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Auto Insurance:

Premium Reduction:

Economical has applied a five per cent rate relief reduction to personal auto insurance policies in Ontario only. This reduction was automatically applied to new auto policies starting on or after July 1, 2020, and any existing policies with a renewal date between September 1, 2020 and August 31, 2021. Please note that although this five per cent reduction has been applied, there are other factors that naturally impact your premium such as claims, prior rate increases or changes to your policy.

For Alberta policy holders, Economical has implemented an overall rate reduction which will vary by policy. These changes took effect as of May 6, 2021.

Customers whose driving situations have changed have the following options.

  1. Adjust the use of your vehicle. If you are using your vehicle less due to COVID-19, your policy can be temporarily adjusted to reflect this. Please keep in mind if you are no longer driving to work, any potential savings will be based on the length of your typical commute. If you did not use your vehicle to drive to work before COVID-19, you will not see any cost savings. Your premium will be prorated for the time you are no longer commuting to work, therefore, when you return to your regular work commute, you will need to contact us to adjust your policy and your premiums will be adjusted accordingly.

  2. Park your vehicle and remove all road coverages. There are multiple options to remove road coverages from one or more of your vehicles depending on your personal circumstances. This will translate to the most savings however it will mean that you can no longer drive your car for any reason including groceries, etc. If your vehicle is leased or has a loan against it, we would require permission from the lessor or financial institution in order to delete coverages. We would be happy to discuss these options with you and what they might mean for you and your family.

It is your responsibility to update us when any change occurs. We recognize that we are all learning to adapt in these uncertain times. If you choose to amend your auto policy, it is your responsibility to contact an TW Insurance broker if and when your driving habits change. We can then work with you to ensure you have the right coverage for your needs. If your coverage does not match your driving habits, there is risk that your claim could be denied.

If you would like to amend your auto policy based on the information outlined above, please click here to fill out our
COVID-19 Policy Change Request Form.

Home Insurance:

Many of our customers are now temporarily working from home.  While property policies do not provide coverage for business pursuits at home, Economical provides coverage for incidental office use for those working from home at no extra cost. The amount of coverage for business property kept at your home varies from $2000 to $5000 depending on the type of policy you have.


Economical is offering flexible payment options on a case-by-case basis. Please contact us to discuss your options.