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The first rule of saving money is to shop around for the best price. Make sure you’re not overpaying for home insurance by comparing insurance providers before you settle on one. LowestRates.ca makes comparing multiple home insurance companies a snap. We don’t sell insurance — we’re completely independent — but we can show you which insurer is offering the lowest price. Just enter your postal code and in 3 minutes we’ll show you rates from Canada’s big banks and independent lenders. Best of all? It’s free.
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When you find the best quote, secure your rate by talking to a licensed broker or agent.
The Co-operators was founded by a group of Saskatchewan farmers who believed they weren’t being well-served by traditional insurance providers.
In 1945, the farmers established the Saskatchewan Wheat Pool, collectively contributing $25,000 into a communal risk pool.
At the time, one of the founders, Albert Savage, likened the fledgling insurance provider to the acorn that would inevitably become an oak tree. In the years that followed, the company expanded east to Manitoba and Ontario. Today, they’re headquartered in Guelph, Ont.
While a lot has changed in its 70-year history, community is still central to The Co-operators philosophy, the aim of which is to create sustainable societies by promoting the co-operative business model.
The Co-operators provided major financial relief during several Canadian natural disasters including the fires in Slave Lake and Fort McMurray in 2011 and 2016 respectively. In addition, The Co-operators donates 1% of their pre-tax income to charities and non-profits as well as partnering with the Kids Help Phone.
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Your home insurance policy will be customized to suit your needs and the property you’re insuring.
Home insurance premiums are determined by dwelling type (is it a single-detached home, a house with a basement tenant suite, or a condo?). Insurance companies also try to predict the kind and size of claim you might make in the future.
Here are some of the criteria insurance companies look at when calculating your premium.
The first thing you should do in order to secure a lower rate on The Co-operators home insurance in Canada is shop around. When you do that, you can compare The Co-operators home insurance against other companies to make sure you’re getting the best rate.
Using a website like LowestRates.ca, you can get an online quote for The Co-operators home insurance. In just three minutes, you can compare home insurance quotes from 50+ Canadian providers and see for yourself what home insurance coverage from The Co-operators would cost based on your needs.
Once a broker reaches out to you, you can ask them about potential discounts you might be able to secure, including:
Enviroguard - This program helps homeowners make their properties more environmentally friendly. Owners pay $40 per year and are promised an additional 10% on the claim amount for damages up to $50,000. The Co-operators will also replace or repair property damage with environmentally-friendly products like bamboo flooring or Energy Star appliances.
Identity fraud - The Co-operators homeowners insurance includes an endorsement called Identity Fraud Coverage Expense, which reimburses clients $10,000 - $25,000 in the event your identity is stolen. This includes the costs of affidavit notarization, lawyer fees and lost income. This offer is only available to customers who purchase the Prestige coverage package (The Co-operators’ comprehensive insurance policy).
Personal Umbrella Liability - This program at The Co-operators enables homeowners to choose to add an extra $1-million to $5-million of liability to their policy, with no deductible. It also applies to watercraft, auto and seasonal policies.
Comprehensive Water - Coverage for water damage that The Co-operators’ base home insurance policy may not cover, this program has you covered in all cases of water damage like septic or sewer backups, storm surge and flooding from bodies of water.
Guaranteed Replacement Cost - With a regular policy, the property is given a replacement value. The Guaranteed Replacement Cost program differs because it offers Prestige policyholders the actual replacement cost of the damages regardless of whether the damage exceeds the predetermined replacement value limit.
Yes. The app offers easily accessible information regarding your home insurance policy and coverage from The Co-operators. Through the app, you can make a claim on your home insurance plan and make payments or contact The Co-operators directly.
To make a home insurance claim, contact The Co-operators 24/7 through the app or at 1-877-682-5246. Those from Quebec should call 1-877-594-2667. You can also make a claim online.
To speed up the claims process, homeowners should also download and fill out the Proof of Loss and Schedule of Loss forms online. For claims up to $10,000, homeowners can choose to receive their settlement through Interac e-transfer.
For additional customer service from The Co-operators home insurance, see below:
For a home insurance emergency, call The Co-operators claim centre at 1-877-872-5246.
Hours of availability:
Renters will be glad to know that The Co-operators also provides tenant insurance.
And if you happen to be a landlord looking for home insurance, The Co-operators can help you find the best policy for your needs.
Other products The Co-operators offer are:
Lisa Coxon
About the Author
Lisa is an Editor and Writer for LowestRates.ca. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.
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