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RBC Auto Insurance Review

RBC's Rating
  • Financial Strength
  • Services Offered
  • Customer Service
  • Insurance Rates
4

Carsurance Verdict:

Competitively priced and well-supported by a reliable customer service team, RBC insurance products are available in all but three Canadian provinces. However, a dedicated car insurance mobile app is missing. If you can live with that, you cannot go wrong with RBC.

Pros

  • Affordable rates
  • Quality customer service
  • Anonymous claims advice
  • Preferred vendor program

Cons

  • No usage-based auto insurance
  • No dedicated car insurance mobile app

Founded in 1864 and headquartered in both Toronto and Montreal, the Royal Bank of Canada (RBC) is one of the country’s biggest corporations based on revenue. RBC Insurance is the brand name of insurance entities operated by RBC. Car Insurance from RBC is available across Canada, except for Saskatchewan, Manitoba, and British Columbia. RBC’s auto insurance policies are underwritten by Aviva General Insurance Company and distributed by RBC Insurance Agency Ltd.

To determine the quality of its auto insurance, we studied a number of RBC reviews from experts and customers alike. We also checked how RBC auto insurance compares to the competition on important factors, such as affordability, customer service, range of features, financial strength, and online tools.

Read on to find out RBC’s strengths and weaknesses and whether it is the right choice for you.

Product Overview

RBC enjoys a great reputation in the industry and comes across as a pocket-friendly, customer-oriented, and financially stable auto insurer. It offers a wide range of features to Canadian drivers, such as the ones listed ahead.

Features

Easy, Hassle-Free Claim Process

Making a claim with RBC is pretty straightforward. Simply dial the RBC auto insurance phone number 1-800-769-2526, and a knowledgeable claims advisor will guide you through the whole process. The lines are open 24/7.

Deductible Rewards

For every year you go without a claim, RBC will lower your auto insurance deductible by $50. The maximum reduction is capped at $250 per policy.

Valet Service

If you have opted for the valet service, RBC will make arrangements to pick up your vehicle should it get damaged in a road accident and bring a rental car to a preferred location. After repairs, RBC will ensure your car is delivered and the rental vehicle returned.

Online Tools

Want to purchase RBC insurance online? That’s no problem. RBC boasts a quick online quoting tool, which hands out a quote in a jiffy. The website too is neatly-organized and easy-to-use. However, there’s no dedicated car insurance mobile app (as of yet), which might disappoint tech-savvy users who like to do things on-the-go.

Classic Car Insurance Program

When you own a super-cool car, like the 1960s Jaguar E-Type, the 1967 Chevy Corvette, or any pre-1974 Porsche 911, you probably would like to do everything you can to safeguard your investment. Guess what, RBC’s Classic Car Insurance Program helps you do just that.

RBC Car Insurance has joined hands with Hagerty to offer you quality and customizable insurance for your collector vehicle at affordable rates. This specialty policy is packed with useful features, such as guaranteed value coverage, flexible usage, competitive premiums, and more.

Anonymous Claims Advice

Not sure if you should file a claim? Speak to an expert and get free advice without having to disclose your name or policy number by calling this RBC auto insurance number: 1-866-953-8285.

Signature Feature — Preferred Vendor Program

RBC promises high-quality workmanship and a hassle-free claim experience if your car is damaged due to a covered risk. When you pick a Preferred Vendor, the insurer will monitor the quality of the repair work and settle the bill directly with the repair centre. Additionally, RBC also provides a lifetime guarantee on these repairs, provided you are the owner of the vehicle.

Financial Strength

The financial strength of RBC Car Insurance is “excellent” (“A”), according to the rating agency A.M. Best. This indicates that the insurer has a strong ability to pay claims.

Types of Insurances Offered

RBC provides all coverages standard in the Canadian auto insurance industry, such as third-party liability coverage, collision or upset coverage, comprehensive coverage, accident insurance coverage, direct-compensation property damage (DPCD) coverage, and uninsured motorist coverage. In addition to these, RBC General Insurance offers a wide range of optional coverages.

All Perils Coverage

This coverage combines Collision and Comprehensive coverage. Furthermore, it protects you against losses or damage in case your car is stolen by someone who’s working for or living with you.

Specified Perils Coverage

Do you want to save on All Perils Coverage, but still receive outstanding protection? Then this is the way to go. Choose from a list of specific causes of damage such as fire, theft, and flood, to create a policy that’s custom-tailored for you.

Family Protection Coverage

RBC Auto Insurance, like some other top-ranking Canadian car insurers such as The Personal, offers the family protection endorsement which supplements the uninsured motorist coverage that you receive with your car insurance policy.

This optional coverage provides financial protection up to the limits of your liability coverage in case you, or someone else in your family, is killed or injured in an accident caused by an uninsured or underinsured driver.

Depreciation Waiver Coverage

According to RBC Insurance reviews, the insurer will waive off its ability to apply depreciation to your new car for 2 years. In simple words, this means that RBC will write you a cheque for the value of your new car, minus any deductible, if it is totalled within 2 years of purchase. In case of a partial loss, the insurer will pay you the full value of the new and original parts, minus any deductible.

Loss of Use Coverage

RBC Insurance will pay for a rental car or transportation costs up to the limit while your car is being repaired due to a covered risk.

Accident Forgiveness

This is one optional coverage that most top Canadian auto insurers offer, including RBC. Add it, and your premium will not increase after your first at-fault accident.

Satellite Program Endorsement

Planning a long road trip? Then you might want to check out this optional coverage from RBC, which offers a range of emergency roadside assistance services, including flat tire service, towing, fuel delivery, battery boast, and more.

RBC Auto Insurance Customer Service Ratings

RBC’s customer service ratings are a mixed bag. The insurer features only in J.D. Power’s 2019 Canada study for the Ontario region, where it puts in a good show. It got a four-star rating and the 3rd rank overall among 12 participants reviewed in Ontario.

However, the Better Business Bureau (BBB), a non-profit organization that analyses how businesses interact with their customers and handle complaints, is less generous. It gave Royal Bank Car Insurance an average rating of “B-”.

On the other hand, RBC’s reviews on InsurEye have an unmistakable negative bias. This, however, is true for all big Canadian insurers, as customers are more likely to take time out of their busy schedule and leave a review online when they have an axe to grind.

In the end, we would put our trust in J.D. Power’s ratings and proceed as if RBC provides reliable customer service.

Available Discounts

RBC offers Canadian drivers multiple ways to save on their car insurance. Depending on your province, some discounts — such as a no claims or experienced driver discount — may get automatically applied to your RBC auto insurance quote. In other cases, you can qualify for available discounts by taking the necessary steps.

Multiple Vehicle Discount — You can net a substantial discount by insuring two or more vehicles with RBC.

Winter Tire Discount — Did you know that winter tires can significantly reduce the risk of a road accident in bad weather? What’s more, they can also shave precious dollars off your insurance premium. So any way you cut it, installing winter tires during the cold season is a smart thing to do.

Bundle Discount — Combining RBC home and auto insurance can score you a discount on both policies. You can also save money by bundling auto insurance with a condo or renters insurance policy.

Retiree Discount — If you’re a retiree, you may qualify for a discount on your car insurance.

Anti-Theft Discount — You can earn a discount if your car has an RBC-approved anti-theft alarm system.

RBC Employee Discount — Are you an RBC employee in Canada? Congratulations! The RBC car insurance quote just got cheaper for you. The insurer offers a rebate of up to 20% on auto insurance to all its Canadian employees.

No-Claims Discount — Most auto insurers in Canada reward good drivers with a dip in their premiums, and RBC is no exception. If you haven’t filed a claim for a certain number of years, expect a handsome discount on your car insurance.

Online Quote Discount — RBC will take 5% off your monthly insurance bill if you get a quote online.

RBC Car Insurance Rates Comparison

RBC’s website proudly claims that it offers affordable coverage for your personal vehicles.

That’s all good and dandy, but the real question is — how much truth is there to this claim?

We decided to look under the hood and put the RBC’s online quoting tool to the test. We found its rates to be in the middle of the price scale and not the cheapest around.

Premiums of RBC Car Insurance compared to its main competitors in Toronto

In Toronto, at $344 a month, the RBC quote was priced 37% higher than the most affordable option in the city, The Personal, and 44% lower than the most expensive insurer, TD Insurance. The narrative was similar in other cities as well.

Premiums of RBC Auto Insurance compared to its main competitors in OttawaOur referenced driver was a 40-year-old single male with a clean record and driving a 2018 Honda Civic SE, averaging 15,000 km per year.

RBC Insurance Compared to Its Main Rivals

RBC vs. Desjardins Insurance

RBC is not as big a player in the Canadian car insurance industry as Desjardins, the 4th largest auto insurer in the country. Given this, the fact that the latter has a better record in the financial health department doesn’t come as a surprise. It earned the the outstanding “AA1” rating from Moody’s and excellent “A+” from S&P, while RBC achieved “A” from A.M. Best.

Desjardins is cheaper than RBC in most cities, although usually not by much. However, Its performance in customer service is a real bummer. It came dead-last in 2019’s J.D. Power Canada Study for the Ontario region, compared to RBC’s third rank. Thankfully, Desjardins fares marginally better in Quebec, coming seventh out of 10 insurers.

Because of Dejardins’ insipid record in customer service, you may want to consider RBC Insurance Canada first. However, if the price difference between the two is significant, Desjardins may be worth a shot.

RBC vs. Aviva Insurance

Both RBC and Aviva project themselves as an affordable car insurer, but which one is cheaper?

Aviva beats RBC on price in most cities. That said, just like Desjardins, its rates are only slightly better than RBC.

However, Aviva’s record in customer service is way poorer than RBC’s. While RBC Insurance reviews reveal that it earned four stars, ranking third in the J.D. Power’s Canada study for Ontario, Aviva came third-last with just two stars. In fact, Aviva couldn’t go past two stars in any of the other three major regions or provinces in Canada — Alberta, Quebec, and the Atlantic region.

When it comes to financial strength, there’s absolutely nothing to choose between the two. Both received an “A” rating from A.M. Best. However, unlike RBC Car Insurance, Aviva does offer ride-sharing insurance coverage. Car owners who use their personal vehicle for Lyft in Ontario can buy ride-sharing insurance from Aviva, which covers them the moment they log into the Lyft app up until all passengers exit their vehicles.

Overall, even though Aviva is cheaper than RBC, we recommend the latter on the back of its solid customer service record. However, if you need Lyft ride-sharing coverage, Aviva might just be the one for you.

RBC vs. Intact Insurance

RBC Auto Insurance is easier on the pocket than Intact. It also does better in customer service. For instance, RBC got four stars in 2019’s J.D. Power Canada Study for Ontario, whereas Intact could only manage three. In fact, apart from the Atlantic region, where Intact notched up an impressive 4-star rating, its customer service ratings are just about average, receiving three stars in Quebec and just two in Alberta.

Nonetheless, Intact enjoys a definite advantage over RBC General Insurance Company in the financial strength department. A.M. Best awarded it the second-highest rating of “A+” while RBC got an “A.” Intact also holds an edge when it comes to ride-sharing and car-sharing coverages. Unlike RBC, it provides Uber ride-sharing and Turo car-sharing insurances. Turo is an online rental system that helps you turn your car’s idle time into paid time.

All in all, place RBC Auto Insurance ahead of Intact in your list if you want an affordable, customer-friendly insurer. If you’re looking for Uber ride-sharing or Turo car sharing coverage, go with Intact instead.

Best Alternatives

If you want the most affordable policy in Canada, start your search with TD Insurance. However, mind you, its record in customer service is nothing to shout about. The Co-Operators boasts of the best customer service, but it is a tad more expensive than RBC vehicle insurance. In contrast, The Personal is affordable and has a decent track record in customer service, but it’s only available through group programs. If you want a ride-sharing coverage, choose Intact or Aviva, depending on whether you use Uber or Lyft. Sonnet, on the other hand, can be a good fit if you are the type who likes an insurer with great online tools.

Perhaps the best course of action would be to get an RBC insurance quote and compare it with that of its rivals. Only then will you be sure that you’ve got the best possible bang for your buck.

Our Expert Verdict

RBC is undoubtedly an appealing option. It almost delivers the total package when it comes to affordable premiums, quality customer service, and reasonably strong financial standing. However, the insurer doesn’t offer usage-based car insurance or a dedicated auto insurance mobile app. Still, RBC deserves a spot near the top of your shortlist.

Frequently Asked Questions

1. Is RBC Insurance Aviva?

In 2016, Aviva Canada acquired RBC General Insurance Company through a $582 million deal. Both of them have also signed a 15-year strategic contract, according to which Aviva will take care of the policy administration of claims while RBC customers will get access to the full suite of Aviva’s P&C products.

2. Does RBC handle car insurance?

Yes, it does. While it is mostly known for its financial services, RBC Insurance, auto, home, life and more, can provide answers to all your insurance needs.

RBC offers car insurance at affordable rates and has good footing financially, all the while excelling in the customer service department. You can buy all standard coverages from it, such as third-party liability, collision or upset, comprehensive, etc. It also provides a range of add-ons for additional protection, such as all perils/specific perils coverage, family protection endorsement, depreciation waiver endorsement, and more.

3. Does RBC Insurance have accident forgiveness?

Yes, it does. RBC’s Accident Protection endorsement helps you protect your driving record and keep your car insurance premium low. The insurer will act as if your first at-fault accident never happened.

4. Does RBC also cover rentals with its car insurance?

Yes, it does. In case you are renting a car, you should consider buying RBC’s Rental Car Physical Damage Insurance. It provides protection for up to $50,000 if the rented vehicle gets damaged or stolen.

5. How to cancel RBC insurance?

You can cancel your car insurance anytime by calling RBC at 1-800-845-9750.

Nikola Djurkovic

Nikola Djurkovic is the Editor in Chief at Carsurance.net and PolicyAdvice.net. He has worked in the insurance industry as an assistant underwriter, and through his experience, he learned the inner workings of insurance policies, from quotes to renewals—becoming a real insurance guru. He’s passionate about helping other people navigate the complex structures of insurance coverage and understand its intricate terminology. He is also an avid reader, movie/series binge-watcher, and nature enthusiast.

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