TD auto insurance is one of several types of insurance coverage offered by TD Insurance. With a comprehensive array of options available to drivers in most of Canada, TDs car insurance has something to offer for pretty much everyone.
And while TD certainly isn’t the cheapest car insurance option available, they also aren’t the most expensive. And, unlike some insurance providers, TD offers a variety of ways to reduce your car insurance costs, including discounts for remaining claims free, additional savings for opting in to their safe driver program, and a decreasing deductible that drops 10% every year you don’t use it. You can even bundle your TD home insurance and TD auto insurance together to save even more.
TD auto insurance features
Here’s what TD car insurance has to offer.
Why You Want It
Membership discounts for 750+ groups + Save with TD MyAdvantage.
Special Features
- Save an average of 30% when you're claims-free
- Convenient TD Insurance app
- TD MyAdvantage driving program rewards safe drivers
- Save 5% on car insurance when you buy online
Eligibility
- Canadian citizen
- Age of majority
Provinces
AB, NB, NL, NS, NT, NU, ON, PE, QC, YT
Features
Liability Insurance
Accident Benefits / Bodily Insurance
Collision Insurance
Comprehensive Insurance
Emergency Road Service
Uninsured Motorist Coverage
Direct Compensation Property Damage
All Perils
Specified Perils
Accident Forgiveness
Replacement Value For Total Loss
Family Protection
New Vehicle Protection / Depreciation
Loss Of Vehicle Use Endorsement
Rented Or Borrowed Car Protection
Ride Sharing
Conviction Protection / Ticket Forgiveness
Disappearing Deductible
TD auto insurance rating: 5.0 stars
TD car insurance offers a huge number of options, including almost everything you could want for personal auto insurance coverage. For this reason, it has received 5.0 stars, a strong score despite not offering ridesharing coverage (which isn’t unusual), and no form of ticket forgiveness. Other than that, it has almost everything you could want from a car insurance provider, including relatively competitive rates.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of TD auto insurance
Let’s take a look at what TD car insurance has to offer.
Pros
Comprehensive offering
TD Insurance has been around for a long time, and they offer a wide variety of options for your auto insurance needs. Whether you’re just looking for the most basic coverage for a second hand car you’ve just purchased, or for comprehensive coverage for a shiny new luxury SUV, TD can customize your insurance to meet your needs.
Reasonable rates
When looking at various car insurance providers, we put together a set of example quotes using the same make and model of car, the same address (in Ontario), and the same driver information. TD’s quote came in right around the middle of those we checked…not the lowest, by any means, but also not the highest.
Claims Free Reward
TD offers a number of ways that you can save money on your car insurance, including a “Claims Free Reward”. The concept is pretty basic – the longer you go without making a claim on your car insurance, the more you’ll save, up to a possible 30% savings. And this even applies if you’re just switching to TD. They’ll offer you the same level of savings based on your claims-free years with your previous insurance company.
Save with TD MyAdvantage
If you want to pay even less for your car insurance, you can sign up for the TD MyAdvantage program. This is a usage-based savings program that rewards you for being a safe driver. It requires that you download an app to your smart device, which will then collect and analyze driving data such as acceleration, braking, speeding, and cornering to give you a driving score each trip. When you go to renew your TD auto insurance policy, they will use the data from the app to calculate a possible discount of up to 25%.
Disappearing deductible
Yet another way to save on your TD car insurance is with their decreasing deductible. Every year you go without a claim on your insurance, your deductible could be reduced by 10%. If you start with a $500 deductible, for example, that will be reduced to $450 after 1 year. Go long enough without a claim, and your deductible can go all the way down to $0.
Backed by a big bank
While there are cheaper insurance providers out there, there’s something to be said about having your insurance with one of Canada’s big banks. TD has a solid record for excellent customer service, and solid reviews from customers they’ve had for decades. If you’re just looking for the cheapest possible option, TD probably isn’t for you, but if you’re looking for the peace of mind that comes from being insured by one of the biggest banks in Canada, TD is a solid choice.
The cons of TD auto insurance
There are a couple of drawbacks to watch out for.
Cons
Not the lowest rates you’ll find
As we’ve mentioned a few times already, TD auto insurance isn’t going to offer you the lowest possible premiums. That said, however, they also weren’t the highest, instead falling somewhere in the middle of the providers we surveyed. And if you’re a seasoned driver with a long claim-free driving history, there are other ways TD can save you money in the long run.
Doesn’t cover ridesharing or delivery work
If you’re a gig worker, driving for one of the ridesharing or food delivery services, you have to get additional commercial drivers insurance. This isn’t unusual, however – in general, your auto insurance provider is going to require that you get additional business/commercial insurance if you opt to use your car for commercial purposes. It’s just something you have to factor into the cost of doing business.
TD auto insurance alternatives
We took a look at how TD measured up to some similar competitors. Here’s how they fared.
 |  |  |  | |
|---|---|---|---|---|
| Account | TD Auto Insurance | Desjardins Car Insurance | Sonnet Car Insurance | CAA Auto Insurance |
| Genius Rating | ||||
| Why You Want It | Membership discounts for 750+ groups + Save with TD MyAdvantage. | Perks for customers under age 25 + Ajusto program offers discounts. | Get a quick quote online for competitive rates + Add on optional coverages. | Get comprehensive coverage options + Access discounts with membership. |
| Liability Insurance | | | | |
| Accident Benefits / Bodily Insurance | | | | |
| Collision Insurance | | | | |
| Comprehensive Insurance | | | | |
| Emergency Road Service | | | | |
Show More | ||||
| Get a quote See more TD products Compare | Learn More See more Desjardins products Compare | Learn More See more Sonnet products Compare | Learn More See more CAA products Compare |
People also viewed...
FAQ
How can I save money on TD auto insurance?
TD offers a number of ways to save money on your car insurance coverage, including up to 30% savings for remaining claims free, up to 25% off if you opt in to the TD MyAdvantage program, and a 10% reduction in your deductible for every year you don’t make a claim. And even without discounts, TD’s car insurance rates are competitive, falling somewhere in the middle of the pack of the car insurance providers we surveyed.
Does TD auto insurance cover rental cars?
TD does offer additional auto insurance that will cover you when driving rental cars, but it is an optional add-on that you have to request specifically. Read more about what TD auto insurance has to offer here.
Will TD car insurance cover windshield rock chip damage?
If your TD auto insurance policy includes comprehensive coverage, specified perils, or all perils coverage, you should be covered for windshield chip repair services. If you’re not sure, you should call your TD insurance advisor to find out. They’ll even help you find a preferred vendor to help with any needed repairs.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
Hot Money Deals This Month
- Get even more cash back with exclusive offers only available on the GeniusCash app
- Explore bigger GeniusCash offers that you won't find anywhere else.
- Connect your credit cards and unlock bonus cash.
- Explore customized recommendations to level up your rewards.
- Refer your friends and family to earn bonus levels and extra cash back.
- Take control of your money with a full-featured chequing account + $100 GeniusCash
- Get up to $500 in cash when you open a new account, complete specified actions, and open 2 registered investment accounts.
- Unlimited free transactions – including debit and Interac e-Transfers®.
- Earn Scene+ points on every debit transaction.
- $100 GeniusCash on approval – ends Dec 31, 2025.*.
- Unlimited transactions + Free identity theft protection + $125 GeniusCash
- Unlimited transactions and Interac e-Transfers.
- Free identity theft protection and access to Coursera online learning.
- $125 GeniusCash on approval – ends Dec 31, 2025.*.
- A low cost online broker with a $2,000 bonus + $80 GeniusCash
- Get $150 when you open and fund your new accounts with at least $1,000.
- No minimum investment requirement.
- Plenty of trade-free ETFs to choose from.
- $80 GeniusCash on approval – ends Dec 31, 2025.*.
- Bonus: Get one of the lowest brokerage rates from an online broker from a Big 5 Bank →
