Where to get car insurance

Whether you lease, finance or own your car, in Ontario this is the minimum amount of required coverage you need to have by law to protect yourself and your loved ones.
Liability Coverage: If you injure someone or damage property, payments are made on your behalf.
Direct Compensation: Damages to your car are covered if you’re not at fault.
Uninsured Automobile Coverage: Medical costs and damage are covered if an uninsured driver is at fault.
Accident Benefits Coverage: Regardless of who is at fault, medical and other expenses you are entitled to receive are covered.
Learn more about the Ontario Auto Insurance Reform changes
Learn more about Car Insurance
How Does Car Insurance Work?
Whether you lease, finance, or own your car, it is mandatory to have car insurance. However, in order to be eligible for car insurance, certain conditions and restrictions apply.
To begin with, you (and all drivers you wish to include in the policy) must have a valid driver’s license and be a resident of Canada. Next, insurance companies will look at your prior driving record to determine eligibility and rates. However, rates will vary depending on whether you are looking for a new insurance policy altogether or if you wish to renew an existing one. Other eligibility restrictions may arise from past convictions. This too, will vary depending on when your last conviction occurred and the nature of the conviction.
Other insurance conditions may arise depending on the type of vehicle, its use, and any customizations or modifications made to the vehicle. For example, if you have altered your vehicle to enhance its performance or appearance, most insurance companies would need to assess the vehicle to determine if they could insure it. If you plan on modifying your vehicle, call us first! We will let you know if the changes you plan on making could have an impact on your policy.
Other factors that may also prevent an insurer from issuing you a policy:
Your vehicle has substantial unrepaired damage or is deemed unsafe
Your vehicle is rented or leased to others
Your vehicle is used for racing or competition
Learn more about Car Insurance Eligibility and Restrictions
Make sense of your Car Insurance needs and options
TD Right Fit Coverage Assessment
Find the car insurance coverage that best fits your needs.
How Much Does Car Insurance Cost?
There are a number of factors that determine how much your car insurance will cost. Here are 7 of the key factors that insurance companies take into consideration when calculating your car insurance premium:
Your car: The make, model, and year of your car can affect your insurance premium. This determines the cost and value of the car, safety features, and repair costs.
How often you drive: The number of kilometers you drive your car per year will affect your insurance premium.
If you use your car for commercial purposes: If you use your car for work purposes (other than commuting), you may need to get commercial car insurance. Your business may require a higher liability limit.
Your driving record (and the records of all drivers who use your vehicle), which includes: The number of years you’ve all been licensed for. Convictions due to driving infractions (which includes speeding tickets). Accidents.
Where you live: Premiums are usually higher in and around large urban areas
The coverage you choose: The more adequate the coverage, the more it will cost to insure your vehicle
Special discounts: Belonging to a preferred group for professionals and alumni. With TD Insurance you can select up to three eligible groups!
Learn more about how car insurance premiums are calculated
Ways you can save
Bundle car and home insurance.
Drive a hybrid or electric vehicle.
Insure two or more vehicles.
Have an approved anti-theft system installed.
How to Save On Car Insurance?
Here are a few simple tips to save on car insurance:
Insure all your cars with the same insurance provider so that you can save on insurance.
Insure both your car and home with the same company so that you qualify for a «multi-line discount.»
Increase your deductible – the higher it is, the lower your insurance premium will be.
Think about removing collision coverage if you drive an older car. This means weighing the cost of the collision coverage with the value of your car and chosen deductibles.
Maintain a great driving record – the safer you drive, the more you could save. By downloading and using the TD MyAdvantage app, which collects and analyzes driving data, you could save up to an additional 25% on your premium!
Consider driving a «low-risk» vehicle. Since insurance premiums are based on previous claim history, the more likely the vehicle is to be stolen or in an accident, the more you pay for insurance.
If you are a new driver, take a driver’s training course (available in select locations).
Have an approved anti-theft device installed in your car. TD Insurance premiums factor in a discount if you have an approved factory installed anti-theft device.
Switch car insurance providers. TD Insurance offers a new business discount to new customers.
Get a quote! As a resident of Ontario, you will automatically qualify for a 5% discount on eligible coverage* if you complete a car insurance quote using our online quoter right now. What do you need to get a car insurance quote? Simply provide us with your postal code, VIN, estimated annual mileage, and some specifics about your driving history.
Learn more about how to save on car insurance
You could save up to 25% on your car insurance premium with TD MyAdvantage
Introducing TD MyAdvantage, a usage-based insurance savings program that is 100% voluntary and free. The safer you drive, the more you could save!
You could reduce your deductible by 10% each claim-free year.
Be rewarded for your good driving record. Find out how you can save on your car insurance.
How to Get a Car Insurance Quote in Ontario
Driving in Ontario may mean that you are headed down the 401 during an icy snowstorm, or sitting in traffic on the Gardiner Expressway, gazing at the summer skyline. When inside your car, feel confident your coverage fits your needs.
As a resident of Ontario, you will automatically qualify for a 5% discount on eligible coverage* if you complete a car insurance quote using our online quoter right now. The personalized quote will also be emailed to you so you can refer to it at any time. If you want to save up to an additional 25% on your premium, download and use the TD MyAdvantage app!
Keep in mind that the minimum car insurance coverage required is determined by the Government of Ontario and may vary in comparison to Alberta, New Brunswick, Newfoundland/Labrador, Nova Scotia, Prince Edward Island, and Quebec. In addition, premiums can vary depending on the area in which you reside, typically being higher in major urban centres, such as Toronto.
However, the online quoter will show you some ways you can save. Take advantage of preferred rates for alumni and professionals by selecting up to three eligible groups!
Choosing the Right Coverage
Your car insurance policy must include some coverage to protect you financially against major risks. Here are three types of coverage that are typically required.
Protection Against Liability Claims
Liability Coverage (civil liability coverage in Quebec) protects you financially if you are legally liable for injuring someone or causing damage to another person’s property or automobile while operating a motor vehicle.
Minimum required: Depends on province or territory
Recommended: You may need more than the minimum set by your provice or territory. Get advice from an RBC Insurance Advisor for the right amount for your situation.
Protection Against Injury or Death
If you are injured in a motor vehicle accident, Accident Benefits coverage can help replace your lost income or pay for medical, rehabilitation and other expenses not covered by government health insurance.
It can also provide benefits to your spouse or partner and dependent children if you are killed in an accident.
Minimum required: Depends on province or territory (not required in Quebec or Newfoundland)
Recommended: Standard coverage, unless you don’t have sufficient disability insurance*
*Ontario residents can increase coverage
Protection Against Uninsured or Unidentified Drivers
Uninsured Motorist or Automobile coverage provides benefits to you or your family if you are injured or killed by an uninsured or unidentified driver.
It also helps pay for damages to your vehicle if they’re caused by an identified uninsured motorist.
Minimum required: Depends on province or territory (not offered in Quebec)
Recommended: Standard coverage, unless you don’t have sufficient disability insurance**
**You can supplement coverage with the Family Protection endorsement.