in the 2nd and 4th quarters of 2015. Their rates decreased by 1% in the 1st quarter of 2015. Around 39 insurance companies filed for rate changes in that quarter. They represented 73.48% of the insurance market. In the 3rd quarter of 2015, there was a further decrease in the rates of 1.35%. That quarter saw 40 insurance companies filing for rate changes. They were representing 77.45% of the insurance industry.

They did not file for rate changes in the 2nd and 3rd quarters of 2016. The rates decreased marginally by 0.60% in the 1st quarter of 2016 and the data for the 4th quarter is not updated yet. About 50 insurance companies filed for rate changes in the 1st quarter of 2016. They represented 83.36% of the insurance market.

Commonwell Mutual Auto Insurance Discounts

Senior discount

The Commonwell offers discounts on auto insurance policies based on many factors. These could give significant savings on your car insurance policies. Some of these discounts are listed below.

  • Winter tire discount: They started offering a 2.5% savings to drivers who fitted 4 approved winter tires from January 2016. These tires must be fitted during winter from November to April each year. It is a good idea to provide documentation to prove that your car tires are designated as winter tires. This discount is applicable only for personal passenger vehicles.
  • Senior discount: Mature drivers with a clean driving record may get a discount.
  • Retiree discount: A retired driver with a good driving record can get a discount.
  • New driver discount: New drivers who have completed a driver education program may get a discount.
  • Multivehicle discount: If you insure many vehicles with Commonwell then you may get a discount.
  • Student discount: Students who attend school away from home and drive only occasionally when on vacation may get a discount.
  • Short commute discount: In case you do not drive your car frequently. Or have a low daily mileage for short commutes only then you may get a discount.
  • Bundle discount: When you combine your car and home insurance policies with Commonwell then you may get a discount.

Optional Coverage You May Consider Buying With Commonwell Mutual

The Commonwell Mutual Insurance provides standard coverage for car insurance policies in Ontario. These include the statutory accident benefits, third party liability, DC-PD and uninsured motorist coverage. They also offer optional coverage that you may purchase for better protection in case of a damage or loss. You may also add certain special endorsements on your car insurance policy for specific perils. You can also increase your coverage limit or deductibles on your car insurance policy and this will affect your premiums.

Commonwell Mutual Car Insurance Cancellation Policy

If you wish to cancel your Commonwell car insurance policy then you may contact your agent or broker. Based on your policy term and conditions, there may be a refund issued. When you cancel your policy early, some cancellation fees may be deducted from your refund.

Making Commonwell Mutual Car Insurance Claim

You may contact your agent or broker to report a claim and they will start the process for you. It is recommended to contact them as soon as possible. You may search for your local agent using the online form. If you are not able to reach your agent or it is after business hours then you may contact the claims department. The claims team can be reached by calling 1855-436-5883. You can also call this number to get information about an existing claim or to submit a new claim.

The Commonwell Mutual Insurance has partnered with ClaimsPro, a leading claims service provider who has access to your policy information. This will help to report a claim even after business hours and improve claims experience. You do not have to wait till the next day as your call will be directed to ClaimsPro if you are calling outside business hours.

How Can I Get Commonwell Mutual Car Insurance Quote

You may contact your local agent or broker to get a quote for car insurance. The online tool will help you to locate your nearest broker. You can narrow down your search by using the options for postal code or agent name. You broker will be able to match your car insurance requirements and reasonable pricing as per your need. There is also an option to get in touch with one of the regional offices located in Alexandria, Perth or Lindsay. The contact numbers are  1-800-263-7684, 1-800-267-7908 and 1-855-436-5883 respectively.

Contact Methods For Commonwell Mutual Insurance

Broker: You may reach your nearest local broker for Commonwell by using the online tool.

Regional Offices: There are 3 regional offices in Lindsay, Alexandria and Perth. The phone numbers to reach these 3 locations are mentioned below.

  • 705.324.2146 or 1855.436.5883
  • 613.525.2557 or 1800.263.7684
  • 613.267.5554  or 1800.267.7908

Fax: Lindsay regional office fax number is 705-324-3406. Perth regional office fax number is 613-267-6793 and Alexandria regional office fax number is 613-525-5162.


Disclaimer

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


References:

https://www.fsco.gov.on.ca/en/auto/rates/pages/default.aspx
https://thecommonwell.ca/report-a-claim/
https://thecommonwell.ca/products-services/automobile/


 

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