The following information was extracted from the Economical Insurance website. Please consult the original article for more information and for any further updates.
We’re Here For You
As a company and a dedicated corporate citizen in communities across Canada, we’re doing our part to help stop the spread of COVID-19. Our thoughts go out to those already affected. We’re continually finding ways to support our customers, brokers, employees, and communities. We have updates to share with you below that may help answer questions about how we’re supporting customers who are facing financial hardship because of the pandemic.
We contribute money, and our employees time and energy, to community relief organizations that help the vulnerable, support front-line workers, and assist those in need during this critical time. You can find details about how we’re helping Canadian communities in our latest news release.
We’re offering flexibility and different payment options to make it easier for customers facing financial hardship as a result of the pandemic. We treat every request with the care and diligence you deserve and expect. Because each situation is different, we have committed our time to reviewing each case individually as opposed to making blanket decisions that may or may not be beneficial in relation to an individual or business’ circumstances.
- Flexible payment options, including payment deferrals and waived NSF fees
- Payment plan adjustments to update the method or frequency of payments
- Reduction of auto insurance premiums by limiting coverage or reducing the number of annual kilometres driven — our enhanced annual kilometres discount could save customers on average up to 15% off their premium until June 30, 2020
- For customers taking their car off the road completely, they could save up to 75% on their premium
For business customers:
- We’ve made appropriate changes to our rating approach for commercial insurance customers, acknowledging the challenging circumstances many businesses face today
- We’re working with our broker partners to adjust premiums for small and mid-sized businesses that have been directly impacted by COVID-19 and are experiencing temporary closures and significant decreases in revenues, and changes in operations
- We will also provide flexible underwriting solutions for businesses that have made changes to, or retooled, their operations to adapt, and to support the needs of the current crisis
*Disclaimer: The following information was extracted from the Economical Insurance website. Please consult the original article for more information and for any further updates. https://www.economical.com/en/information-for-customers-regarding-covid-19