Million Dollar Solution®
We’re ready to help you feel confident about the amount of home insurance coverage you have in the event of a covered claim.
Get to know the Million Dollar Solution®, offered exclusively by TD Insurance. It’s an amount of coverage that can help make sure you’re not limited by fixed amounts for your building, contents and additional living expenses. With the Million Dollar Solution®, you have flexibility in terms of how your claim is paid out, even if it costs more than expected. For example, if you need to rebuild your home and there’s a lumber shortage, it could cost the insurer more than estimated.
Having a single flexible coverage amount ensures you have enough coverage to help get your life back to normal in the event of a claim. Our Million Dollar Solution® provides a global limit of coverage for:
- Your home, including any outbuildings or detached structures on your property, such as sheds and garages. Barns and stables may not be included, so ask your TD Insurance Advisor about your options to ensure adequate coverage.
- Your belongings that are located in your home, or temporarily removed from your premises, as well as your belongings located in outbuildings or detached structures on your property.
- Additional living expenses if you need to temporarily move out of your home while it’s being repaired or rebuilt because of a loss that’s covered by your policy.
- Clean-up costs, such as debris removal and decontamination services.
- Rebuilding expenses associated with new by-laws.
Unlike TD Insurance, other insurers often have separate limits for your building, contents and additional living expenses. With our Million Dollar Solution®, you can use your amount of coverage for your home, belongings and expenses, up to the global amount provided.
Most insurers will set your Additional Living Expense limit at 20% of the rebuild value of your home. For example, if the estimated rebuild for your home is $500,000, then you'd get $100,000 in Additional Living Expense coverage. This one-size-fits-all approach doesn't account for factors that could change the amount of coverage you need in the event of a claim, such as the number of people in your household or the cost of local short-term housing. If you reach your limit for additional living expenses, you might have to make significant lifestyle changes during an already stressful time. The Million Dollar Solution® would replace those limits with a global amount that can apply to any of these types of coverage, providing additional flexibility in the event of a claim
We can help you get a quote and guide you through any questions you might have about the Million Dollar Solution®. Get in touch with a TD Insurance Advisor today.
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