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Why do different vehicles have different TD Insurance premiums?

The premium for two different vehicles can be different for a number of reasons:
Coverage - The type of coverage needed for a second vehicle can differ from the first if, for example, one of the vehicles has a lien on it. If it has a lien on it, it will require full protection.

Rate groups - No two vehicles belong to the exact same rate groups. Rate groups are used by insurance companies to determine part of the cost of insuring your car. Each make and model of vehicle is rated for collision, comprehensive, property damage and theft. These rates are determined by the Insurance Bureau of Canada, and are based on statistics from actual insurance claims, that is, on how often insurance claims have been made for each model of car, and how much those claims have cost.

For more information on rate groups, or to read How Your Car Measures Up (rate groups for the most popular makes and models of vehicles), click here.

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