Condos have unique insurance considerations that aren't always taken into account by a more generalized home insurance policy. TD Condo Insurance has taken these unique qualities and created an insurance product that combines the best of its home insurance features with the specific needs of condominium living. It's specially designed to cover what the condo corporation's building insurance doesn't – things like personal liability, loss assessment, and more. And it covers this gap very, very well.
But while it would be nice to be able to say that they've left no stone unturned, their reputation for poor customer service doesn't allow it. Still, you may find that the quality of TD Condo Insurance is enough to make up for this shortcoming.
TD Condo Insurance features
This table provides a thorough overview of all the features TD Condo Insurance has to offer:
Why You Want It
Purchase online for up to 10% off + Personalized coverage advice.
Special Features
- Family coverage for things like nursing homes
- Eco-efficient rebuild coverage
- Ability to increase coverage for high-value items
Eligibility
- Canadian citizen
- Age of majority
Provinces
ALL
Features
Personal Liability Coverage
Personal Belongings Coverage
Unit Improvements Coverage
Additional Living Expenses Coverage
Loss Assessment Coverage
Common Area Damage
Sewer Backup
Overland Water
Identity Theft
Earthquake Coverage
Student Property Coverage
Full Hail Coverage
Accidental Property Damage
Water Protection
Home-sharing Coverage
Home-based Business Coverage
TD Condo Insurance product rating: 3.6 stars
Not only does TD Condo Insurance provide peace of mind since it's from one of Canada's most respected financial institutions, but it also offers coverage for almost every area you can think of. Enhanced Home Coverage covers cyberbullying and parents in nursing homes. The Settle Your Way endorsement means you can receive cash instead of coordinating repairpersons or replacement services. Have a student living with you? Their belongings are covered too.
However, TD has an unfortunate reputation for subpar customer service, which is a real concern. Even the most detailed and comprehensive policy won't help you if you can't get in touch with someone to discuss the details of an insurance claim.
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 Condo Insurance
There are a few things that TD Condo Insurance does very well, and here they are:
Pros
Several opportunities for discounts
TD Condo Insurance offers a 10% discount for clients who request an online quote and subsequently purchase a policy. Savings are also available by having a home security system, insuring multiple properties, and bundling other insurance products together with your condo insurance.
Highly customizable protection
If the base protection offered by TD Condo Insurance doesn't seem like quite enough, you can always choose from their long list of add-ons. This includes Personal Valuables Coverage, Identity Theft Recovery, Personal Umbrella (extra liability coverage), and more.
Flexible claims option
TD's "Settle Your Way" endorsement allows policyholders to opt for a cash settlement instead of repairing or replacing damaged property – and you don't have to worry about depreciation. You'll receive the full amount that you would if you were rebuilding your home.
Highly rated mobile app
Having a top-quality mobile app is important for any service, including insurance. The TD Insurance app boasts a 4.6-star rating on the Google Play Store and 4.8 stars from the Apple Store. With this app, you can easily access all your policies, submit claims at any time, receive severe weather notifications, and even access customer support.
The cons of TD Condo Insurance
On the other hand, TD Condo Insurance isn't perfect – and here's the specifics on where we feel it's lacking:
Cons
Customer service concerns
Unfortunately, TD Condo Insurance receives low ratings for its customer service efforts. Users have reported long wait times on the phone, not receiving responses to their emails and/or messages, and speaking with representatives who lack basic industry knowledge. These are concerning details that can add even more anxiety to an already frustrating situation.
TD Condo Insurance alternatives
Here's how TD Condo Insurance compares against other condo insurance options on the Canadian market.
 |  |  |  | |
|---|---|---|---|---|
| Account | TD Condo Insurance | Sonnet Condo Insurance | Co-Operators Condo Insurance | Aviva Condo Insurance |
| Genius Rating | ||||
| Why You Want It | Purchase online for up to 10% off + Personalized coverage advice. | Get coverage whether you live in or rent the condo out + Instant quotes. | Get unique coverage for condominium owners + Special insurance add-ons. | Customize coverage for your condo + Save when you combine policies. |
| Personal Liability Coverage | | | | |
| Personal Belongings Coverage | | | | |
| Unit Improvements Coverage | | | | |
| Additional Living Expenses Coverage | | | | |
| Loss Assessment Coverage | | | | |
Show More | ||||
| Get a quote See more TD products Compare | Learn More See more Sonnet products Compare | Learn More See more Co-operators products Compare | Learn More See more Aviva products Compare |
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FAQ
Is TD Condo Insurance good?
TD Condo Insurance is an excellent choice for anyone looking to protect their home – its TD Condo Insurance-star Genius Rating is proof of this. It provides solid coverage and is highly customizable, plus there are several types of discounts available.
How long does it take to get insurance from TD?
As long as you have the required information about your home ready, you can get an online quote from TD Condo Insurance within minutes. It should only take a few moments longer to agree to purchase a policy.
Is building insurance the same as condo insurance?
No, these aren't the same. Building insurance is purchased by the condo corporation or building owner to protect the physical structure of the building and its common areas (lobbies, elevators, etc.). Condo insurance only covers your individual condo unit.
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.
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