There’s no doubt that TD Insurance is a well-known player in the Canadian insurance industry. But is that enough?
With the increasing demand for affordable home insurance and the convenience of online shopping, Canadians are expecting more from their insurance providers. Rising interest rates, the high cost of living, and busy lifestyles all highlight the growing need for insurers who can offer the best price on home insurance, flexible customer support, and easy-to-use online platforms with self-serve features.
If you’re reading this, you might be in the process of considering TD for home insurance – or perhaps exploring alternatives, such as YouSet. Either way, here’s a quick look at some of the potential pros and cons to consider when making your decision.
The Pros and Cons of TD Home Insurance
TD Canada Trust, part of the TD Bank Group, is well-established in the North American financial sector, particularly in Canadian banking and insurance. Their banking services are comprehensive, offering everything from everyday banking accounts to complex investment products, while their insurance services are equally diverse, providing a range of options for home, auto, travel, and life insurance.
While shopping around and comparing providers is always a good idea, it’s especially important when considering TD Insurance for your home, as they don’t compare quotes from multiple carriers like a broker does.
| Pros | Cons |
| Strong financial backing | Restricted to TD products and pricing |
| Extensive product offering | Poor online reviews |
| Offers single coverage limit | Inconsistent customer service |
| Perks for bundling | Long wait times for assistance |
✅ Strong financial backing
As part of the TD Bank Group, TD Insurance benefits from the financial stability and resources of a large and established financial institution, ensuring they can fulfill their obligations to policyholders.
❌ Restricted to TD products and pricing
TD home insurance policies are underwritten by TD General Insurance Company in Ontario or Primmum Insurance Company elsewhere in Canada, both of which are ultimately owned by Toronto Dominion Bank. Unlike brokers, such as YouSet, which scans a network of multiple carriers to find you the best price, with TD, you’re limited to their products, prices, and discounts.
✅ Extensive product offering
As one of the biggest names in the Canadian insurance industry, TD offers an expansive range of personal insurance products, including car, tenant, condo, life, 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.
❌ Poor online reviews
As of January 2025, TD Insurance’s rating on InsurEye was just 1.4 out of 5 stars. While these customer reviews may highlight some concerns, bear in mind that unhappy customers are generally more likely to leave reviews on platforms like this than satisfied ones.
✅ Offers single coverage limit
TD home insurance allows customers to combine coverage for their home, personal belongings, and additional living expenses under a single limit. While this can eliminate the need to manage separate limits for each coverage, it’s an optional add-on and not included as a standard feature.
❌ Inconsistent customer service
Some TD Insurance customers voice frustration regarding both the procedural inefficiencies of the company’s customer service team and the shortcomings of their online self-service portal.
✅ Perks for bundling
Customers who bundle their home and car insurance enjoy complimentary Legal Assistance (personal legal advice over the phone) and Home Assistance (referrals to prequalified contractors for home repairs or renovations). However, keep in mind that to access these perks, you have to purchase both home and car insurance with TD.
❌ Long wait times for assistance
Some of TD’s insurance customers voice dissatisfaction with the extended wait times for assistance in their online reviews. These delays can be stressful for clients and indicate a significant inefficiency in the company’s customer service process.
TD vs. YouSet Home 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.
YouSet, for example, is a digital broker with over 300,000 users and an average online review rating of 4.9 stars. As an insurance marketplace, we partner with some of Canada’s top insurance providers and get them to compete for your business so that you ultimately get the best price year after year. But that’s not all. Here are some of the additional benefits of buying home insurance with YouSet.
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.
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 home insurance and buy it online at the best price year after year.
Transparent renewals
When your policy comes up for renewal, the YouSet team will make sure you’re paying the best price possible for it. If that’s no longer working, we’ll help you re-shop another carrier for a better deal.
Buy, manage, and renew your policy online
Whether you’re purchasing a policy, making modifications to it, or renewing it, with YouSet’s self-serve features, you can do it all online without ever having to make a phone call.
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.
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