Things to know about car insurance before you buy
Not quite ready to start a car insurance quote? No problem! Let's start with a few helpful basics:
- To begin with, you (and all drivers you wish to include in the policy) must have a valid driver's license and be a resident of Canada.
- Insurance companies will look at your prior driving record to determine eligibility and rates. However, rates will vary depending on whether you are looking for a new insurance policy altogether or if you wish to renew an existing one.
- Car insurance is mandatory in Canada, whether you lease, finance or own your car.
- Car insurance could help protect you from the financial loss that comes with car accidents.
- TD Insurance can help you choose coverage that fits your needs, so you can feel confident in your protection.
How TD Insurance helps drivers like you
There are many good reasons why more than 1.1 million Canadian customers trust TD Insurance with their personal car insurance needs
Claims Free Reward
Auto Centres and Preferred Vendor Network
Lifetime Repair Warranty
We’re here for you when you need it most
Types of auto insurance coverage
In Canada, auto insurance rules vary by province. There is a minimum level of standard coverage you are required to have, and optional coverages for added protection
Standard coverage
While the minimum standard for auto insurance and mandatory coverage varies by province, these may include coverage such as:
- Personal Liability
If you injure someone or damage property, payments are made on your behalf. - Direct Compensation and Property Damage
Damages to your car are covered to the extent at which you are not at fault in a collision. - Uninsured and Unidentified Automobile coverage
Medical costs and damage are covered if an uninsured driver is at fault. - Accident Benefits
Regardless of who is at fault, medical and other expenses you are entitled to receive are covered.
Optional coverage
TD Insurance offers optional add-ons for broader coverage. These coverage options vary based on your needs, but can include:
- Specified perils
Protects your vehicle from specified perils such as losses caused by fire, floods, hail or theft. - Collision or upset
Damage to your vehicle caused by a traffic collision with another vehicle or object. - Comprehensive
All other insured damage caused to your vehicle (except collision or upset). - All perils
All causes of loss except those directly mentioned as exclusions in your policy
Learn more about car insurance in New Brunswick
Learn more about car insurance in Northwest Territories
See car insurance coverages specific to Northwest Territories
Learn more about car insurance in Newfoundland / Labrador
See car insurance coverages specific to Newfoundland / Labrador
Learn more about car insurance in Prince Edward Island
See car insurance coverages specific to Prince Edward Island
How Much Does Car Insurance Cost?
There are a number of factors that determine how much your car insurance will cost. Here are 7 of the key factors that insurance companies take into consideration when calculating your car insurance premium:
Your car: The make, model, and year of your car can affect your insurance premium. This determines the cost and value of the car, safety features, and repair costs.
How often you drive: The number of kilometers you drive your car per year will affect your insurance premium.
If you use your car for commercial purposes: If you use your car for work purposes (other than commuting), you may need to get commercial car insurance. Your business may require a higher liability limit.
Your driving record (and the records of all drivers who use your vehicle), which includes: The number of years you’ve all been licensed for, convictions due to driving infractions (which includes speeding tickets), and accidents.
Where you live: Premiums are usually higher in and around large urban areas
The coverage you choose: The more comprehensive the coverage, the more it will cost to insure your vehicle
Special discounts: Belonging to a preferred group for professionals and alumni. With TD Insurance you can select up to three eligible groups!
Ways TD Insurance helps you save more
We're committed to helping you save every dollar possible, and we’ll work with you to find all the ways you can save on your car insurance. Here are just a few:
Multi-Vehicle Discount
Save more when you insure two or more vehicles of the same type.
Bundle Home & Car
Get additional savings when you combine your home and auto insurance.
Preferred Membership Rates
Special rates for members of over 750 alumni, professional, and employer groups.
Online Discounts
Save by quoting online, and save even more by buying online†.
Steps to buy car insurance online
-
Begin your quote by answering a few questions. With the information you provide we’ll be able to:
- Assess your needs and recommend coverage
- Determine what discounts are available to you
- Give you the most accurate quote
And of course, it’s all 100% confidential.
-
Customize your coverage
Once you've completed your quote we’ll provide you with our recommended coverage options based on your individual needs.
You’ll be able to:
- Adjust your deductible amounts
- Alter your coverage limits
- Proceed with buying online‡
-
Set up payment, review coverage and buy
Once you’re satisfied with your coverage, you can:
- Review your payment options
- Confirm your payment method
- And review your summary
Now you can finish the process and put your feet up.
Other Eligibility Considerations:
Other insurance conditions may arise depending on the type of vehicle, its use, and any customizations or modifications made to the vehicle. For example, if you have altered your vehicle to enhance its performance or appearance, most insurance companies would need to assess the vehicle to determine if they could insure it. If you plan on modifying your vehicle, call us first! We will let you know if the changes you plan on making could have an impact on your policy.
Other factors that may also prevent an insurer from issuing you a policy:
- Your vehicle has substantial unrepaired damage or is deemed unsafe
- Your vehicle is rented or leased to others
- Your vehicle is used for racing or competition
Learn more about Car Insurance Eligibility and Restrictions
Easily manage your policies
MyInsurance online services puts you in control of your policies with 24/7 access to your documents, claims tracking and more.
Registration is quick and simple. Register for MyInsurance
Already registered? Login below.
TD Insurance at your fingertips
In addition to login access to MyInsurance, the TD Insurance app gives you access to our Accident Toolkit, Severe Weather and Safety Alerts, and safe and convenient access to a digital copy of your pink card
Frequently asked questions
1. Is car insurance mandatory?
Yes, car insurance is mandatory in all provinces in Canada. You'll need to get insurance for your vehicle before you are able to drive. Learn more about car insurance in Canada.
2. What is a deductible?
A deductible is the amount you may be responsible for in the event of a claim. This amount, which is pre-determined by you and your insurer upfront, is then “deducted” from your total claim settlement. Learn all about insurance deductibles.
3. What is "fault" when it comes to insurance?
The reality of accidents is that someone is always either partially or fully at fault. The law in almost every province requires insurance companies to assign a percentage of fault to each driver involved. Learn all about fault when it comes to insurance.
