We Recommend Hiscox
Canal Insurance sells products for fleets of all sizes. It also offers coverage for specialty vehicles like buses, limousines, and airport shuttles, although it does not insure taxis.
Canal is privately owned and employs a small staff of less than 500. In May of 2014, A.M. Best gave it a “negative” outlook, which shows the company may be having some financial difficulties.
Canal Insurance sells several types of commercial auto coverage for vehicles, particularly those used for transit or hauling goods. Different packages are available for different fleet sizes, allowing companies to customize their coverages.
Liability coverage is offered for property and injuries, including Truckers General Liability, with limits up to $2 million, and non-owned auto coverage. Policies can also cover damages to the vehicle itself.
Additionally, Canal Insurance offers some coverage for contractors like landscapers, plumbers, HVAC repair companies etc. These plans help offset some of the specialized risks faced by this type of company as workers drive to and from jobs.
Canal does not sell private auto insurance.
Policies are sold through agencies, and there is no way to obtain a quote or policy online or through a customer service number. You can find an agent by clicking Find an Agent towards the bottom of the webpage, there is also an agent link under the “Contact Us” tab.
From the main Canal Insurance webpage, click Report a Loss to be taken to the online claims form. The form is brief and will allow you to input the necessary information and have an adjuster contact you to follow up.
In certain situations, such as those involving a fatality or serious injury, you should call the claims hotline instead at 800-452-6911.
Although Canal Insurance is not BBB accredited, it currently has a “B rating” on the Better Business Bureau site. There have been five complaints filed in the last three year, two of which have been closed in the past 12 months. The BBB states the reason for the less than appealing rating is because of five complaints filed against the business and the failure to be transparent about ownership, location, or products/services offered.
We were unable to find much in the way of consumer reviews on Canal, probably because it’s a business-to-business insurer. It also has a fairly small web presence: Although the main website is well-designed.
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Canal offers a specialty product, and people with freight businesses may find that it’s a good choice. The company’s financial difficulties in recent times may be a point of concern, though; it’s worth looking at the A.M. Best report and deciding for yourself if you’re willing to take any risks.
For a list of companies that we recommend, visit our Best Insurance Companies page.