Scotiabank Car Insurance review December 2024
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Discover the methodologyBe it basic coverage, budget-friendly options, or extensive protection, Scotiabank car insurance has it all covered.
For Canadian drivers seeking value, Scotiabank Car Insurance offers great rates, a wide range of coverage, and perks like Auto Claim Forgiveness and Smarter Ride. In this review, we take you through everything you need to know about Scotiabank car insurance.
You can use our free tool to compare free personalized quotes from Canada's top car insurance providers to decide if Scotiabank is the right choice for you or if there's another plan that suits you better.
Scotiabank Car Insurance Canada: 5 Key Takeaways
- Offers a wide range of coverage options and competitive rates.
- Positive customer reviews highlight its convenience through Scotiabank branches.
- Additional benefits like Auto Claim Forgiveness reward safe driving habits.
- Scotiabank car insurance quote can be calculated on the company website.
- Discounts for multiple vehicles, good drivers, and long-term Scotiabank customers.
Our 2024 review of Scotiabank car insurance
Scotia Home & Auto Insurance is arranged for by BNS Insurance Agency Inc., which is a subsidiary of The Bank of Nova Scotia.
The policies themselves are underwritten by Belair Insurance Company Inc. Services are provided by Belairdirect Agency Inc. in all provinces except Quebec, where services are provided directly by Belair Insurance Company Inc.
Scotiabank car insurance excels with a comprehensive suite of coverage options tailored to diverse needs, offering everything from mandatory liability insurance to collision and comprehensive coverage.
Its policies are designed to cater to a broad spectrum of drivers, with the flexibility to choose between $1 million or $2 million in liability coverage, alongside specialized options for collision, comprehensive, and accident benefits coverage.
The inclusion of benefits such as Auto Claim Forgiveness rewards safe drivers, while Smarter Ride offers a modern approach to reducing premiums through telematics. Discounts for multiple vehicles, good drivers, and long-term Scotiabank customers add significant value, making it more attractive for families, safe drivers, and loyal clients.
However, its availability is restricted to specific provinces, excluding British Columbia, and the handling of services by a third party may affect the personal touch some customers prefer. Ideal for those seeking comprehensive coverage with additional perks, but may not suit residents in BC or those looking for direct insurer interaction.
Before you decide Scotiabank is the right choice for you, you must compare it with other plans in the market. You can do it right here. Use our free comparator tool below to explore the best car insurance policies in Canada and get personalized quotes in no time.
Compare Canada's best car insurance plans
Pros of Scotiabank car insurance
- Competitive rates and a wide range of coverage options.
- Additional benefits like Auto Claim Forgiveness and Smarter Ride.
- Positive Scotiabank car insurance reviews online for convenience and support.
- Consumers can call Scotiabank car insurance phone number 1-877-236-0924 for quotes or use the website.
Cons of Scotiabank car insurance
- Not available in British Columbia
- Services are managed by a third-party company, which might affect customer service experience.
What does Scotiabank car insurance cover?
It offers a variety of coverage options, including:
- Liability insurance: This is required by law in all provinces of Canada. It covers your legal responsibility for injuries or damage that you cause to others while driving. You have two coverage options: $1 million or $2 million.
- Collision insurance: This covers damage to your vehicle in the event of an accident, regardless of who is at fault.
- Comprehensive insurance: This covers damage to your vehicle from theft, vandalism, fire, and other perils, in addition to collision coverage.
- Accident benefits coverage: This provides benefits to you and your passengers if you are injured in a car accident, regardless of who is at fault.
Scotia Auto Insurance also offers several discounts, such as:
- Multi-vehicle discount: If you insure more than one vehicle with Scotia Auto Insurance, you may be eligible for a discount.
- Good driver discount: If you have a clean driving record, you may be eligible for a discount.
- Loyalty discount: If you have been a Scotiabank customer for a long time, you may be eligible for a discount.
Good to know
We recommend that you explore other top providers like Onlia car insurance, RBC car insurance, and more before zeroing in on a policy. You can do this using our free tool shared above.
Does Scotiabank offer rental car insurance?
Yes, Scotiabank does offer Rental Vehicle Coverage in Canada as part of some of their home auto insurance policies.
To be eligible for this insurance:
- You must have a Scotiabank Home Auto Insurance policy with both Collision and Comprehensive coverage.
- The coverage applies to car rentals in Canada and the U.S.
- It likely comes with certain limits, such as a maximum rental duration or vehicle value.
Similar to personal auto insurance, it typically covers damage to the rental vehicle caused by:
- Collisions (accidents)
- Theft
- Vandalism
- Other covered perils (depending on your specific policy)
It is secondary coverage, meaning your auto insurance would pay first, and Scotiabank's coverage would only kick in if your primary coverage doesn't cover the full cost.
Good to know
While it covers a lot of things, it doesn’t cover:
- Personal liability for injuries or damage to others while driving the rental vehicle.
- Loss of use charges are imposed by the rental agency if the vehicle is damaged.
- Additional fees like roadside assistance or administration charges.
What is Scotiabank’s All Perils coverage?
Scotiabank's All Perils coverage (a part of Scotiabank car insurance) is similar to standard All Perils coverage.
It combines Comprehensive and Collision insurance and covers most losses or damage to your vehicle, regardless of fault, except for those specifically excluded in the policy.
All Perils insurance includes protection against:
- Collisions with other vehicles or objects
- Theft
- Fire
- Vandalism
- Weather damage (hail, wind, flood)
- Animal damage
- Falling objects
- Riots
Scotiabank’s All Perils insurance has one additional benefit — coverage for theft of your vehicle by someone who lives in your house. This is not included in all Comprehensive coverages, so it's a valuable extension offered by Scotiabank.
How much does Scotiabank car insurance cost?
The price depends on various factors specific to you and your driving habits, location, and vehicle.
Here are the main factors that affect the cost:
- Your age, driving experience, and driving record: Younger drivers and those with fewer years of experience or accidents typically pay more.
- Your location: Insurance rates vary depending on your province, city, and even postal code due to factors like accident rates and theft statistics.
- Your vehicle: The make, model, year, and value of your car significantly impact the cost. More expensive cars with higher horsepower or poor safety ratings usually cost more to insure.
- Your coverage: The type and amount of coverage you choose will affect the price. Comprehensive and collision coverage is typically more expensive than liability coverage only.
- Additional benefits: Opting for add-ons like rental car coverage or roadside assistance will increase the overall cost.
Example car insurance quote
| Feature | Value | Description |
|---|---|---|
| Year | 2023 | Model year of the car |
| Make | HONDA | Car manufacturer |
| Model | ACCORD EX 4DR | Specific car model and trim |
| Distance driven | 20km | One-way commute distance |
| Yearly kilometers | 30,001+ | Total annual driving distance |
| Car condition | New | New car purchase |
| Driver age | 27 (male) | Current age and gender of driver |
| License age | 7 years | Years since obtaining driver's license |
| License class | Standard or probationary | Current driver's license class |
| Previous insurance | None | Not currently insured with any company |
| Yearly cost | $6,187.00 | Estimated annual premium from Scotiabank |
You can get Scotiabank car insurance quotes online on the company website or you could call the Scotiabank car insurance phone number 1-877-236-0924.
Compare quotes before you buy a policy. You can use our free tool below to get personalized quotes from Canada's best car insurance plans in a few easy steps right here.
Compare Canada's best car insurance plans
Good to know
Choosing the right deductible will help you get a good deal on your premium. Going for a higher deductible will usually lower your insurance premium, as you're taking on more financial responsibility. However, make sure you can afford the deductible if you need to file a claim. Read our guide on car insurance deductible to understand how it works.
Does Scotiabank car insurance offer additional benefits?
Yes! It offers benefits like Auto Claim Forgiveness, which protects your insurance premium from increasing after your first at-fault accident.
It typically requires being accident-free for a specific period (e.g., 3 years) after the forgiven claim. Auto Claim Forgiveness may have certain limitations related to the:
- The severity of the accident
- Frequency of claims
- The type of coverage affected
There’s another benefit called Smarter Ride — a usage-based insurance program that rewards safe driving with lower premiums.
It uses a telematics device installed in your car to track driving habits like speed, braking and acceleration. With Smarter Ride, you get various features like:
- Crash Assist: Automatically connects you to emergency services in case of an accident.
- Weather Alerts: Warns you about potential hazards on your route.
- Car Care: Provides maintenance reminders and tips to keep your car safe.
- Discounts: Earn discounts based on your driving score.
Good to know
Check out our car insurance barometer to get an idea of how premiums vary across provinces.
How to make a claim for Scotiabank car insurance?
The process for making a claim for Scotiabank's car insurance is simple and straightforward.
Immediately after an accident:
- Ensure everyone is safe. If injuries are involved, call emergency services immediately.
- Gather information: Exchange information with the other driver(s) involved, including names, contact information, insurance details, license plate numbers and vehicle descriptions.
- Take photos: Document the scene of the accident, including damage to all vehicles involved and surrounding areas.
- Contact Scotiabank: Report the accident as soon as possible, even if you don't know the extent of the damage. You can do this by calling at call 1-833-223-8743.
Scotiabank will fill the claims for you. Here are some additional steps you can consider taking:
- Provide additional information: Depending on the claim, Scotiabank might request additional information like witness statements, repair invoices or receipts for damaged belongings.
- Cooperate with the investigation: Scotiabank may assign an adjuster to investigate the claim. Answer their questions honestly and provide any requested information promptly.
- Get repairs done: You can choose your own repair shop, but keep receipts and invoices for reimbursement. Scotiabank might offer direct repair options with pre-approved shops.
Also, follow up with Scotiabank. Keep them informed about any updates on repairs, medical treatments or legal proceedings related to the accident.
Before you choose any car insurance, we suggest exploring different options and comparing them to get the best deal. It might help you save money. You can use our comparator to compare car insurance plans from leading Canadian providers.
Compare Canada's best car insurance plans
How to contact Scotiabank car insurance?
There isn't just one phone number for Scotiabank car insurance. It depends on your location and whether you're calling about claims or general inquiries.
Here are the relevant numbers:
- Scotiabank car insurance phone number for claims: 1-833-223-8743 (24/7)
- Scotiabank car insurance contact number for roadside assistance (for subscribers only): 1-855-572-6842 (24/7)
