Auto Insurance for Professional Engineers in Ontario

While engineers, as a profession, have no particular driving needs substantially different from anyone else, they have industry associations. These associations provide added value by negotiating group benefits for their members. This is no different than, say, teachers’ associations or labour unions, who also negotiate deals for members. From a supplier’s perspective, these agreements provide exclusive exposure to large groups of potential clients through association publications and websites. Because a single group could potentially provide a large block of clients, suppliers offer discounts and special deals.

Insurance Benefits through Engineers Canada

With nearly 300,000 members, Engineers Canada provides an attractive base for suppliers offering group benefits. Engineering is a self-regulated profession, so membership in the association is an important accreditation for many engineers. The group provides positions and best practices for various aspects of the engineering profession in general. Undergraduate engineering programs through the country’s universities receive certification through Engineers Canada. The group promotes the profession and tracks industry statistics.

While many engineers work as employees, some are independent contractors with self-employed status. That portion of the profession may benefit most from the negotiated deals arranged by Engineers Canada, since they may not have typical group benefits programs that employees often enjoy.

The financial services support offered by Engineers Canada is substantial. Programs include:

  • Whole life insurance
  • Term life and accident coverage
  • Investment plans
  • Health and dental plans
  • Disability insurance
  • Business overhead insurance
  • Casualty insurance for home and auto
  • Car rental discounts
  • Pet health insurance
  • Professional liability coverage
  • Critical illness coverage
  • Health and dental coverage for retirees

Auto Insurance Benefits for Engineers

car repair

Engineers Canada members enjoy auto insurance preferred rates provided through TD Meloche Monex. The insurance arm of Toronto Dominion has provided insurance coverage for engineers since 1950. Engineers carry preferred client status as members of their supporting organization, so TD Meloche Monex provides online access to policies, on location damage appraisals and preferred service through a network of repair shops.

Rates for auto policies are exclusive to Engineers Canada members and policy terms remain flexible, so each member can customize coverage to meet individual needs. One of the big advantages is that replacement vehicle coverage up to $20,000 is provided at no cost, so a member need not worry about car rentals as their vehicle is repaired or replaced after an accident.

Homeowner’s insurance is also provided by TD Meloche Monex, so multiline discounts save additional amounts on bundled coverage.

Provincial Engineering Associations

Provincial engineering organizations offer benefits through the national organization, so the terms that apply to Engineers Canada are the same as those available to members at a provincial level. That is, an engineer is a member of both their provincial organization and the national body as well, as a single industry participant.

Due to public auto insurance programs, the TD Meloche Monex offerings are not available to those residing in British Columbia, Saskatchewan or Manitoba. While Quebec offers the mandatory portion of car insurance coverage through a public program, private companies provide optional coverage including collision and comprehensive plans, so engineers can purchase this insurance through the Engineers Canada program. Check out the insurance and financial services page at EngineersCanada.ca.

2018-09-15T12:58:24+00:00