Northbridge Insurance Review

Northbridge Insurance Review

Written by Priyanka Correia
Fact-checked by Caitlin Wood
Last Updated July 6, 2021

Northbridge Insurance is a Canadian insurance company based in Toronto, Ontario. It’s the predominant subsidiary of Fairfax Financial Holdings Limited in Canada. 

The company currently has offices in 4 areas across the nation, including Ontario, Quebec, Atlantic Canada, and Western Canada and provides customers with a number of insurance products. 

Northbridge Insurance is dedicated to helping Canadians protect their most valuable assets, including their home, cars, and businesses.  As such, they offer products that can be tailored to your specific needs to ensure adequate coverage. 

Already have home insurance and looking to cancel it? Check how here.

Let’s take a closer look at Northbridge Insurance to help you determine if your insurance policies should be purchased from this insurance provider.

Types Of Insurance Offered By Northbridge Insurance 

Northbridge Insurance offers the following types of insurance products:

Business Insurance

If you own and operate a business, you should seriously consider having a business insurance policy in place. This will ensure that your company will be protected from losses as a result of interruptions in service in the event of the death of a key owner, partner, or employee. Plus, business insurance can protect you against any litigation stemming from liability on your part. 

Are you a business owner? If yes, you should check out life insurance for business owners.

Auto Insurance

In Canada, an auto insurance policy is mandatory in order to lawfully operate a vehicle on Canadian roadways. The repercussions of not having a valid insurance policy in place when driving can land you in legal hot water. 

While there are standard policies in place that protect you against liability, damage caused to another vehicle, and injury caused to another person involved in an accident with your car, there are also additional options you can choose to provide you with more comprehensive coverage.

See how to save money on car insurance.

Home Insurance

If your home is mortgaged, your lender will require that the property is covered under an insurance policy. With home insurance, you can be protected against damage to your home, as well as damage or theft of contents within the home. Like car insurance, you can customize your home insurance policy to ensure that you have adequate coverage. 

Is it beneficial to bundle your home and auto insurance? See here.

Business Insurance 

When it comes to business insurance, there is no one-size-fits-all solution. Instead, your business needs a tailored policy. And Northbridge Insurance offers a number of business insurance options, including the following:

Manufacturing And Resources

If your business is in the manufacturing industry and has heavy machinery and supply chains involved, a manufacturing and resources insurance policy can offer you the protection you need. Under this branch, you can choose from any one of the following to suit your business’s needs and risks:

  • Auto part insurance
  • Commercial printing insurance
  • Concrete manufacturers insurance
  • Food and beverage insurance
  • Livestock farmers insurance
  • Machinery and equipment manufacturers insurance
  • Metal manufacturers insurance
  • Seed and produce farmers insurance
  • Wholesalers’ insurance

Construction And Contracting

Contractors and others in the construction industry may need more than just a standard business insurance policy, Instead, a construction and contracting policy may be warranted. Northbridge Insurance offers the following:

  • Construction insurance
  • Construction project insurance
  • Contractors’ insurance
  • General contractors insurance
  • Trade contractors insurance

Transportation And Logistics

As a business in the transportation industry, you have liabilities that the average business doesn’t have. To mitigate issues that your business may face, you can choose from any one of the policies that fall under this umbrella through Northbridge Insurance: 

  • Insurance for dry vans
  • Insurance for livestock transport
  • Tanker insurance
  • Flatbed trailer insurance
  • Oversize trailer insurance
  • Insurance for temperature-controlled trailers
  • Insurance for auto haulers

Health, Education, And Social Services

An insurance policy from Northbridge Insurance is backed by experienced and specialized Risk Services experts who can help you reduce your risks in the health, education, and social services sector while keeping your insurance costs low.

Consumer Business Services

Businesses operating within the service sector must deal with risks that other businesses in other industries might not face. What you need is a policy that can respond to issues at any phase of service and in various circumstances. At Northbridge Insurance, you have the following policies available to you:

  • Retail insurance
  • Insurance for service providers
  • Insurance for professional services
  • Insurance for passenger transport services

Depending on which industry your business falls in, you may want to take out a combination of insurance products that can adequately protect your business, including the following:

  • Cyber risk insurance
  • Professional liability insurance 
  • Property insurance
  • Commercial automobile coverage
  • Business income insurance
  • Equipment breakdown coverage
  • Commercial general liability (CGL)

Auto Insurance 

Driving a car requires an active auto insurance policy in place. The rate you pay will depend on a number of factors, including the amount of coverage you require. 

To determine a fair rate, Northbridge Insurance has devised a unique type of rating structure that combines the number of years you’ve been driving with the number of years you’ve had a clean driving record. By considering these factors, you’ll get the lowest possible price for a policy. 

Northbridge Insurance offers the following options to make sure you are paying the lowest price without sacrificing coverage:

Multi-Vehicle Discount

If you have more than one car insured with Northbridge Insurance, you may qualify for a multi-vehicle discount.

Personal Choice

Take advantage of savings by adding a home insurance policy to your account.

Driving Record Protection

For an added fee, you can ensure that your driving record will not be affected after you get into your first accident that is deemed your fault. 

Home Insurance

Whether you own a house, condo, investment property, or vacation home, a home insurance policy can protect you against damage to the property as well as specific contents within it. Northbridge Insurance offers 3 levels of home insurance coverage:

Home Insurance

Customize your home insurance coverage with a policy that offers benefits such as:

  • Guaranteed replacement cost
  • Coverage for students and their belongings when they’re away at school 
  • Special limits options for high-value items like jewelry, collectibles, or bicycles.
  • Jewelry coverage based on the appraised value

Platinum Insurance

If you’re looking for something a little more comprehensive than a standard policy, then the platinum insurance policy may be best suited for you. With this policy, coverage guarantees that a claims settlement will be based on guaranteed replacement cost with a built-in cash option in the event that your home is deemed a total loss. Other benefits of this policy include: 

  • Higher special limits for items like valuable jewelry or silverware
  • An increased liability limit up to $2 million 
  • Identity theft recovery to reimburse you for expenses incurred when trying to recover your identity
  • By-law protection against increased costs from zoning, repair, demolition, or construction of buildings

Northbridge Insurance Onyx

For the ultimate in coverage, consider the Onyx insurance policy from Northbridge Insurance. This policy will provide coverage for things that matter most with focused coverages. You’ll get unlimited replacement cost coverage for your home and its contents as well as enhanced household protection to protect against a debilitating injury or loss of life.

A Northbridge Insurance Onyx policy includes the following coverage:

  • Artwork up to $100,000
  • Jewelry up to $50,000
  • Equipment breakdown up to $50,000
  • Alcoholic beverages up to $25,000

How Do You Make A Claim With Northbridge Insurance?

If you are ever in the unfortunate situation where a claim must be filed, you can do so by following these steps:

  1. Call your insurance broker. Provide all the information you can, including a list of all damaged items, photos, receipts, and anything else that can help provide them with the data needed to accurately assess the cost of the damage. 
  2. Wait for the claim to be reviewed. Once your broker has all the information needed to start the claim process, it will be reviewed by an adjuster dedicated to your case. Any additional information will be collected as required. The adjuster will compare the details of the loss incurred with what your policy covers to make sure that you get what you are entitled to. 
  3. Await payment. If your claim is approved, you will be paid out according to the assessed damages. Your dedicated adjuster will work with you to arrange to have your payment sent to you in the way that is most convenient. 

Benefits Of Using Northbridge Insurance

There are a handful of benefits of using Northbridge Insurance as your insurance provider:

Variety Of Insurance Products

While there is no life insurance policy available, Northbridge Insurance does offer other pressing types of insurance: home, auto, and business. And within these umbrellas of insurance, there are plenty of options to choose from to help you customize your policy according to your needs. 

24/7 Claims Support

No matter when an incident occurs, you can call Northbridge Insurance around the clock.

Resource Centre

To help you get familiar with insurance, Northbridge Insurance offers a resource centre online that features a number of educational articles for your perusal.

Social Outreach

If you’re the socially conscious type, then you’ll appreciate the fact that Northbridge Insurance is heavily involved in social outreach programs to help communities across the country.

Final Thoughts

There are several insurance companies in Canada to choose from, and Northbridge Insurance is one more to add to the list. If you’re looking for a comprehensive auto, home, or business insurance policy, Northbridge Insurance may be worth taking a closer look at.

Priyanka is a personal finance expert at Loans Canada. She is passionate about money management and educating Canadian consumers about how to take control of their financial lives. She has taken financial control of her life by using Mint to budget and track her expenses while growing her wealth by investing through Wealthsimple. She also believes in having an emergency fund, so she keeps a good sum of money in an easily accessible high-interest savings account. She also uses the American Express Cobalt Card to earn points on all her purchases, further fueling her savings goal. She also uses Loans Canada’s lender directory whenever she wants to compare rates from different lenders.

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