As you can probably guess, TD Insurance is the insurance subsidiary of TD Bank. They’re an all-purpose insurance company selling home and auto insurance, as well as life and health insurance. As one of the largest home insurance companies in Canada, owned by one of the largest banks in Canada, they’re a safe and secure choice for insuring your home.
TD Insurance doesn’t have physical branch locations (other than auto insurance claims centres). You’ll deal with them over the phone or internet, so you don’t get the personal service you would get from some other companies. If you’re good with that, TD Insurance could be a good fit for you, especially if you’re already a TD Bank customer.
TD home insurance features
TD home insurance has many of the common home insurance features.
Why You Want It
10% off for online purchases + Get free advice from lawyers and contractors.
Special Features
- Free advice from lawyers and contractors available for customers with bundled plans
- Protection for family-related situations, such as cyberbullying and parents living in nursing homes
Eligibility
- Canadian citizen
- Age of majority
Provinces
ALL
Features
Liability Insurance
Personal Valuables Coverage
Actual Replacement Cost Of Home And Personal Belongings
Full Sewer Backup
Overland Water Coverage
Hail Coverage
First Claim Forgiveness
Replacement Cost Guarantee
Enhanced Deductible Waiver
Green Coverage
Additional Living Expenses
Home Sharing
Home Security Savings
Multi Home Savings
Newly Built Home Savings
TD home insurance product rating: 5.0 stars
TD home insurance provides a middle of the road all-risks insurance coverage. This means the basic insurance policy covers most situations except for those specifically mentioned as exclusions. For more protection, you can upgrade to Enhanced Home Protection, which pays for eco-friendly upgrades during a claim situation, along with some other benefits.
While TD Insurance has an excellent score, they still don't have the option of an enhanced deductible waiver, which would eliminate the deductible when you have a large claim. They also have a notable amount of unsatisfied customers.
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 home insurance
This is what TD home insurance has going for it.
Pros
It’s easy to get an online quote
Just put in your address and answer a few simple questions to get an immediate insurance quote online. You do need to provide them with your name, email address, and phone number though.
There’s a discount for using the web
You get an automatic 10% discount when you request a quote online. This is in addition to the usual discounts for having a security system, owning a newer home, or being mortgage-free.
You may be eligible for lower rates if you belong to a group
TD Insurance is one of the largest providers of group home and auto insurance. If you belong to a professional or alumni association, you might qualify for group insurance with a lower rate.
Their bundle includes free advice
If you insure both your home and your car with TD Insurance, you get these 2 benefits for no additional charge: Legal Assistance (personal legal advice) and Home Assistance (referral to a network of recommended home repair and renovation providers).
There’s one combined coverage amount
TD Home Insurance has a flexible coverage limit – one overall amount covers your home, belongings, and additional living expenses instead of having separate limits for each.
The cons of TD home insurance
Here are some reasons why you might not want to get your home insurance from TD.
Cons
TD Insurance doesn’t offer in-person support
They don’t have walk-in branches, so customer service is done entirely online or over the phone. This also means you don’t have a specific insurance advisor assigned to your account.
Review scores are not very good
Over 70% of reviewers on Insureye give them 1 star out of 5 – the lowest possible rating. The most common issue is that it takes a long time to reach a customer service agent on the phone.
TD home insurance alternatives
How does TD home insurance compare to the products offered by other large insurance companies?
 |  |  |  | |
|---|---|---|---|---|
| Account | TD Home Insurance | Square One's home insurance | Allstate Home Insurance | The Co-Operators Home Insurance |
| Genius Rating | ||||
| Why You Want It | 10% off for online purchases + Get free advice from lawyers and contractors. | Rates start as low as $12 per month + Coverage is fully customizable and online. | Get a disappearing deductible + Extra discount options. | One-of-a-kind flood coverage + High customer satisfaction ratings. |
| Liability Insurance | | | | |
| Personal Valuables Coverage | | | | |
| Actual Replacement Cost Of Home And Personal Belongings | | | | |
| Full Sewer Backup | | | | |
| Overland Water Coverage | | | | |
Show More | ||||
| Get a quote See more TD products Compare | Get a quote See more Square One products Compare | Learn More See more Allstate products Compare | Learn More See more Co-operators products Compare |
FAQ
How can I get a TD home insurance quote?
You can easily get a quote online (which can get you an extra 10% off) or over the phone at 1-866-361-2311.
Does TD have home and auto insurance bundles?
Yes, you can bundle your home and auto insurance for additional savings. Click here to see more about what TD home insurance offers.
How do I make a TD home insurance claim?
For non-urgent claims you can submit an online claim form. In most cases they’ll get back to you within 1 – 2 business days. If you need assistance right away, they can also be reached by phone. Unfortunately, TD Insurance doesn’t offer in-person support.
Does TD home insurance cover water damage?
Yes, but it depends on the source of the water damage. You may need the optional Extended Water Damage Endorsement in order to be fully covered. If you have specific concerns, you should discuss them with an insurance advisor. Click here to see more coverage options from TD home insurance.
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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