Automotive

Td auto insurance

  • Last Updated:
  • May 11th, 2014 10:48 am
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON

Td auto insurance

I put down a $1000 deposit on a 2005 Mazda6 Sport Wagon and I will buy it next week upon the condition that it passes pre-purchase inspections.

TD bank sent me an a paper application. They refuse to service me over the phone. Specifically the service reps told me "the system requires you to send in a paper application."
My dilemma now is it will take 3-4 days for the application to get to TD insurance and another 2-4 weeks for their response (as stated on their letter).

How can I obtain insurance from them if I buy the car next week from the dealership? Given that the pre-purchase inspections go through. Wouldn't I need the insurance to complete registration of the vehicle with MTO?
Also MTO requires registration of vehicle within 6 days of purchase.

The reason why I would prefer TD, is that I am graduating from the on June 2014. Ryerson graduates get preferred rates from them.

I called Intact insurance and got a quote for $377/month. I don't understand why TD cannot do the same. If I went with Intact I might be losing out on the TD discount for my school. Furthermore, Would I be able to cancel the Intact insurance and switch to TD? I just need to register the vehicle with MTO anyways and I need insurance to do that.


Additional Background info:
1. first time car buyer
2. no previous auto insurance
3. no driving record
4. G2 holder


Please give me some advice or tips.
24 replies
Deal Expert
User avatar
Oct 13, 2009
21199 posts
10691 upvotes
Iqaluit, NU
is there any meaning to the american flag in your post?
Deal Addict
Feb 20, 2014
1264 posts
475 upvotes
Toronto
It's simple, they don't want to insure you so they're making you go through the longer process hoping that you'll find another insurance company.

When I got insurance, I did it over the phone and it was instant.
Deal Expert
User avatar
May 10, 2005
36357 posts
10598 upvotes
Ottawa
As you know what TD will charge you, walk into any Broker and tell them you need car insurance and let them know what the TD will charge you.
I am 100% certain that they can at least equal, but more likely get you a better rate and, you will have insurance within the hour.
Deal Addict
Feb 17, 2012
1886 posts
591 upvotes
ORLEANS
Try belair direct. We pay 6k with the big name companies but belair charges us 4.9k
Deal Expert
Feb 24, 2007
15094 posts
2695 upvotes
Jenuine wrote: It's simple, they don't want to insure you so they're making you go through the longer process hoping that you'll find another insurance company.

When I got insurance, I did it over the phone and it was instant.
^^^^^^

this

They can not legally deny you insurance so this game is employed to tell you.."get lost". Find another auto insurance company.
Jr. Member
Apr 20, 2014
144 posts
8 upvotes
Toronto, ON
I had exact same problem you are dealing with, I was sent an application I filled it mailed it and it took over a month for them to process it. In the end I chose a broker but I think you are dealing with TD general you should give TD meloche a call they will quote you right away.
Deal Fanatic
Aug 4, 2005
8230 posts
889 upvotes
Brampton
I would just go with whoever is cheapest right now and then next year shop again when you obtain your discount.
Deal Expert
User avatar
Jun 12, 2007
18355 posts
5966 upvotes
London
Azeez35 wrote: I had exact same problem you are dealing with, I was sent an application I filled it mailed it and it took over a month for them to process it. In the end I chose a broker but I think you are dealing with TD general you should give TD meloche a call they will quote you right away.
+1, there's 3 different TD auto insurance companies and they seem to be independent of each other, but use very similar websites:
TD General
TD primmum
TD Monnex Meloche
Jr. Member
Apr 20, 2014
144 posts
8 upvotes
Toronto, ON
Am sure it's TD general that requested you to fill an application. Meloche will give you a quote with requesting you to fill an application.
Deal Addict
User avatar
Aug 3, 2009
2154 posts
609 upvotes
Nova Scotia
TDMM is online and over the phone. Was $945 for my gf to insure 07 Mazda 3.
Deal Expert
Feb 24, 2007
15094 posts
2695 upvotes
jmatheson64 wrote: TDMM is online and over the phone. Was $945 for my gf to insure 07 Mazda 3.
The pricing of auto insurance is very much dependent to you location. I would guesstimate your gf would be paying 60% more if she were living within GTA.
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
nasa25 wrote: is there any meaning to the american flag in your post?
oh not really , just wanted to stir some ***** up lol
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
Jenuine wrote: It's simple, they don't want to insure you so they're making you go through the longer process hoping that you'll find another insurance company.

When I got insurance, I did it over the phone and it was instant.
thats what im thinking too. the paper application is so inefficient + waste of resources. Dont they know Canada Post reduced some of their services. geez
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
Pete_Coach wrote: As you know what TD will charge you, walk into any Broker and tell them you need car insurance and let them know what the TD will charge you.
I am 100% certain that they can at least equal, but more likely get you a better rate and, you will have insurance within the hour.
Does it have to be a walk in? or Can I all over the phone?

If walk in, do you have any suggestions of brokers?
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
Palidino wrote: Try belair direct. We pay 6k with the big name companies but belair charges us 4.9k
thanks for the suggestion. I will call them tomorrow for quotes.
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
eldiablo wrote: ^^^^^^

this

They can not legally deny you insurance so this game is employed to tell you.."get lost". Find another auto insurance company.
if thats the case, I lost all my respect for TD.

switching to the biggest bank in Canada soon. RBC!
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
THANK YOU! I looked at the number and its TD general insurance.

I will call TD Meloche Monnex tomorrow.
[OP]
Newbie
Apr 29, 2014
60 posts
East York, ON
jmatheson64 wrote: TDMM is online and over the phone. Was $945 for my gf to insure 07 Mazda 3.
thats way too high if thats per month? or is it annual?
Sr. Member
Oct 24, 2006
648 posts
77 upvotes
Toronto
eugeneTO wrote: thanks for the suggestion. I will call them tomorrow for quotes.
I filled out a quote online .. cheapest by far. A month later a rep called me and offered a rather nice discount from the initial quote. They asked me questions to confirm the info from my quote, and I had it all setup in 15 mins. Also, the next day i had my temp pink slip emailed to me while I waited for my welcome package in the mail. Impressed so far.

2 Minor tickets on my record with no insurance history in 6 years.. $100 a month.

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