Economical Insurance Home Insurance Reviews

I was a first home buyer and I didn't have the experience then and they charged me for my home insurance a monthly $280 and I became busy with my bills. When I realized how unfair and ridiculous the fee was I brought it to their attention finally I was able to reach them after many tries and they informed me that this was the best they can do it and that it is actually a very reasonable price. So then I got new insurance for less than half of the amount they charged me and more benefits then I was receiving with Economical Insurance. I asked them several times how much they will charge me for cancellation and they informed me only one more month penalty yet I come to find they have taken $720 from my account!

We have been paying our premiums in full and on time to Economical for 15 years. Our family suffered an unexpected tragic lost of a family member thus sent in our payment a few days late. Called to explain the untimely circumstances which took priority at the time and asked for consideration regarding the matter and offered to provide information so that they could confirm the pasting of the family member. The company would not reinstate the policy although had no issue cashing the cheque and applying the payment towards a policy that they had cancelled and wouldn't reinstate. Cancer does not discriminate and I hope that when any employee at Economical is impacted by this disease, either directly or indirectly, that any persons/organization they in contact with during the ordeal do not subject them to the same insensitive, harsh and callous actions of this company. I manage hundreds of units that require all types of insurance and will ensure this company is not a consideration. When you don't have customer loyalty to sustain your business and treat customers in the manner that has been shared on these posts, the future of your business is volitle. Exceptional customer service is paramount in your line of business. Extremely disappointed that this foundation is lacking in your organization.

Horrible experience with this company, best case, they do not care about their customers. Worst case they have a predatory business model designed to bait and switch you to higher premiums. After moving residents we were not receiving our invoices via postal mail (no idea why). As a result, we were not able to pay by the due date (how could we, if we didn't know they were due). When the second invoice did finally arrive it was two weeks after the due date. They got it wrong for two billing cycles and then cut us off for two late payments. When we tried to fix the problem and inform them that invoices were not coming to us, they told us there was no way to fix it and we would need to pay double the premium for a new policy. Blatant stand over tactics and total lack of empathy for circumstances they are "by traditional postal mail only" invoicing method caused. It almost felt like they purposefully sent invoices late (or didn't send). Then tried to force us to pay more. Do not go with this provider, they do not care about customer service or building customer loyalty. The customer is just another number in their balance sheet and they do not value or respect them at all.

I had a house policy with them for 3 years, there was a payment due May 17. I was in Ottawa and failed to get it to them on time. Upon my return on June 3, I went into the office an paid the full amount. 2 days later I received a cancellation notice via registered mail. Notifying me that the policy will be cancelled effective June 15. Now I have to wait for a refund cheque. No communication other than the registered letter, no phone calls, no emails, no online account access. The lousy company seems quick to screw over people.

I changed banks, so I called up my broker and give her the new info. She said to put to stop payment on next withdraw, just to be on the safe side. So I did. Well, Economical took it as a refusal of payment and cancelled my insurance. When I tried to reinstated, they gave me a price that was 30% higher than my original price, because I was a financial risk. That's after being with them for 6 years and never bouncing a payment

My claim for my kitchen ceiling collapse has been ongoing for over 3 years. Not once was I ever given any advice on how to house myself or what would happen to my belongings. I was lucky enough to find a rental after 2 years living in Horrible Motels. I have lost all my belongings and am still renting even though I spent my whole life paying off my mortgage but am still spending 1500.00pm for accommodations because my insurance accommodations funding has been depleted because of the length of time for them to deal with my claim. Run away from this company. Worst experience ever and still not done with!

This company cancelled our home insurance over the Christmas holidays. The reason - after being a client who pays on time for over a year, we were away and missed a payment date by 3 business days. They cancelled our home insurance without notice. We only found out after the fact - 4 days afterwards via our broker. Good thing nothing happened to our house over that time. When we called them to rectify the situation, we were abruptly told that our insurance could not be re-activated. For an industry predicated on customer service, it is unbelievable how little they care about customers. They are cheaper for a reason. Buyer beware, stay away! Don't risk your house. 4 days without house insurance is stressful. Stay away!

I paid my full policy. Started getting past due notices. Then realized they refunded my credit card payment. My broker was old and clueless. I could never get through to Economical. I was concerned I wasn't actually insured since they refunded my credit card. 30 minute wait times. I switched to TD on my home. Then got an aggressive email - we've sent you to collection notice for $150. Can't get through. This company is the worst. Totally useless operation. DO NOT USE.

I didn't get my policy from them because they mailed it to the wrong address. It took two months to get a payment rate from them and then when I made the payment, they had already cancelled my policy. Still took half the payment I did make, then supposedly mailed me a check, which I have no assurance I will get because they never corrected the address! Can't be bothered to make a single phone call to their customers, completely reliant on mail and blame the customer when the mail doesn't go through. Don't do business with them.

I might as well not have had insurance. Every dollar to pay our claim has been a fight. If you ever have a claim while insured with Economical Insurance be prepared to do battle to recover your interests.
I would not recommend them to anyone.
They should change the name for economical insurance to CHEAPSKATE'S or TIGHTWAD'S . that is what they are like to deal with.