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Founded in 1864 in Halifax, N.S., The Royal Bank of Canada (RBC) pre-dates Confederation. In 2016, it was Canada’s second-largest corporation by revenue, bringing in an estimated $42-billion. The bank has headquarters in Toronto and Montreal.
Auto insurance from RBC is available in all provinces and territories except British Columbia, Manitoba and Saskatchewan. Its products are distributed by RBC Insurance Agency Ltd. and underwritten by Aviva General Insurance Company.
RBC has a sizeable footprint in the Canadian auto insurance market, though it’s dwarfed by its health and life insurance products.
| Province | User satisfaction rating |
|---|---|
| Alberta | — |
| Atlantic | — |
| Ontario |
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| Quebec | — |
Bundling your home and life insurance with your auto insurance could net you a discount. Getting a quote from RBC online could also qualify you for a 5% discount. Other ways to earn a discount with RBC include:
RBC employees receive significant discounts — up to 25% on car insurance and 10% on home insurance — and could qualify for more depending on eligibility.
Unlike many of its car insurance competitors, RBC does not offer usage-based auto insurance, or any other optional programs that make it stand out on the innovation front. However, policyholders can still customize their policies by purchasing optional add-ons:
Family protection endorsement - If you or a member of your immediate family is injured or killed by an uninsured, underinsured, or unidentified at-fault driver, the benefit you receive will be significant — up to the limits of your financial coverage, according to the company.
Waiver of depreciation endorsement - If your new car is lost or damaged within the first two years, RBC will give you a benefit based on the sales price and won’t factor in depreciation.
Forgiveness for the first at-fault accident - Your premium won’t increase after your first accident with this rider.
RBC does not currently offer an app for car insurance.
The best way to submit a claim with RBC Insurance is to call the toll-free line, where you’ll be connected with a claims advisor.
RBC offers a variety of insurance products that you can bundle with an auto insurance policy including:
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