Economical Assurance is one of Canada’s oldest insurance companies, founded in 1871 in Kitchener, Ontario. Today, it is a subsidiary of Definity Financial Corporation (listed on the Toronto Stock Exchange) and insures more than one million customers across the country. In Quebec, Economical is represented by the Missisquoi Insurance Company, founded in 1835 — the oldest property and casualty insurance company in Canada. Its products are distributed exclusively by independent AMF certified brokers. At Assur360, our brokers compare Economical with 9+ insurers to find you the best price.
Who is Economical? Portrait of the insurer
Economical is part of the Definity Financial Group, a Canadian property and casualty insurance conglomerate with 8 specialized subsidiaries. The rating company A.M. Best gives it an A (Excellent) rating for its financial strength.
155 years of history
Founded in 1871 as Economical Mutual Fire Insurance. In Quebec, it is present through the Missisquoi Insurance Company (founded in 1835), the oldest in Canada.
Definity Financial Group
Definity is the publicly traded parent company (TSX: DFY). The group manages more than $4 billion in gross premiums and includes 8 insurance subsidiaries across Canada.
Distribution by Brokers
Economical sells exclusively through independent brokers. You benefit from impartial advice and a comparison with other insurers for your profile.
8 specialized subsidiaries
Economical, Missisquoi, Sonnet (online), Waterloo, Western General (agricultural), Perth (special risks), Petline (animals), Family Insurance Solutions.
Economical Insurance Products in Quebec
Economical offers a full range of auto, home and business products. Here are the details of each product line available in Quebec via broker.
🚗 Economical Car Insurance
Economical offers comprehensive auto policies with customization options to suit your profile. Significant discounts are available for good drivers and policy bundling.
Civil liability
Mandatory coverage in Quebec in addition to the SAAQ. Protects against property damage to others. Recommended: $2,000,000.
All Risks / Collision
Complete protection against collision, theft, vandalism, natural hazards. Customizable deductible from $250 to $2,000.
Replacement Cost
Replacement with an equivalent new vehicle in the event of a total loss in the first few years. Endorsement strongly recommended.
🏠 Economical Home Insurance
Whether you are a homeowner, tenant or co-owner, Economical offers tailored coverage with customizable endorsements for specific risks in Quebec.
Owner
House, condo, cottage. Covers the building, personal property, liability, and additional living expenses.
Tenant
Protects your personal belongings, liability and covers your leasehold improvements. Starting at $25 per month.
Special Endorsements
Sewer backup, earthquake, identity theft, surface water damage — added to the map as needed.
🏢 Economical Business Insurance
Economical covers Quebec SMEs with comprehensive packages that include property, liability, loss of revenue and cyber risks. The Perth subsidiary manages special risks.
Property & Building
Coverage for commercial buildings, equipment, inventory and leasehold improvements.
Civil liability
Protection against third-party claims: bodily injury, property damage and professional liability.
Business interruption
Protects your revenue if a disaster forces a temporary halt to your business operations.
The Definity Group — Economical Subsidiaries
Economical is part of a group of 8 insurance companies, each with its own specialty. Together, they form Definity Financial Corporation.
🏛️ Missisquoi (Quebec)
Founded in 1835, it is the oldest property and casualty insurance company in Canada. She has represented Economical in Quebec since 1956.
💻 Sonnet (online)
Founded in 2016, Sonnet offers 100% online insurance quotes and policies — the direct arm of the Definity Group.
🚜 Western General (Agricultural)
Founded in 1905 by farmers. Specializes in farm insurance: housing, vehicles, machinery and agricultural activities.
🐾 Petline (animals)
Canada’s oldest pet insurance company. Its Petsecure brand offers health coverage for dogs and cats.
Economical 2026 Rates — Quebec Estimates
Here are the indicative price ranges for the main Economical products in Quebec in 2026. The actual rates vary according to your profile, your region and the coverage chosen.
| Product | Covers included | Estimated premium / year | Factors of variation |
|---|---|---|---|
| 🚗 Car | Mandatory liability + collision + all risks | $1,000 – $ | 1,700Driving record, age, vehicle, use |
| 🏠 Dwelling (owner) | Building + property + RC + subsistence | $900 – $ | 1,400Value, location, added protections |
| 🏠 Dwelling (tenant) | Personal property + RCA + improvements | $300 – $ | 600Value of Assets, Location |
| 🏢 Company | Property + building + RC + loss of income | $700 – $3,000+ | Sector, turnover, risks |
| 🚜 Agricultural | Farm + Machinery + Livestock + RC | $1,200 – $4,000+ | Farm size, equipment, livestock |
*Indicative rates for 2026 in Quebec. Get your exact price in 3 minutes with our AMF-certified brokers.
Expert Tip — Save up to 20%
Economical rewards multi-product loyalty. Bundle your car + home for a combined rebate of up to 15-20%. Their Economical Select program offers discounted rates to employees of certain companies and associations — ask your broker if you’re eligible.
How to get an Economical quote in Quebec
Economical sells exclusively through brokers. Use Assur360 to compare Economical with 9+ insurers in a single claim.
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Economical vs. the Competition — Find the Best Price
Our AMF-certified brokers compare Economical with 9+ insurers to find you the best coverage at the best price.
Get my free quote 📞 1-866-357-4451Pros and Cons of Economical
To help you make an informed choice, here’s an objective analysis of Economical’s strengths and weaknesses in 2026.
✅ Benefits
- ✓ 155 years of experience — one of Canada’s most established insurers
- ✓ A (Excellent) A.M . Best rating — proven financial strength
- ✓ Competitive rates — often among the lowest premiums on the market
- ✓ Multi-product discount up to 20%
- ✓ Select Program — discounted rates through employer or association
- ✓ Historical presence in QC via Missisquoi (since 1835)
⚠️ Points to consider
- → No direct online purchases — you have to go through a broker (Sonnet is the direct branch)
- → Confusing brand name — Economical, Missisquoi, Definity = same group
- → Limited recreational range — no boat/motorcycle/RV specialty
- → Farm coverage through Western General — not available everywhere in QC
- → Definity Transition Underway — Possible Rebranding
6 ways to reduce your Economical premium
Group your fonts
Auto + Home at Economical = combined 15-20% discount. The more you bundle, the more you save.
Select Program
Check to see if your employer or association participates in the Economical Select program for automatic preferred rates.
Increase the deductible
Going from $500 to $1,000 in deductible can reduce your premium by 10 to 15 per cent. Ideal if you have a good record.
Good driving record
Zero claims + zero violations = loyalty discount that accumulates year after year.
Safety features
Alarm, anti-theft system, cameras, certified locks — each device can reduce your premium.
Economical in Quebec — Availability by Region
Economical (via Missisquoi) serves all of Quebec through its network of independent brokers. Customers in Montreal, Quebec City, Laval, Gatineau, Sherbrooke, Trois-Rivières, Saguenay and Thetford Mines can get a quote through Assur360. Our brokers also serve the Abitibi, Bas-Saint-Laurent, Côte-Nord, Estrie, Laurentides and Montérégie regions.
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🏢 Northbridge Insurance
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Frequently Asked Questions about Economical
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