What is TD Insurance: Auto & Home Insurance | Ratehub.ca (2024)

Learn more about one of Canada's largest direct insurance companies. Offering auto and home insurance rates Canada wide.

What is TD Insurance?

What is TD Insurance: Auto & Home Insurance | Ratehub.ca (1)

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.

Compare car insurance quotes to find your lowest rate

In under five minutes, compare personalized auto insurance quotes from some of Canada’s top providers, free of charge.

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

In under five minutes, compare personalized home insurance quotes from some of Canada’s top providers, free of charge.

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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What is TD Insurance: Auto & Home Insurance | Ratehub.ca (2024)

FAQs

What is the meaning of TD insurance? ›

*TD Insurance refers to the following personal lines insurance companies: Security National Insurance Company, Primmum Insurance Company, TD General Insurance Company and TD Home and Auto Insurance Company, all of which are subsidiaries of the Toronto Dominion Bank.

Who underwrites TD insurance? ›

All TD Insurance group creditor insurance products, other than Business Credit Life Insurance, are underwritten by The Canada Life Assurance Company and TD Life, and are administered by TD Life and offered by The Toronto-Dominion Bank.

What is security national insurance in Montreal? ›

Security National Insurance Company operates as an insurance firm. The Company offers property and casualty insurance services.

What is the full meaning of TD? ›

Touchdown (abbreviated as TD) a scoring play in gridiron football. Tournament director (chess) or Tournament controller, the organizer and arbiter of a tournament, responsible for enforcing the tournament rules and the laws of chess.

What insurance company does TD Bank use? ›

Credit protection

Dismemberment coverage is underwritten by TD Life Insurance Company (TD Life). Life, terminal illness insurance is underwritten by The Canada Life Assurance Company and accident coverage underwritten by TD Life Insurance Company.

Why did my car insurance go up in 2024? ›

Your car insurance may have increased this year due to various factors, including inflation, higher repair costs and an increase in auto thefts in your area. Is it normal for car insurance to increase every year? It is normal for car insurance rates to increase every year.

How long has TD Insurance been around? ›

Since 1949, the year the company was created by Jean Meloche in Montreal, TD Insurance has worked with its university, college and professional association partners across Canada to develop tremendously effective and successful affinity insurance programs nationwide.

Who insures TD Bank? ›

All deposits and deposit products are FDIC-insured, up to $250,000 per depositor, per ownership category. That includes checking accounts, savings accounts, money market deposit accounts, certificates of deposit (CDs).

Can I cancel my insurance without a fee? ›

Just tell your insurance provider that you want to cancel and they'll arrange it for you. You'll probably have to pay a fee, which may be described as an administration, arrangement, processing or cancellation fee by your insurance provider. This fee can vary among providers and depending on when you cancel the policy.

How much is a cancellation fee for insurance? ›

Most insurance companies will charge you around 2-7% of your premium (usually they'll take the higher percentage amount if you're near the start of your term).

Is cancelling insurance easy? ›

Whether you're switching car insurance providers or selling your car, you can cancel your current insurance policy at any time. It's a simple process that typically doesn't take much time. That said, you'll need to consider the timing and potential fees before you terminate your insurance.

Does TD car insurance cover the USA? ›

If you will be traveling long-distances in Canada and the U.S., Grand Touring will nicely complement your car insurance. You're covered even if driving a rental car, and short distances.

What is TD my advantage? ›

The TD MyAdvantage program is a usage-based insurance savings program for Ontario and Quebec-based drivers that is 100% voluntary and free! It's designed to reward safe driving behavior - the safer you drive, the more you could save. The data collected will only be used to calculate your potential savings.

What does NIS mean in insurance? ›

National Insurance Services (NIS) Insurances. National Insurance Services (NIS) administers LCC's Basic and Supplemental Life, Accidental Death and Dismemberment (AD&D), and Long Term Disability (LTD) policies for all full-time employees.

What is TD in a company? ›

Headquartered in Toronto, Canada, with ~95,000 employees around the world, the Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD).

What is the meaning of TD in finance? ›

A Term Deposit (TD), also known as 'fixed deposit' is a deposit that is held at a financial institution for a fixed term. A fixed deposit account allows customers to deposit money for a set period of time, thereby earning a higher rate of interest in return.

What does the TD stand for in TD Bank? ›

On February 1, 1955, The Bank of Toronto and Dominion Bank merged to form Toronto Dominion Bank, but TD traces its roots back even further to the founding of The Bank of Toronto in 1855.

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