Help protect your vehicle with Replacement Cost Coverage.

A new vehicle is a big investment. You want to be sure that you won’t lose out if you're a victim of theft or have a serious accident. Your auto insurance can help.

How does it work?

Did you know that if your vehicle1 is stolen or deemed a total loss, you can have it replaced with either the same model or a similar one?2 With the Replacement Cost endorsement, your vehicle will be replaced in case of a covered total loss. Depending on the province, coverage provided may vary between 48 to 60 months from the original delivery date of the vehicle. If for any reason, we're unable to find your specific vehicle model, we'll look at other vehicles that are considered equal in value and have similar specifications and options. If the vehicle isn't replaced, we'll pay the replacement value indicated in your endorsement. Replacement Cost coverage can be added to cars, motorhomes and motorcycles, subject to eligibility. This coverage applies on a per vehicle basis.

Are you eligible for Replacement Cost coverage?

  • Do you have a vehicle insurance policy with us, and do you satisfy its conditions?
  • Does your vehicle insurance policy have an effective date prior to June 10, 2021?
  • 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 Replacement Cost Coverage.

If you currently have Replacement Cost coverage or plan to purchase it before June 10, 2021 you may continue to enjoy that coverage for the full term (up to 5 years).

What if your vehicle insurance policy has an effective date that's after June 10, 2021?

  • If your coverage with us comes into effect at a date after June 10, 2021, you will not be eligible for Replacement Cost coverage.
  • If that is the case, our Limited Waiver of Depreciation 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 until June 10, 2021.
In the event of a total loss of the insured vehicle, we will pay for the replacement cost of said vehicle by another new vehicle with the same specifications and equipment or, If no such vehicle is available, by another new vehicle of like kind and quality with similar equipment.
If the insured vehicle is not replaced, we will pay the Insured the lesser of:
  • The purchase price of the insured vehicle and its equipment on the original date of purchase;   
  • The manufacturer's suggested list price of the insured vehicle and its equipment on the original date of purchase; or   
  • The price for which we may purchase a new vehicle of same kind and quality as the insured vehicle, with similar equipment, on the date of the accident.
Please consult your Replacement Cost endorsement wording for complete details.

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.