Help protect your vehicle against depreciation.

Did you know that Limited Waiver of Depreciation allows you to receive the purchase price of your vehicle1 the day it was purchased, if your vehicle is stolen or deemed a total loss?2
Limited Waiver of Depreciation is also known as Removing Depreciation Deduction in Ontario. If you opt for Limited Waiver of Depreciation, you'll be covered for up to 36 months from the original delivery date of your vehicle. This optional coverage can be added to cars, motorhomes and motorcycles, subject to eligibility. Coverage applies on a per vehicle basis. Are you eligible for Limited Waiver of Depreciation?

Are you eligible for Limited Waiver of Depreciation?

  • Do you have a vehicle insurance policy with us, and do you satisfy its conditions? policy with us and satisfy its conditions.
  • Does your vehicle insurance policy have an effective date of June 10, 2021 or after?
  • Are you the original owner of the vehicle or the first owner of a showroom demo vehicle?
  • Does your vehicle carry a combination of Collision/Upset, Comprehensive/Specified Perils or All Perils coverages?

If you've answered 'yes' to the questions above, you may be eligible for Limited Waiver of Depreciation.What if your vehicle insurance policy has an effective date that's before June 10, 2021?

  • If your coverage with us came into effect before June 10, 2021, you may not be eligible for Limited Waiver of Depreciation.
  • If that is the case, our Replacement Cost coverage may be of interest to you.

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1For the purposes of this coverage, "vehicle" refers to a private passenger automobile, a motorhome or a motorcycle.
2This coverage is available June 10, 2021.
In the event of a total loss, we will pay the lowest of the following amounts:
  • The actual purchase price of the vehicle and its equipment;
  • The manufacturer's suggested listed price of the vehicle and its equipment on the original date of purchase; or
  • The cost of replacing the vehicle that is a total loss with a new vehicle with similar specifications or equipment and accessories (criterion applicable in Ontario and Quebec only)

Mailing address:
TD Insurance (Corporate Secretariat)
50, Place Crémazie
12th Floor
Montreal (Quebec) H2P 1B6

The content on this page is for general information purposes only and does not constitute legal advice. Coverages described herein may be subject to additional eligibility criteria, limitations and exclusions. In the event you make a claim, potential indemnification is also subject to the receivability of the claim and the type of coverage you bought.
In the case of conflict between the content on this page and your policy wordings, your policy wordings shall take precedence. Please speak to an Advisor or consult your policy wordings for further details.