Regardless of where you’ve been getting your car insurance from or where you’re located in Canada, you may have seen your car insurance premiums rise in recent years. This is at least in part due to the national car theft “crisis” and rising repair costs, attributed to advances in vehicle technology and the increasing use of expensive materials, as well as general inflation. 

With costs rising in other areas of our daily lives too, you will need to decide whether or not TD car insurance aligns with your budget, needs, and priorities.

One of the best ways to do that is to weigh the potential pros and cons of TD car insurance, as well as compare their quote with alternative providers, like YouSet, so that you’re sure you’re getting the best price.

How is YouSet different from TD?

YouSet combines the convenience of an online platform with the advantages of a licensed insurance broker, while TD is a direct-to-consumer insurer that underwrites and sells its own policies.

As such, there are key differences between YouSet and TD to consider, which you can see outlined clearly in the table below.

	YouSet	TD
Type of provider	Digital insurance broker	Direct-to-consumer (D2C) insurer
Products	Home, tenant, condo, and car	Home, tenant, condo, car, health, life, and travel
Number of insurers	18 insurers (Full list of YouSet insurers)	1 insurer (themselves)
Price comparison	Side-by-side comparison, shows multiple quotes	No comparison, only shows one quote (their own)
Underwriting	Does not underwrite policies	Direct writer (underwrites its own policies)
Checkout	Online checkout or by phone	Online checkout or by phone
Claims	Claims handled by the insurer, additional support from YouSet, as needed	Claims handled directly by TD

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TD car insurance pros and cons

As with any insurance provider, it’s important to understand what TD offers and what it doesn’t. This is key to helping you determine if it aligns with what you’re looking for in a car insurance provider.

Backed by Toronto-Dominion Bank

TD Insurance operates under the TD Bank Group (also known as Toronto-Dominion Bank), one of Canada’s “Big Five” banks. Policyholders often find this affiliation with a well-established and reliable institution reassuring, as it provides confidence that TD Insurance can fulfill its obligations.  

Restricted to TD products and pricing

The underwriter of TD car insurance policies in Ontario is TD General Insurance Company, and Primmum Insurance Company in all other provinces (both are owned by Toronto Dominion Bank). Unlike brokers, such as YouSet, which scan a network of multiple carriers to find you the best price, with TD, you’re limited to their products, prices, and discounts.  

Broad lineup of products

TD Insurance has a broad lineup of products beyond car insurance, including home, tenant, condo, life, health, and travel insurance. They also advertise a discount for customers who purchase both home and car insurance; however, bundling with a single carrier isn’t always the best way to maximize savings.   

Online checkout might be limited

TD allows you to get a quote and, for many, to purchase home insurance online. However, a fully digital checkout isn’t guaranteed, as their website states, “The ability to purchase insurance online is currently not available in all provinces.”  

In-person claims at TD Auto Centres

TD’s Auto Centres are designed to allow TD car insurance customers to file a claim, get their vehicle repaired, and arrange a rental car in one location. However, the online locator map currently only shows locations in the GTA and Ottawa in Ontario, Montreal in Quebec, Halifax in Nova Scotia, and Edmonton and Calgary in Alberta.

Regional restrictions on usage-based discount

TD MyAdvantage is TD’s version of the growing trend of usage-based insurance programs, offering potential discounts based on driving behaviour. However, this program is currently limited to Ontario and Quebec, meaning residents outside these provinces won’t be able to take advantage of the potential savings.  

Lifetime warranty on repairs from approved providers

TD car insurance customers who use one of the company’s Auto Centres or approved providers for repairs after a claim are eligible for a lifetime warranty on those repairs. However, this is not a catch-all solution. The warranty isn’t transferable if you sell your car or cancel your TD insurance, and it doesn’t cover wear and tear, routine maintenance, or damage from future accidents.   

Bundling savings may be limited

Bundling home and car insurance with TD can save you money, as advertised. However, bundling with a single carrier doesn’t always offer the most savings possible. Rather, a mix-and-match approach to bundling, where products and pricing from multiple carriers are considered and combined, can help you maximize your savings and find the most cost-effective solution.  

TD vs. YouSet car insurance

After getting a quote from TD and doing your own research, it’s always wise to compare the quoted price to a policy from an alternative provider, such as YouSet, to see if that’s truly the best price you can get or if there’s a better deal available.

Since 2017, YouSet has been making it easier for Canadians to buy home and car insurance online. Why spend hours manually comparing quotes when our proprietary technology can do it all for you in less than 4 minutes? Not only that, but we’ll also have Canada’s top insurance providers competing for your business, ensuring you get the best price year after year. With over 300,000 users and an average online review rating of 4.9 stars, YouSet is a broker well worth considering. 

Best price year-after-year

YouSet’s algorithms are designed to do one thing – find you the best price. Not just the first time you buy, either. If your price increases at renewal, we’ll alert you and even help you re-shop with another carrier.

Transparent renewals

Anytime a YouSet insurance policy comes up for renewal, our team will make sure you’re paying the best price possible for your policy. If that’s no longer working, we’ll help you re-shop another carrier for a better deal.

Mix-and-match approach to bundling

YouSet is the only digital broker in Canada that automatically compares the cost of bundling home and car insurance from a single carrier against the cost of mix-and-matching home and car carriers. Whichever option offers the maximum savings is the one we present to you.

Buy, manage, and renew your policy online

How much easier would it be if you could purchase a policy, personalize it to fit your needs, make modifications to it, and renew it, all without having to make any phone calls or wait on hold? With YouSet, you can do all that and more with our self-serve features.

Highly reviewed by Canadians

With an overall rating of 4.8 out of 5 stars on Google, the general consensus among YouSet users is that YouSet is making it easier to find affordable insurance and buy it online at the best price year after year.