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As a subsidiary of the Toronto-Dominion (TD) Bank Group, a leading financial institution in both Ontario and Canada, TD Insurance is one of the top three personal home and auto insurance groups in the country. It offers products across the general insurance and life and health insurance sectors, including the following:
Serving over 1.2 million auto and home insurance customers across Canada, TD prides itself on connecting customers to the best solutions for their needs for an affordable price. As part of this effort, it has created an insurance disclosure document that shows how much its representatives are compensated, allowing customers to know exactly what they’re paying for.
Read on to learn more about TD Insurance and see if it suits your needs. Alternatively, you can shop around for the cheapest premium by comparing car insurance quotes for free from over 50 providers with RATESDOTCA.
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If you’re planning to purchase car insurance from TD in Ontario, here are some of its biggest features:
Also known as the ‘declining’ or ‘disappearing’ deductible, this free insurance endorsement allows you to drop your deductible by 10% every year, as long as you remain claim-free. For instance, if your deductible is $500 (which is the typical amount), then after your first claim-free year, your deductible would go down to $450. After the second year, it would go down to $400, then to $350 in the year after and so on – until it goes down to $0. The lower the deductible, the less you have to pay out of pocket should something happen to your vehicle.
There are several caveats, however. Firstly, this feature will apply only for as long as you remain claim-free. Once you make a claim, your deductible will go back to its original amount at the next renewal. Secondly, this applies only to Collision or All Perils coverage with deductibles of $500 or lower. And lastly, events like glass breakage of $200 or less, not at-fault collision or hit and run will not be considered a claim.
TD MyAdvantage is a usage-based app for your smartphone that allows you to save up to 25% on your premium – as long as you drive safely. Once you install and log into the app, it will begin capturing your driving data on each trip. This includes your GPS locations, mileage and driving behaviour, such as your speed, acceleration, turning and braking. Based on this information, you will receive a driving score that TD will use to calculate your premium discounts. The safer you drive, the greater the discounts will be. You start out at 10% just by enrolling in the app.
Additionally, the app includes tips and advice based on your driving habits that may help you become a safer driver. You can also earn badges by completing challenges that test how safely you drive.
TD Accident Forgiveness is an add-on to your car insurance that will protect you from an at-fault or partially at-fault accident, provided it’s the first accident in the last six years. Basically, TD Insurance will ‘forgive’ the accident by not increasing your premium upon renewal. The feature applies on a per vehicle basis and works for cars, motorcycles and motorhomes.
To be eligible, you must have car insurance with TD and be accident-free for the last six years.
Grand Touring is a good add-on to your car insurance, if you plan on driving over long distances in Canada and the US. If you get into an accident, or if your vehicle is either stolen or vandalized somewhere in the US or Canada, this will cover you for the rental of a replacement vehicle.
To be eligible, you have to have car insurance with TD. This applies to private passenger cars only.
If you drive a hybrid or electric car – a vehicle that’s considered ‘green’ – then you may be entitled to a special discount. It’s a way for TD to reward individuals for contributing toward reducing both smog and greenhouse gas emissions. The discount is applied automatically on new policies, vehicles or substitutions. If it’s an existing policy, the discount is applied upon renewal.
MyInsurance is TD Insurance’s online portal that allows you to update your home and auto policies, add or change vehicles and drivers, update your billing information, such as your credit card details, and pull up your insurance documents, including your pink card. You also get the benefit of using the TD Insurance app, which provides the same benefits, but on the go. One of the most important benefits of MyInsurance is that it allows you to go paperless. You can even download your pink card to your smartphone.
TD Insurance offers a variety of ways to secure a discount on your premium in Ontario. Here are some of the conditions you can meet to start saving with TD:
Note that if your policy limits or excludes any of the above, then your insurer will apply the discounts based on it. That’s because insurance policies are unique to you and your specific circumstances.
Need to contact TD Insurance with questions or concerns about your auto insurance? Here’s how to reach them:
You can file TD auto insurance claims 24 hours a day, seven days a week, online or over the phone.
TD Insurance has a robust system for handling customer complaints.
If you have a complaint regarding your home and auto insurance, life and health, TD protection plans and travel insurance that hasn’t been adequately addressed yet, the first thing you should do is voice it by contacting your TD Insurance advisor directly at 888-788-0839.
You then have the option to escalate it by either asking the advisor to do so on your behalf or doing so yourself by contacting the TD Insurance Customer Care Team at 877-734-1288, or by using their online form.
There’s a third escalation tier as well, which lets you contact the Senior Customer Complaints Office, though this can only be done in writing. The process involves assigning an investigator to your issue, who will conduct an impartial review of your situation and give you their ultimate recommendation. When contacting the Senior Customer Complaints Office, you must include your contact information, details of your complaint and how you suggest the issue gets solved. You can either email the write-up to td.scco@td.com or mail it to the following address:
Attn: Senior Customer Complaints Office
P.O. Box 1
Toronto-Dominion Centre
Toronto, Ontario
M5K 1A2
Need more information on TD Insurance? We got you covered.
TD Insurance is a subsidiary of the TD Bank Group, one of the largest financial organizations in Canada. TD Insurance is the biggest direct-response home and auto insurance group and one of the top home and auto insurance groups in the country. It also happens to be the national leader in critical illness and a pioneer in affinity marketing – working with groups such as University of Toronto, Sheridan College, University of Waterloo and others to market insurance to their members.
TD Bank Group offers insurance via its subsidiary, TD Insurance, working in two sectors: general insurance and life and health insurance. Its products include:
You can learn more about them on their website: tdinsurance.com.
When making your auto insurance claim, you can turn to a TD Insurance Auto Centre to get your vehicle back in order, instead of going to a local shop. Every auto centre allows you to talk to an advisor, who will walk you through your claims process, as well as get your car repaired by a Certified Repair Technician and receive a rental car in lieu of your current one.
To find a TD Insurance Auto Centre nearest to you, you can consult our list of TD Insurance auto centres.
Alternatively, you can look up an auto centre near you on tdinsurance.com.
There are many reasons your auto insurance premium at TD Insurance may go up. Some of them, such as inflation and new government regulations, are beyond your control, while others are not, as they are usually the result of your specific situation and choices.
Here are some of the ways you can control and lower your auto insurance premiums at TD – or any other insurance provider:
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