TD Insurance, Car Insurance Review

TD Insurance, General Insurance Company Overview

company

If you are looking to get insurance, TD certainly has some options available to you. The company has been around since 1955 and is actually the 19th largest bank in the world. TD was created as a result of a merger between the Bank of Toronto and the Dominion Bank. The company now has its headquarters in Toronto but also has operations out of the United States. The bank supports around 90,000 employees which help to serve their massive customer base containing over 20 million clients. In Canada alone, TD bank serves over 10 million clients at their branch locations. This company certainly does do a lot of business, but recently in 2015, they did not do so well in terms of profits ranking 30th among insurance companies for the largest losses with a total loss of $211,362,000.

Products Offered by TD Insurance, General Insurance

If you are thinking of going with TD, they certainly do have plenty of policies that you can choose. Their website makes it very easy to find and get a quote for the policies that you want to have a look at. It is extremely important to take time and think about the features you want in a policy as even though it may cost you more each month, a quality insurance policy could save you potentially millions of dollars if you were ever to injure someone or get into a serious accident. Here is a list of things that TD Insurance Company offers:

Auto Insurance:

  • Liability
  • Uninsured automobile
  • Accident Benefits
  • Direct compensation if you aren’t at fault

Travel Insurance:

  • Medical emergency
  • 24/7 emergency assistance
  • Couple and family
  • Trip cancellation
  • Transportation

Home Insurance:

  • Home
  • Condo
  • Renter
  • Environmental damage
  • Property
  • Liability

Life Insurance:

  • Couple
  • Single
  • Home
  • Business
  • Family
  • Credit card

TD Insurance, General Insurance Car Insurance Review

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If you want to make sure that you are getting a good insurance company, one thing you might be interested to check out is the total written auto premium. This number stands for the total amount of premiums collected by an insurance company in a given period of time. This number is not the total amount of profit that the insurance company has made, as claims do have to be deducted from this number first before profits can be had. You should always aim to get an insurance company that can easily pay you for any claims that you make. The total written auto premium for TD Insurance was $2,068,120,000. This is a substantial dollar figure and even though TD Insurance didn’t make a profit in 2015, they were still able to pay all of their client’s claims due to the large size of the bank.

TD Car Insurance Products:

Quotes:

With there being over 1150 TD branches in Canada, TD certainly makes it easy for you to be able to go to a bank and get insurance. Having this many branches allows you to easily be able to go in and talk to someone and ask any questions that you might have. One very nice thing about TD is that if you don’t want to talk to someone, you can also get an online quote directly from their website. A very convenient feature taht not all insurance companies have.

Accident Forgiveness:

If you are worried that you might get into a car crash and be at fault or partially at fault, you may be interested in adding this to your policy. If you happen to get into an accident and have this coverage, you won’t have to worry about your insurance rising as a result of your accident. This can definitely save you a lot of money if you get into a serious crash and it can definitely save you a ton of money over the long term.

Claims:

One issue you may find with some insurance companies is that it takes forever for you to file a claim. If you are with TD, you don’t even have to call someone to file a claim if you don’t want to. Simply get the TD app and you can file a claim directly on the app with support from a TD assistant. This is a very nice feature that TD offers to give their clients more convenience and save them some time.

TD MyAdvantage:

If you want to save some money on your insurance then TD does have a very cool option for you. TDMyAdvantage is a program that you can download on your mobile. The app will keep track of your speed, braking, acceleration and cornering and at the end of your policy when it is time for a renewal, you can receive a discount of up to 25 percent off of your insurance. Your insurance rates will never increase as a result of using TD MyAdvantage so there is really no reason not to use this awesome discount app.

Bundles and Group:

If you are looking to save some money on your insurance, you could always consider bundling your insurance with TD. The company offers a discount if you bundle your home and auto insurance with them as this does make them more money. TD also has a group/ employer discount rate if you are looking to pick up insurance for things like work vehicles and buildings.

Total Sales/ Ranking by Province:

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If you are considering TD Insurance, you may be interested to see if they are actually a popular insurance company in your area. This is a good idea to check as it will give you an idea as to whether or not they have competitive rates and coverage in your area that is likely to work for you. To help you out with this, we have created a table portraying the total direct written premiums by Province for TD compared to the top 30 insurance companies in each Province. Below are the results that we found:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland29,394,0005
Prince Edward Island8,439,0005
Nova Scotia59,388,0003
New Brunswick41,442,0004
Quebec83,614,0008
Ontario1,302,511,003
ManitobaN/AN/A
SaskatchewanN/AN/A
Alberta529,074,0003
British ColumbiaN/AN/A
Yukon Territory7,859,0001
Northwest Territories5,660,0001
Nunavut739,0003

Resources:

https://www.tdinsurance.com/products-services/auto-car-insurance

https://en.wikipedia.org/wiki/Toronto-Dominion_Bank

https://www.tdinsurance.com/