Please contact your broker to change the frequency of your payments or your method of payment.
Whether your policy documents name Economical Insurance or Definity Insurance, you can continue to make payments the same way you do today. Your payment will be processed securely, and no action is required as we transition to the Definity Insurance brand.
You've got options
You can pay by credit card (Visa, MasterCard, or AMEX), cheque, money order, or through your bank or credit union.
Pay Online
To pay online with your credit card, simply fill out the form below. (We do not accept Visa Debit or MasterCard Debit cards.)
Pay by phone
To pay by phone with your credit card, call 1-866-858-4040 and follow the prompts using our self-serve payment option.
If you’re making a payment on a new policy and the number isn’t recognized, please try again tomorrow. It can take up to 24 hours before a policy is available for self-serve payment.
Make a Payment Faqs
If you're setting up online or telephone banking, continue to use the payee name currently listed by your financial institution.
As we transition to Definity Insurance, some banks may begin updating the payee name from Economical Insurance to Definity Insurance. If this happens, you don't need to make any changes to your existing payment setup. Your account information and payments will continue to be processed as usual.
Depending on where you are in the transition process, payments may appear on your statement as either Economical Insurance or Definity Insurance.
Both names are legitimate and associated with your insurance policy. If you see Definity Insurance on your statement, no action is required.
No. If you have pre-authorized payments set up, they will continue to be processed automatically on your scheduled payment dates.
As we transition to Definity Insurance, you may notice the payment description or transaction name change over time. Your banking information, payment schedule, and payment amount will remain unchanged unless you request a change to your policy.
No. Your existing payment plan, billing schedule, and any applicable payment agreements will remain the same.
The transition from Economical Insurance to Definity Insurance does not change the terms of your current policy. You can continue making payments according to your existing schedule.
No. Your current payment method and payment schedule will stay the same.
If you pay through online banking, you may see the payee name update to Definity Insurance over time. No action is required on your part.
When a monthly bank withdrawal is returned as NSF (non-sufficient funds), a special withdrawal notice is generated and sent to both you and your broker to tell you when the fee will be withdrawn from your bank account. The NSF fee withdrawal may be a separate withdrawal from your regular monthly withdrawal.
Depending on your provincial legislation and type of insurance, your policy may be cancelled if you have a second returned payment during the same policy term, or if you have a returned payment on the first payment of a new policy. Talk to your broker about your payment and cancellation terms.
When we calculate the premium amount for your policy, it’s based on a specific term and your payments are set up accordingly. When your policy is cancelled early, we’ll calculate the remaining premium you owe on a “short rate” basis (these rates are governed by statutory conditions and are registered with the government). The amount you’ll owe is based on the cancellation date and the actual number of days your policy was in force.