Learn more about one of Canada's largest direct insurance companies. Offering auto and home insurance rates Canada wide.
What is TD Insurance?
Matt Hands, VP, Insurance and MoneySense
TD Bank (Toronto-Dominion) is one of the big five banks in Canada, and offers personal and business banking services, along with investment solutions. Its subsidiary, TD Insurance also offers a wide variety of insurance products, including auto insurance, home insurance, life insurance, and travel insurance.
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TD car insurance
As one of Canada's most popular insurers, TD Insurance offers several optional enhancements, so you can protect your vehicle against its unique risks.
TD car insurance optional coverages
Aside from the mandatory provincial requirements for your car insurance, TD also offers various optional coverages, including:
Optional coverage | Overview |
Comprehensive | Protects you from any insured damage done to your car that is not covered by collision insurance (e.g. fire, theft). |
Collision/upset | Covers the damage done to your car caused by another vehicle or an object, such as a tree. |
Specified perils | Covers you from the specified risks on your policy, such as a fire that spreads to your car. |
All perils | A combination of both comprehensive and collision insurance, plus increased protection against theft. |
Accident forgiveness | Prevents your rates from increasing after your first at-fault accident. |
Uninterrupted driving coverage | Insures your rental car for road trips within Canada and the US. |
Removing depreciation deduction | Covers the purchase price of your car, instead of its depreciated value in the event of a total loss. |
Types of TD auto insurance
TD offers auto insurance policies for various types of vehicles in Canada, including:
- Cars, vans, trucks, and SUVs
- Motorcycles
- All-terrain vehicles (ATVs)
- Snowmobiles
- Motor homes
TD car insurance discounts
The company also offers various discounts for drivers in Canada – here is a comprehensive list of ways you can receive a discounted premium when insured with TD:
Discount | Qualifications |
Multi-vehicle discount | If you insure two or more vehicles under TD auto insurance. |
Occasional student driver discount | If a listed driver on your policy studies full-time at an institution. |
Bundling discount | If you bundle your auto and home insurance policy under TD Insurance. |
Retiree discount | If you’re a resident in Ontario, aged 65 and up. |
Accident-free discount | If you’ve been collision-free for a certain period of time (depending on the province). |
Clean driving record discount | If you’ve been conviction-free for a certain period of time (depending on the province). |
Graduated licensing system discount | If you’ve recently progressed from one driver’s licensing level to the next in Ontario. |
Winter tires discount | If you install winter tires from December 1st to March 30th in Ontario. |
Hybrid/electric vehicle discount | If you drive a recognized hybrid or electric vehicle. |
First chance discount | If you’re a newly licensed driver with a clean driving record in New Brunswick, Nova Scotia, and PEI. |
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TD home insurance
TD Insurance also offers several enhanced options to meet your specific home insurance needs. Here are some unqiue policy extensions, so you can further protect your property.
TD home insurance optional coverages
On top of your basic home insurance coverage, TD also offers various optional add-ons to protect your property, including:
Optional coverage | Overview |
Above-ground water | Protects you from damage due to overland water flooding. |
Removing depreciation deduction | Allows you to choose between repairing your home and settling in cash without accounting for deprecation. |
Personable valuables/enhanced limitations | Increases coverage for your expensive contents, such as jewellery, wine, and art. |
Identity theft | Protects you financially for identity theft recovery and its related expenses. |
Personal umbrella | Increases your liability limits for both car and home insurance. |
Home-sharing | Covers you if you share your home as a short-term rental. |
Family coverage | Protects you against family situations, such as nursing home costs and cyberbullying. |
Eco-efficient rebuild | Provides increased coverage for eco-friendly rebuilds and upgrades after an insured loss. |
Claim forgiveness | Forgives your first claim, so your rates won’t increase after renewing your home insurance. |
Types of TD home insurance
TD offers property coverage for various types of homes in Canada, including:
- Home/house insurance
- Condo insurance
- Tenant insurance
TD home insurance discounts
The company also offers various discounts for homeowners and renters in Canada – here is a list of ways you can receive a discounted premium with TD Insurance:
Discount | Qualifications |
Multi-home discount | If you insure two or more properties under TD home insurance. |
Bundling discount | If you bundle your auto and home insurance policy under TD Insurance. |
Home security discount | If you have a connected alarm that detects risks, such as water damage, theft, or fire |
Newly built home discount | If your house is a recent build, you may receive a lower premium. |
Compare home insurance quotes to find your lowest rate
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Frequently asked questions about TD Insurance
Where can I get a TD insurance quote?
You can request a TD car or home insurance quote directly from TD's website. They can provide you with a quote for your auto and home online.
Where is TD Insurance available?
TD auto insurance is available in all Canadian provinces and territories with public car insurance – it is not available in BC, Manitoba, and Saskatchewan.
TD home insurance is not restricted by public vs private markets and therefore available all across Canada. The entire home insurance market is private - meaning consumers can purchase from who ever they want to.
How do I qualify for TD car insurance?
To qualify for TD car insurance, you need a valid driver's license, your vehicle must be for personal use, and you also need to be a Canadian resident. Additionally, you need to live and have your car registered in one of the provinces or territories where TD coverage is available.
Why would I be declined for TD car insurance?
TD may restrict auto insurance coverage in the following situations:
- You omit a key fact when applying for insurance
- You may have un-repaired damage to your car
- You lease or rent your car to others (i.e. Turo)
- You use your car for racing or in competition
- You failed to inform TD of a change in a factor relevant to your policy (e.g. vehicle modifications)
- You have multiple accidents or convictions on your record and are deemed a high-risk driver
- You have a past conviction for fraud or misrepresentation in the last 10 years
- You have a cancellation on your record for non-payment
How do I submit a TD Insurance claim?
You can submit an auto or home insurance claim using the TD Insurance app, or call the TD Insurance phone number at 1-888-773-7022.
Is TD Insurance considered a good insurance company?
TD Insurance has a long reputation of being a quality insurance provider in Canada. But with insurance it really depends on whether or not they're a good fit for you - i.e. your needs and driving profile.
The best insurer for you will be the one that meets all your coverage requirements for the best rate possible. To find the best rates for car insurance or home insurance , we recommend shopping around and comparing the market. Start with a quote from TD insurance and compare it to other top insurance providers in Canada to find your best rate.
Matt Hands, Business Director of Insurance
With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read full bio
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