The Guarantee Company of North America Review

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Founded in 1872, the Guarantee Company of North America started as a provider of fidelity bonds to employees of

railway companies and banks in Canada. This later expanded into Known also as GCNA, it’s now the largest supplier of contract surety and fidelity bonds in Canada. Edward Rawlings and Sir Alexander Galt obtained a charter, along with a group of clients and began business in Montreal. GCNA is the largest insurance provider to government and government organizations in Canada.  In 1890, the company expanded into the United States and is licensed today in all 50 states.

Fidelity Insurance

The GCNA serves a particular niche in the insurance market today, as a fidelity and surety insurance provider. Fidelity insurance is a specialized type of policy that protects an organization from theft of particular assets by an employee. It ensures that a company is not left vulnerable to the misdeeds of a staff member who may be responsible for the control of large amounts of company money.

The GCNA follows conservative underwriting practices and plans on slow but steady growth. This has established its reputation as a provider of speciality insurance and reinsurance products.

The Guarantee Company of North America Products

maintenance cost

Despite this specialization in fidelity and surety insurance products, The Guarantee, as it’s known in personal insurance terms, also provides two levels of specialty personal insurance to cover the Property and Casualty insurance market.

Guarantee Superior personal insurance provides home and auto coverage with some difficult to find insurance provisions. Motor vehicle protection is available for recreational vehicles and pleasure boats. Auto insurance policies can be obtained for antique and classic cars, and policies with no minimum deductible can be purchased.

Guarantee Gold products are aimed at customers with high net worth. Homeowners, tenants and condo insurance is available, as is auto and pleasure craft coverage. Personal valuables can be protected and you can buy personal legal insurance as well. You can even insure your wine collection, if you’re so inclined, through GCNA’s Guarantee Gold suite of insurance products.

Looking at Guarantee Gold car insurance protection for Ontario (not all of GCNA’s products are available in all provinces), we can find endorsements that suit high-end clients and their vehicles. Features include:

  • No vehicle depreciation – your car’s value is honoured in the event of covered damage or theft at its original price.
  • Agreed value – a similar feature using a value agreed upon at the start of the policy.
  • OEM replacement parts – repairs are made with original equipment parts whenever possible.
  • Discounts applied automatically – it’s typical to ask insurers or brokers for qualifying discounts. Gold customers receive discounts as these are earned.
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