How to switch your home and car insurance
Are you a little undecided about whether you should switch your home and car insurance from your current insurance provider? Start with some really great information about how to choose the best insurance for your home and more useful information about what to look for when comparing car insurance.
Already made up your mind about switching your insurance provider? Good for you. By switching your home or car insurance to TD Insurance or bundling them both together, you get the right coverage you need, and you can enjoy some great savings. Let’s say you’ve done your research, you know all the benefits and all the ways you can save when you switch to TD Insurance, now let’s help you understand the process of changing from one insurer to another. We can answer your questions about what information you’ll need, the steps involved to switch before your renewal date and when to cancel your old insurance.
The good news? We made it simple, straightforward and convenient for you to switch. And if you have any questions, we’re here to support you every step of the way.
What do I need to do before I switch?
The first thing to do is get a quote. You can get a quote online in as little as three minutes. Once you’ve done that, compared your coverages and premiums and decided to switch, there are a few things you should have on hand to make the process of switching a little easier.
If you’re setting up a car insurance policy, have your driver’s licence (along with anyone else’s in the household that will be on the policy) and the VIN (vehicle identification number) for your car on hand, if you haven’t already provided this during the quote process. We'll need to know who the vehicle is financed or leased through, if applicable. You’ll be asked a few quick questions and then you’ll need your payment details.
If you’re setting up a home insurance policy, you don’t need any paperwork. Most of the necessary information needed about your home would’ve been collected during the quote process. In order to purchase your home insurance, you’ll be asked a few questions to confirm who needs to be listed on the policy. If applicable, we'll need to know who your mortgage is through so we can notify them that TD Insurance will be insuring your home. And then of course, you'll be able to set up payment, review your coverage, and complete your purchase. There may be a few additional questions to ensure you get the right coverage for your unique needs.
How do I contact someone to switch my insurance?
With TD Insurance, we offer two different ways to connect with us to switch your insurance coverage. You can switch your insurance online with chat support to help you along the way, or you can get in touch with us over the phone. Remember that if you’ve recently completed an online quote, you can retrieve it to review and then purchase your insurance. Once you have set up your new insurance, it’s your obligation to contact your previous insurer to cancel your coverage.
How long does it take?
Getting a quote for home or car insurance online is fast, easy and secure. You can get a fully accurate quote in as a little 3 minutes. And from there, you can complete your purchase online or retrieve your quote later on when it's more convenient.
Can I switch my insurance before my current insurer's renewal date?
When you’re signing up for new policies, the renewal dates don’t matter. If your home and car insurance renew on different dates, switching both at the same time means you’ll have a single renewal date for both policies.
Do I have to pay a penalty?
If you choose to cancel on your renewal date, there’s no penalty, however, if you chose to cancel on any other date, you may be charged an additional fee by your previous insurer for cancelling early. If you plan on cancelling outside of your renewal date, it’s always a good idea to check with your current company first to understand any additional costs. Even if there’s a penalty it still may be worth it to cancel early, if the savings are big enough.
Can I get a discount on my insurance?
When should I cancel my old insurance policy?
Canceling your previous insurance coverage is the very last step in this process. And you shouldn’t cancel until you have new coverage set up. In fact, we suggest you cancel your old policy the same day you start the new one.
If you need more help, feel free to reach out to one of TD Insurance's licensed advisors to help get you all the information you need to feel confident about switching your home and car insurance today.
* Note: You may not always be given the option to buy online. If this happens, we encourage you to call and speak to one of our licensed advisors or let us call you.