Promutuel assurance

AN INSURANCE LEADER IN QUÉBEC

Promutuel is a leader in the Quebec property-casualty insurance market, with sales of $869 million. This insurer is one of the pioneers of theinsurance with some 170 years' experience and expertise in this sector with insurance brokers.

The brand is present in the various regions of Quebec through a large network of 16 mutual insurance companies, which over the years have demonstrated real expertise in the protection of property and people, in addition to their economic dynamism and social commitment.

The values behind Promutuel brokers

At the time, traditional insurers didn't provide enough protection for farmers, who faced numerous threats, increasing the risk incurred and making it difficult to obtain cover. And that's what prompted a number of local people to get together to protect each other and their assets, equipment and livestock. They set up insurance mechanisms to cope with the losses associated with the occurrence of any disaster.

The beginnings of Promutuel

It was in this very particular context that PromutuelIn 1852, farmers and villagers in the Huntingdon region decided to create the Beauharnois County Mutual Fire Insurance Company. This mutual association was to be a great success throughout Quebec, responding to the real and specific needs of the agricultural sector.

Between 1900 and 1956, mutual insurance companies experienced unprecedented growth. In fact, at first they only offered protection against fire and lightning damage, before later introducing protection against wind. What has enabled these mutuals to succeed is the fact that policyholders know and trust each other, and that claims expenses remain affordable. All of which has had a positive impact on fire prevention, given the sense of responsibility towards the common good.

The birth of a federation

A number of mutuals decided to form a federation in order to defend their interests in front of the government and increase their presence. The federation was created on April 18, 1956.

In 1975, a new law was enacted to bring about major changes for mutual fire, lightning and wind insurance companies, whose mandate was extended to cover automobile, home and business insurance. It is now possible to take out different types of insurance and protection for different types of damage and loss.

Over the past 20 years, Promutuel Assurance has continued to develop, further consolidating its mutualist approach and putting its insurance expertise and know-how at the service of its customers throughout Quebec.

Mutuality, a living model

Policyholders are also members or owners of the mutual. A legal form that establishes democracy among member-policyholders. They contribute to decision-making and have voting rights which they can exercise at the Annual General Meeting, irrespective of their shareholding in the mutual.

A strong sense of community prevails among mutual companies, not only in terms of the location of their head offices, but also through their commitment to various social aspects. This is reflected in their sponsorship and support of organizations working for the economic and social well-being of the various regions in which they operate. From an economic point of view, they are a dynamic player not only in job creation, but also in investment and the development of business partnerships with companies and their suppliers.

What insurance products does Mutuel offer?

Promutuel offers a wide range of protection products, including :

• Car insurance: the mutual insurer offers its customers automobile warranties at very competitive rates. Customers can select coverage to meet their specific needs. This is one of the reasons why thousands of Quebecers place their trust in Promotuel through a broker.

• Home insurance : Promutuel helps its customers to insure their homes properly, regardless of their status as owner, co-owner or tenant, because they can access suitable cover at advantageous rates. Homeowners can take out insurance with a broker Promutuel to protect your home and give you peace of mind in the event of a claim. Co-owners can also insure their condo and protect their property from damage. As for tenants, they have the opportunity to protect themselves and their possessions in the best possible way.

There are ways to pay less for car insurance

There are many ways to reduce your insurance bill. In some cases, this means reducing coverage. For example, you could drop full coverage on an older vehicle or on your motorcycle.

Increasing deductibles, i.e. what you pay before insurance kicks in, is another way to save money, if you can afford to cover potentially higher out-of-pocket expenses..:

1. By increasing your deductible from 500 to 1,000 $, you could reduce the cost of your collision and comprehensive insurance by 15 to 30 %. Switching to a 1,000 $ deductible could save you 40 % or more.
2. Visit insurance companies in Quebec offer discounts to people who have low mileage, own several cars, are careful drivers (no traffic violations in three years) and have good grades, to name but a few.
3. You can also get a better price by grouping auto, recreational vehicle and home insurance with the same company.