TD Insurance is a well-known player in the Canadian insurance industry. That’s just a fact. But does that mean TD tenant insurance is the right choice for you? Not necessarily.
Part of the process of buying tenant insurance involves assessing established providers, like TD Insurance, which is known for its longstanding presence as a banking and insurance provider for Canadians. Despite that, TD Insurance, like any provider, has its drawbacks. Depending on your needs and preferences, you may see those drawbacks as either not a big deal or as a dealbreaker. That’s why it’s important to carefully weigh the pros and cons of TD tenant insurance before you sign on the dotted line.
✅ Well-known provider
TD Insurance, part of the TD Bank Group, is a household name in Canada and is known to be a key player in the banking and insurance industry.
❌ 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.
✅ 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.
❌ Mixed customer reviews
TD Insurance’s customer satisfaction ratings indicate that there is room for improvement. As of April 2025, they had a customer review rating of just 1.05 out of 5 stars on Better Business Bureau. This rating reflects a general customer sentiment, which you may want to factor into the decision-making process.
✅ Diverse product offering
TD offers a range of insurance products beyond just tenant insurance, including options for car, travel, life, and home insurance, making it a one-stop solution.
❌ Long wait times
Some of TD’s insurance customers voice dissatisfaction with the extended wait times for assistance. These delays can not only worsen already stressful situations but can make it difficult to get quick answers about urgent insurance matters
TD vs. YouSet tenant insurance
If the disadvantages listed above have you reconsidering your options, rest assured that there are alternatives to TD tenant insurance. Take YouSet as an example.
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.
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.
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.
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.
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.
Next steps
While there are certainly advantages to buying tenant insurance from TD, exploring alternatives like YouSet can potentially earn you big savings. Once you have done so, you will then be able to make an informed decision with the confidence that it works best for you as a tenant in Canada.