Is PC Financial car insurance worth it in 2024?
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Discover the methodologyCanada's car insurance industry is huge, with hundreds of thousands of policies sold each year by numerous companies across the country. Trying to find the perfect car insurance policy suitable for your needs is difficult, to say the least, and even harder finding one at a good price.
But how do you find the best car insurance policy? The answer is two-fold: online insurance comparison websites and insurance brokers.
This article specifically explores the advantages of PC Financial car insurance and how the company helps thousands of people with their automobile insurance coverage every year.
PC Financial car insurance: 4 Key Takeaways
- PC Financial works with a number of the best car insurance providers in Canada.
- They operate throughout Ontario, Alberta, New Brunswick, PEI, Nova Scotia and Newfoundland & Labrador.
- From ‘good student’ to retiree and electric car insurance discounts, numerous options are available.
- PC Financial’s brokers are available 24 hours a day offering everything: Sales support, claims, help during an incident, and more.
Our PC Financial car insurance review: Great for personalized coverage
PC Financial car insurance is offered throughout Canada by a branch of the company operating under the name PC Insurance. As licensed insurance advisors, PC Financial Insurance Brokers help thousands of individuals every year to compare insurance quotes and get personalized coverage.
Through both home and car insurance, the company has developed a good reputation and track record for working with some of the best insurance providers in the country, all while taking into consideration their client’s best interests.
PC Financial’s car insurance and customer support are especially well-regarded, as evidenced by hundreds of great online reviews, making the company a great option when looking for car insurance.
Advantages and disadvantages of PC Financial
As an insurance broker, PC Insurance can be an incredibly helpful middleman between you, the customer, and the insurance provider from which you ultimately buy an insurance policy.
From their inside insurance knowledge and expertise, they do offer numerous benefits. Unfortunately, when dealing with brokers a lot of people may feel like they’re ‘being sold’ a product and get uncomfortable using their service.
The following breakdown of the advantages and disadvantages of working with PC Financial for your car insurance may help you better understand why they stand out and how they can help you with your coverage.
Pros of PC Financial car insurance
- Expertise and guidance: PC Insurance is a top insurance broker with decades of experience guiding clients when it comes to car insurance coverage and giving input where needed.
- Save time and hassle: By offering clients multiple car insurance options at one time they condense the time it takes to search for, review and purchase car insurance.
- Multiple choices: It is difficult to compare multiple policies at once, but an insurance broker can highlight key differences between policies, providers and prices all at once.
- After-sales support: The best insurance brokers help clients navigate the paperwork and offer claim support, often shortening the time between an insurable event and receiving compensation.
- Ongoing service: Will provide continuous and ongoing support throughout the insurance relationship, helping you review coverage and needs as they evolve.
- Good reviews: PC Insurance has over 300 5-star reviews on Facebook with an overall 4.5/5 rating.
Cons of PC Financial car insurance
- Less direct communication: While you gain contact with the insurance broker, you may sacrifice direct contact with the insurance provider themselves.
- Potential bias: Since the insurance advisor receives compensation from the insurance provider, their recommendation could be influenced by a potential broker-insurer relationship.
- Finding the right broker: A broker may simplify the process of finding the right insurance policy, but you still have to find the right insurance broker that you are comfortable working with.
Working with an insurance broker isn’t the only way to compare multiple car insurance plans at one time! HelloSafe’s online comparison tool offers immediate insight into the best car insurance policies and providers in Canada through the click of a few buttons.
Compare Canada's best car insurance plans
Who is PC Financial?
President’s Choice Financial, known as PC Financial, is part of Loblaw Companies Ltd which provides banking services to over 3 million customers throughout Canada. Established in 1998, PC Financial has built a company around the idea of always doing good and being Proudly Canadian.
PC Financial Insurance Broker Inc. is another branch of Loblaw Companies Ltd that arranges PC Financial car insurance and home protection for clients from carefully screened Canadian insurers, throughout six provinces. While only a smaller arm of the overall financial service offerings, the company has grown throughout Canada as a trusted brokerage used by thousands to obtain the right coverage.
What types of car insurance does PC Financial offer?
Offered through the full network of their insurance providers, PC Financial car insurance policies include the full range of mandatory insurance and optional coverage add-ons. Whether you’re looking for third-party liability or all perils, the advisors at PC Insurance can steer you in the right direction, helping you get personalized protection.
PC Financial car insurance includes the following scope of insurance.
- Third-party liability: This mandatory Canadian coverage protects against accidents where you’re at fault or injuries that you cause to other people. The insurance can cover financial repairs to vehicles or other fees incurred as a result of litigation.
- Accident benefits: Provides protection if you are injured as a result of an incident, regardless of fault. Depending on the extent of coverage, it may cover health care as well as lost income.
- Direct compensation property damage (DC-PD): Applicable to Ontario residents only, DC-PD ensures that you receive compensation directly from your insurance provider, regardless of fault, who in turn will chase reimbursement from the third party.
- Uninsured vehicle: Financial protection in case you are involved in an accident caused by an uninsured driver.
- Collision and upset: An add-on to basic car insurance, collision will cover the repairs to your vehicle even if you are at fault while upset will provide financial protection if your car rolls over.
- Comprehensive car insurance (excl. collision and upset): Excluding collision and upset, comprehensive cover will financially protect your vehicle from a range of other incidents such as theft, vandalism, weather-related damage, windscreen cracks etc.
- All perils: An all-encompassing insurance policy combining coverage for all damage under one umbrella and one deductible.
- Waiver of depreciation: Depending on the age of your car, if it is damaged to the point of total loss or is stolen, this optional add-on will replace your vehicle with the same or comparable model regardless of depreciation.
- Borrowed or short-term rented car coverage: Provides extended financial protection covering damage or loss to a rented or borrowed vehicle in Canada or the USA.
What car insurance providers does PC Financial work with?
Proudly Canadian, PC Financial car insurance is offered through PC Financial Insurance Broker Inc., who partner with a selection of the best pre-approved insurance companies in the country. By conducting its due diligence and only partnering with the best, PC Financial can leverage its experience with quality, providing its clients with good customer service while knowing that they will receive top after-sales care.
The leading insurers that PC Financial have terms of business with include:
- AVIVA car insurance
- Economical Insurance
- Intact Insurance
- Travelers
- PAFCO
- Pembridge Insurance Company
- Wawanesa Insurance
Looking for good car insurance but don’t know where to start? Compare some of the best Canadian policies online using our free car insurance comparison tool below.
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How much does PC Financial car insurance cost?
Since PC Financial car insurance is comprised of policies from multiple insurance providers, the range of premiums varies drastically. Furthermore, since car insurance underwriters take into consideration numerous factors when calculating premiums, a premium for one individual driving a certain car in a specific neighbourhood won’t be the same as car insurance cost for another.
Some of the factors that PC Financial car insurance providers consider when underwriting a policy include:
- Age
- Gender
- Driving experience
- Residence
- Former claims and traffic violations
- Estimated number of kilometres driven per day and year
- The year, make and model of the vehicle
- If the car is new or used
- If it is financed, leased or paid off
- Where it will be parked overnight
- What the car will be used for
- If winter tires are used
- The extent of coverage chosen
- Additional individuals to be insured on the car
While not an exhaustive list, you can see that where these variables change from person to person, so will the cost of the car insurance.
Fortunately, PC Financial has an online quote generator for car insurance. By inputting some key details you can receive a preliminary quote based on your answers to certain questions. When in hand, you can simply give PC Financial a call to finalize your car insurance.
PC Financial car insurance cost
The cost of car insurance for a 30-year-old driver with no former traffic violations or claims, driving a paid-off 2020 Honda Accord EX 4DR approximately ~7,500km/year, living in Markham, Ontario, with only basic mandatory third-party liability up to $1,000,000 is estimated to be $296/month and offered by Economical Insurance.
PC Financial car insurance discounts
Car insurance can be expensive and although PC Financial does provide options from multiple insurers, they are no exception to the rule. Of course, as with all insurance and products for sale, discounts are available if you know what to look for and where to find them.
Fortunately, PC Financial car insurance advisors do the hard work for you. On their website, they showcase the following car insurance discounts that are available to clients which can drastically reduce overall car insurance premiums.
- Autonomous emergency braking system discount
- Anti-theft device discount
- Good student discount
- Graduated licensing discount
- Retiree discount
- Electric or hybrid vehicle discount
- Multi-vehicle discount
- Combining auto and home insurance discount
- Conviction free discount
- Mobile app to track driving behaviour discount
Where does PC Financial offer car insurance?
Despite having a well-known and wide presence throughout Canada, PC Financial car insurance can only be bought throughout:
- Ontario
- Alberta
- New Brunswick
- Prince Edward Island
- Nova Scotia
- Newfoundland & Labrador
Outside of these provinces, PC Financial Insurance Brokers Inc. is not licensed and can, therefore, not take on clients or help with insurance needs.
How to contact PC Financial car insurance?
If you think that PC Financial car insurance advisors may be able to help you find the right cover, don’t hesitate to reach out to them. All the contact details for PC Insurance are highlighted below.
| PC Financial Car Insurance Contact | Contact Details |
|---|---|
| Contact an insurance broker by phone | 1 866-376-5236 Monday to Friday 8:30 a.m. to 7:00 p.m. EST Saturday 9:00 a.m. to 5:00 p.m. EST |
| Contact sales and customer support for existing policies by phone | 1 800‑205‑7171; 1 877-251-8656 Monday to Friday 8:30 a.m. to 7:00 p.m. EST Saturday 9:00 a.m. to 5:00 p.m. EST |
| Contact claims by phone | 1 877-251-8656 24 hours a day, 7 days a week |
| Contact by email | [email protected] |
| Contact by mail | PC auto and home insurance P.O. Box 483 - Station A Windsor, ON N9A 9Z9 |
