RBC vs Allstate: Which Bank-Related Insurer Gives the Best Rates?

As car insurance premiums continue to climb across Canada, drivers are more motivated than ever to hunt for coverage that offers both value and protection. Two names often at the top of the list are RBC Insurance and Allstate Canada. While RBC brings the credibility of a major Canadian bank, Allstate has long-standing experience as a dedicated insurance provider. But when it comes down to your wallet — who actually saves you more?

Let’s break it down, point by point.

Average Premiums: Who’s More Affordable?

When comparing the cost of car insurance in Canada, context is key — premiums depend on age, location, driving history, and vehicle type. According to Ratehub, the average premium in Ontario is around $1,655 per year, but this can vary widely.

RBC tends to offer competitive rates for bundling customers, especially if you already bank with them.
Allstate offers better rates for low-mileage or retired drivers, and their “Drivewise” usage-based program rewards safe driving habits.

To get a more tailored idea, use a tool like LowestRates.ca to compare in real-time.

What’s Covered? Standard & Optional Protections

Both insurers offer standard packages that include:

Third-party liability
Accident benefits
Collision and comprehensive coverage

Allstate stands out with customizable add-ons like disappearing deductible and ticket forgiveness. Meanwhile, RBC offers easy online bundling for home and auto, which can simplify your insurance management if you’re already an RBC client. Check out RBC’s Auto Insurance Features for full details.

Discounts That Matter

Everyone loves a good discount — especially when it saves hundreds annually.

RBC Discounts:

Multi-vehicle
Home + auto bundle
Safe driving record

Allstate Discounts:

Drivewise telematics
Retiree and student discounts
Loyalty rewards

Allstate’s Drivewise Program could be a game-changer for careful drivers who want their habits rewarded in real time.

Claims Experience & Customer Support

Reviews on InsurEye show Allstate has a slight edge in claims satisfaction, especially for speed and agent responsiveness. However, RBC excels in bank-integrated service, offering seamless support if you’re already a banking client.

Allstate has a 24/7 claims hotline and easy online reporting.
RBC offers Claims Tracker via their customer portal.

Digital Tools & Mobile Apps

In the age of smartphones, managing insurance through an app is no longer optional — it’s expected.

Allstate’s Mobile App offers bill payment, digital pink slips, and accident tools.
RBC’s Insurance Dashboard integrates with online banking, offering a clean and secure experience.

Availability by Province

Both RBC and Allstate offer car insurance in most provinces, including Ontario, Alberta, and the Atlantic region. Quebec residents may find fewer digital options available, especially from Allstate.

Tip: Use Rates.ca to check provider availability in your postal code.

Final Verdict: Which One’s for You?

Both RBC and Allstate bring serious advantages to the table. RBC is ideal for those already banking with them who want a no-fuss experience. Allstate shines for proactive drivers who’ll benefit from digital tools and deeper discount options.

Ultimately, the right choice comes down to your driving habits, province, and personal needs.

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