RBC Insurance

Why RBC Auto Insurance?

RBC Insurance Canada is a top-rated insurance provider offering a wide variety of products including car, home, life and health coverage. The company is a segment of Canada’s largest bank, the Royal Bank of Canada, with its head office in Mississauga, Ontario.

In its own right, RBC Insurance is Canada’s largest bank-owned insurance company with more than five million customers. In addition to serving the Canadian market, the firm also has branches around the world with more than 3,500 global employees.

Industry Ratings

Financial analysis firms provide ratings for insurance companies to give consumers an idea of their financial strength. These ratings basically provide an analysis of the risk involved in doing business with the company based on factors like the insurance firm’s capitalization, liabilities, cash flow and other financial data.

The ratings give consumers an idea of whether the insurance provider might have trouble meeting all of its financial obligations particularly during times of economic distress.

The leading financial firm A.M. Best Co. rates RBC Insurance Group as “A” meaning that it has excellent financial strength. A.M. Best rates the company’s outlook as “stable.” The A rating and stable outlook affirm that the insurance group exposes customers to minimal risk.

Another analyst, Moody’s, gives the company a “B” rating for financial strength and the highest rating of “AAA” for covered bonds. Indeed, other ratings companies like Standard & Poor’s, Fitch and DBRS also agree in providing AAA ratings for RBC covered bonds.

In terms of customer satisfaction, J.D. Power and Associates provides the following ranking: “Highest in Customer Satisfaction among Auto Insurers in the Ontario and Atlantic Region.”

Why One Should Choose the Company

RBC is a leading Canadian car insurance company and one of the fastest growing providers of all types of insurance products in Canada. Coverage plans include travel, health, wealth, life, home and auto insurance for individuals and groups.

In addition to its high financial ratings and established reputation in the industry, the company takes pride in providing the highest quality service to customers.

For clients living in Calgary, for example, RBC Insurance Canada provides some of the best car insurance Ontario has to offer. An RBC Insurance quote will usually equal or match those of other car insurance companies, but none of the competitors have the same solid reputation.

The agency provides 24/7 claims processing and a free Valet Service for customers who live in qualifying urban areas.

Discounts Offered

A number of discounts are available for RBC customers depending on the type of insurance product sought.

  • A 5% discount is available for customers who get online quotes.
  • Customers who insure more than one vehicle qualify for a 15% discount.
  • A 12% discount is available for home, condominium and renter insurance plans
  • Lower premiums are available when you pay a higher deductible
  • Lower premiums are available when you install an approved anti-theft device in your car
  • Lower premiums are available for parents who enroll their driving teenagers in an approved driver education program.
  • Auto rental discounts are available for customers that rent cars more than two or three times a year.

Customer Service and Claim Processing

The J.D. Power and Associates rating mentioned previously provides evidence that, in addition to being a cheap car insurance company, RBC also provides excellent customer service.

The company offers a 24/7 toll free hotline for all insurance claims along with many other contact options. An online chat service is available at the official website that allows you to chat live with a licensed insurance advisor.

The website provides abundant materials that can help customers with claims processing and other issues. The Client Support section has pages on claims and emergencies, consumer information and unclaimed property along with a FAQ.

An “Ask a Question” text box at the site allows you to enter in any question to get an immediate automated response. The tool works quite well in understanding queries and providing helpful answers. If you would rather discuss your issues with someone in person, the site has a locator for branch offices and advisors.

Other helpful tools include an assortment of calculators including one that allows you to assess your personal insurance needs. You can download a checklist that covers what you should do in case of an auto accident.

Whether you have RBC car insurance or any other of the agency’s insurance products, one thing that you can be confident of is high quality customer service from this company.