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Looking for a car insurance policy? If you want to legally operate a motor vehicle on the road in Canada, you’ll need one. Without a policy in place, you could face hefty fines if you ever get caught by the police. 

But aside from your obligation to take out a car insurance policy, having one can also prove very helpful if you’re involved in a car accident or your car is stolen or vandalized.

There are plenty of insurance companies out there that offer auto insurance policies, including Industrial Alliance. For more than a century, Industrial Alliance (iA) Financial Group has been operating as one of Canada’s largest insurance wealth management companies and offers insurance and financial products, including car insurance. 

Let’s take a closer look at Industrial Alliance to help you decide if this is the right insurance provider to secure a car insurance policy with. 

Types Of Vehicle Insurance Offered By Industrial Alliance Offer

Industrial Alliance offers the following types of auto insurance:

Third-Party Liability Insurance

If you’re ever involved in a car accident that was your fault and caused injury to another person or damage to another person’s car, you could be held liable in a court of law. You may be sued for damages, which could add up to be thousands of dollars or more. But with a liability insurance policy in place, these costs can be covered.

In Canada, liability insurance is mandatory. And while you may be required to carry a certain minimum (depending on the province that you live in), you have the option to pay more for higher liability coverage so that you’re adequately covered in the event of an accident. For instance, the minimum amount of third-party liability coverage is $200,000 in Ontario, while in Quebec, the minimum is $50,000.

Collision Insurance

This type of insurance covers the cost of repairing or replacing your vehicle if it is involved in an accident that was your fault. The incident could involve another car or an object. 

Regardless, the damage caused will be covered by collision coverage. This type of coverage is not mandatory, but it can provide you with peace of mind knowing that you’ll receive financial compensation to repair your damaged car if you’re ever involved in a collision. 

At Industrial Alliance, you can pick the deductible that best suits your needs, such as $250, $500, or $1,000.

All Perils Insurance

This type of coverage will reimburse you to pay for damages done to your vehicle that did not involve a collision, such as fire, theft, vandalism, or weather-related damage. 

Additional Coverage You Can Get With Industrial Alliance

Industrial Alliance offers a variety of additional options that you can add to your policy to customize it can get more comprehensive coverage:

Replacement Coverage

This type of policy will provide enough coverage for you to replace your new or leased vehicle with one that has the same features as your current vehicle if it is ever totalled in an accident or the subject of theft. As such, replacement cost coverage will protect the value of your car from depreciation. If you suffer partial losses, your car will be repaired with the same parts if you have replacement cost coverage in place.

Borrowed/Rental Vehicle Coverage

This option covers the cost to repair or replace a rented or borrowed vehicle up to a maximum of $75,000.

Travel Expenses

If your car is damaged and needs time to be repaired, a travel expenses policy from Industrial Alliance will provide coverage to pay for a rental car, taxi, public transportation, or rideshare in the meantime so you can still get around. You can get reimbursed up to $75 per day, up to a maximum of $2,000.  

Individual Insurance

If you suffer dismemberment or death caused by a car accident, an individual insurance policy will provide $15,000 in compensation.

Roadside Assistance 

This coverage will reimburse you for costs related to getting your car back on the road if you’re ever stuck. It can cover the cost to boost a dead battery, unlock your car doors, change a flat tire, deliver gasoline to add to an empty tank or tow your vehicle to the nearest shop. Roadside assistance through Industrial Alliance is available 24 hours a day, 7 days a week.

Automax Coverage

This is an all-in-one type of policy that combines coverage for many of the above, including the following:

  • Damage to rented or borrowed vehicles
  • Individual insurance
  • Travel costs
  • Stolen or lost keys

Vehicles You Can Insure With Industrial Alliance

There are several types of vehicles that can be covered by an auto insurance policy with Industrial Alliance, including the following:

  • Standard vehicles
  • Electric vehicles
  • Hydris vehicles
  • Classic vehicles
  • Motorcycles
  • ATVs 
  • Snowmobiles
  • Commercial vehicles
  • RVs 
  • Motorhomes
  • Trailers
  • Boats

How Do You Get A Quote?

At this time, an auto insurance policy from Industrial Alliance is only available in Quebec. 

You can get a quick quote online by providing a few pieces of information, including the following:

  • Year, make, and model of the vehicle
  • Date of purchase or lease
  • Condition of the vehicle
  • Whether the vehicle was purchased new or used
  • How the vehicle is used (ie. to commute to work, school, etc)
  • Number of kilometres per year

Alternatively, you can also obtain a quote by speaking directly with a live agent by calling 1-866-650-4689.

Pros And Cons Of Industrial Alliance Auto Insurance

Pros 

  • Quick and easy quote – Just answer a few questions online, and you can quickly obtain a quote without having to pick up the phone.
  • Several options available – You can fully customize your auto insurance policy thanks to the various options available to choose from.
  • Discounts for multiple vehicles – Insuring all your household vehicles under one roof at Industrial Alliance can help you save even more.
  • 24/7 service – There is always someone available to chat with if you have an issue with your policy or need urgent assistance.
  • Direct access to claim amounts – If you file a claim, the coverage amount approved will be directly deposited into your bank account.

Cons

  • Only available in Quebec – If you live in another province or territory other than Quebec, an auto insurance policy from Industrial Alliance will not be available to you.

How Do You Make A Claim?

If you ever find yourself in the position to file a claim after an incident, you should get in touch with Industrial Alliance as soon as possible to start the claims process. You can call their claims experts at 1-877-700-7778, and they will take you through the process. 

You can also start your claim online by submitting a few pieces of information, including the following:

  • Your full name
  • Date of birth
  • Contact information
  • Date and time of the incident

Once you submit your claim online, you will be contacted by a claims agent.

Bottom Line

There’s no getting around an auto insurance policy if you want to operate a car lawfully in Canada. But while you don’t have much of a choice in terms of having a policy in place or not, what you can choose is the insurance company to obtain your policy from, as well as the type of policy you take out. At Industrial Alliance, you’ll have plenty of options to choose from to personalize your policy to suit your needs and budget.

Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

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