Economical Insurance (Definity): who they are, in plain facts

A neutral profile of Economical Insurance (Definity): when it started, where it is based and where to find its own claims and complaint information. AdvisorPro is not connected to Economical and does not rate, rank or recommend insurers.

At a glance

Started: 1871, as Economical Mutual Fire Insurance Company of Berlin (now Kitchener), Ontario. Its first policy was issued on November 25, 1871
Head office: Waterloo, Ontario
Owned by: Definity Financial Corporation, which became a public company in 2021. Economical began as a mutual company, owned by its policyholders
Names you may see: Economical Insurance, Economical Select, Perth Insurance, Vyne and, since 2026, the Definity Insurance name. Definity's other insurance brands include Sonnet Insurance

A short history

1871: Founded in Berlin (now Kitchener), Ontario.
1997: Western General amalgamates with Economical.
2015: The process of demutualization (becoming a company with shareholders) begins.
2018: Launches Vyne.
2021: Parent company Definity Financial Corporation becomes a public company, in the company's 150th year.
2026: Begins the move to the Definity Insurance name.

You may see either the Economical name or the Definity name while the change is under way. Check the exact company named on your policy.

Dealing with Economical

Claims, questions and changes. Use the phone number, website or app on your policy documents. If you bought through a broker or an agent, they can also help you start a claim or make a change.
A complaint. Start with Economical's own complaint process, which you can find on its website or in your policy documents. If it is not resolved, there are independent bodies you can turn to. See where insurer complaints data and help live.
Official website: economical.com

Before you choose any insurer

Find out how the company is rated for financial strength, and what that does and does not tell you: how to read a financial-strength rating.
Read the policy wording, not only the summary: how to read your policy.
Check that whoever sells or advises on the policy is licensed: check an advisor's licence.
Ask an advisor which insurers they can offer and how they are paid: questions to ask an advisor.

Where these facts come from

Companies change names, owners and brands over time, so confirm anything that matters to you on the company's own website or in your policy documents. This page uses the name only to say which company it is about.

Common questions

Is Economical a good insurer?

AdvisorPro does not rate, rank or recommend insurers, and no single company is the best choice for everyone. What matters depends on your situation: the cover you need, the policy wording, how you want to deal with the company, and its financial strength. Our guides explain how to look at each of those.

Is AdvisorPro connected to Economical?

No. AdvisorPro is not affiliated with or endorsed by Economical, and it does not sell insurance. Company names are used only to say which company a page is about.

Can I get a policy from Economical through AdvisorPro?

AdvisorPro is not an insurer and does not sell policies. It can connect you with a licensed advisor, who can explain which insurers they work with and what each one offers.

More in Insurance companies in Canada: plain facts

General information, not advice or a recommendation. Rules differ by province and by insurer, so confirm with your insurer or a licensed advisor. This page was last checked in November 2026.