Is Economical Insurance a legitimate company?
The Economical Insurance identity, among other leading Canadian financial services companies, is occasionally used by those operating these scams. If you receive an unexpected communication or are requested to take an unanticipated action, do nothing and contact your insurance broker.
What kind of insurance is Economical Insurance?
Is insurance cheaper going through a broker?
While brokers can save you time and money, you may have to pay a broker fee for their services. Even with the fee, you may spend less overall. For example, if a broker saves you $100 on a policy per year for three years, and charges a $100 fee, you've still saved $200.
Will I get a check from Economical Insurance?
If you are an eligible policyholder, you would have received information about our demutualization over the past few years, and you may receive a package in the mail with a cheque from Definity Financial Corporation.
What kind of insurance is Economical?
Property & Casualty insurance company
Is Economical Mutual Insurance the same as Economical Insurance?
While the company's legal name — Economical Mutual Insurance Company — did not change, The Economical Insurance Group® became Economical Insurance®.
Why did I get a cheque from Economical demutualization?
Demutualization benefits are financial benefits that were distributed to eligible policyholders after the demutualization of Economical Insurance. Cash benefits came from selling the shares of Definity Financial Corporation to investors in its IPO and concurrent private placements.