TD Bank Car Insurance

TD Bank is one of the “Big Five” banks in Canada, and offers personal and business banking services, as well as investment solutions. Its subsidiary, TD Insurance, also offers a wide variety of insurance products, including home, life, travel and car insurance.


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TD Insurance sells the following car insurance policies:

  • Third-party liability: Covers you when you are responsible for either injuring someone or damaging their property in an accident.
  • Accident benefits: Provides compensation for medical/rehabilitation costs, if you are injured in an accident.
  • Collision/upset: Covers any damage to your car caused by another car or an object such as a tree.
  • Comprehensive: Protects you from any damage done to your car that is not covered by collision or upset insurance (fire, theft, etc.).
  • Specified perils: This coverage specifies risks that you are protected against, such as a fire that spreads to your car.
  • All perils: This is a combination of comprehensive and collision/upset coverage. In some provinces, it also includes protection against flooding.

Optional TD Car Insurance Policies

In addition to the coverage listed above, you may also purchase the following additional car insurance policies from TD Bank:

  • Accident forgiveness: With this option, your rates won’t go up if you’re at fault for an accident.
  • Replacement cost advantage: Covers the full replacement cost of a new car, if yours is stolen or severely damaged in an accident.
  • Grand touring advantage: Insures you for lengthy road trips in North America.

TD Car Insurance Eligibility and Restrictions

To be eligible for car insurance with TD, you must meet the following three (3) criteria:

  • You must have a valid driver’s license
  • You must live and have a car registered in one of the provinces and territories where TD coverage is available*
  • Your vehicle is only for personal use
Note : TD Car Insurance is not available in British Columbia, Manitoba or Saskatchewan.

Factors That May Result in a Denial of Coverage

TD Bank car insurance reserves the right to restrict coverage in the following situations:

  • If you omit a key fact when applying for insurance
  • If you have unrepaired damage to your car
  • If you make certain modifications to the car
  • If you lease or rent your car to others
  • If you use your car for racing or in competition
  • If you don’t inform TD of a change to a factor relevant to your policy
  • If you have any past convictions related to an accident
  • If you miss a payment of your premiums (this could result in immediate cancellation of your policy)

TD Car Insurance Discounts Available

TD offers the following discounts on its car insurance policies:

  • Discount if you have two or more cars insured through TD
  • Occasional driver's premium reduced, applicable if a listed driver attends school far away from home
  • Retiree discount: Available to residents of Ontario aged 65 and up
  • Multi-product discount: If you have both car and home insurance through TD
  • Accident-free discount: If you’ve gone a certain amount of time without a collision
  • Anti-theft system discount: If you have an anti-theft device installed in your car
  • Anti-theft engraving discount: If your car has approved etching that would deter would-be thieves
  • Graduated licensing discount: If you’ve recently progressed from one driver’s licensing level to the next
  • Hybrid or electric vehicle discount: If your car is recognized by the Insurance Bureau of Canada as a low-emission vehicle
  • No-conviction discount: If you haven’t had any convictions in a specified period of time
  • First chance discount: Available to new drivers in New Brunswick, Nova Scotia and PEI who maintain a clean driving record.

TD Insurance also offers group rate discounts to members of some professional and alumni groups.

More About TD Car Insurance

TD Bank serves 11 million customers at over 1,150 branches across Canada. With 4,000 employees and offices in Alberta, Ontario, Quebec, and Atlantic Canada, TD Insurance is the largest direct-response insurance group in Canada. Enter your location and car information into our widget and find out if TD Bank can offer you one of the best car insurance rates in Canada. is not affiliated or otherwise associated with Hub International Canada.