Verified September 2026Cancellation fee guide

TD InsuranceCancellation Fee Guide

Name: CostExpert - Insurance Cancellation Calculator
Author: CostExpert

Official short rate table and cancellation fee calculator for TD Insurance (TD Meloche Monnex) policies

Verified against TD Insurance's published tableOwn schedule · 84 bandsNo minimum retained premium

Quick estimate

Auto schedule

Annual premium

Days in force

of 365

Earned

36%

of premium kept

Insurer keeps

$432

pro rata would keep $296

Your refund

$768

$136 short rate penalty

TD earned %Pro rata your day

21%day 30

28%day 60

36%day 90

58%day 180

82%day 270

100%day 365

Estimate only — confirm with TD Insurance before cancelling.Use exact dates

TD Insurance is the personal insurance business of TD Bank Group. It began in 1949, when Jean Meloche founded J. Meloche Inc. in Montreal; after being acquired by TD Bank Group the business became TD Insurance in 2001, and its group and affinity program is still marketed as TD Insurance Meloche Monnex. Home and auto policies are underwritten by TD General Insurance Company in Ontario, Primmum Insurance Company elsewhere in Canada and Security National Insurance Company for the Meloche Monnex program, all subsidiaries of The Toronto-Dominion Bank. TD reported $7,737 million in insurance revenue for fiscal 2025 across its property and casualty and life and health lines, and cites MSA Research data ranking it third among personal home and auto insurers in Canada for the first half of 2025. TD Bank Group served more than 28.1 million clients at October 31, 2025; TD Insurance does not publish a separate customer count. TD Insurance sells directly to consumers and to members of affinity groups and does not use independent brokers. Its head office is in Toronto.

When you cancel a TD policy before its renewal date, TD does not charge a flat administrative fee. It applies its own short rate schedule: 14% of the annual premium is retained for a cancellation in the first four days, and the retained share reaches 100% at day 346. The balance is refunded.

How TD calculates your cancellation fee

TD's schedule steps up every few days, from 14% of your premium retained in the first four days to 100% at day 346. To estimate your refund, find the row matching how many days your policy was active, read the “earned” percentage, and subtract that share from your annual premium.

On a $1,200 policy cancelled after 90 days, TD's schedule retains 36% ($432), leaving a $768 refund. A pro rata refund for the same 90 days would return about $904 — so the short rate penalty here is about $136. The gap between TD's schedule and pro rata is 12.8 points of the annual premium at day 30, 11.3 points at day 90, 8.7 points at day 180 and 6.8 points at day 300.

How to cancel your TD Insurance policy

TD Insurance handles cancellations directly by phone. Have your policy in hand and be ready to confirm the exact date you want coverage to end, since that date determines how much of your premium is refunded.

1Call TD at 1-866-361-2311
2Have your policy number ready
3Specify your cancellation date
4Confirm the refund amount
5Request written confirmation

Much of it hinges on how you paid; ask the TD agent handling your cancellation when and how the refund will be issued.

TD Insurance Short Rate Schedule

Based on $1200 annual premium

Your Annual Premium ($)

Find your day

Days in Force	Earned %	Refund
1–4 days	14%	$1,032
5–8 days	15%	$1,020
9–12 days	16%	$1,008
13–16 days	17%	$996
17–20 days	18%	$984
21–24 days	19%	$972
25–28 days	20%	$960
29–32 days	21%	$948
33–36 days	22%	$936
37–40 days	23%	$924
41–44 days	24%	$912
45–48 days	25%	$900
49–52 days	26%	$888
53–56 days	27%	$876
57–60 days	28%	$864
61–64 days	29%	$852
65–68 days	30%	$840
69–72 days	31%	$828
73–76 days	32%	$816
77–80 days	33%	$804
81–84 days	34%	$792
85–88 days	35%	$780
89–92 days	36%	$768
93–96 days	37%	$756
97–100 days	38%	$744
101–104 days	39%	$732
105–108 days	40%	$720
109–112 days	41%	$708

Days in Force	Earned %	Refund
113–116 days	42%	$696
117–120 days	43%	$684
121–124 days	44%	$672
125–128 days	45%	$660
129–132 days	46%	$648
133–136 days	47%	$636
137–140 days	48%	$624
141–144 days	49%	$612
145–148 days	50%	$600
149–152 days	51%	$588
153–156 days	52%	$576
157–160 days	53%	$564
161–164 days	54%	$552
165–168 days	55%	$540
169–172 days	56%	$528
173–176 days	57%	$516
177–180 days	58%	$504
181–184 days	60%	$480
185–188 days	61%	$468
189–192 days	62%	$456
193–196 days	63%	$444
197–200 days	64%	$432
201–204 days	65%	$420
205–208 days	66%	$408
209–212 days	67%	$396
213–216 days	68%	$384
217–220 days	69%	$372
221–224 days	70%	$360

Days in Force	Earned %	Refund
225–228 days	71%	$348
229–232 days	72%	$336
233–236 days	73%	$324
237–240 days	74%	$312
241–244 days	75%	$300
245–248 days	76%	$288
249–252 days	77%	$276
253–256 days	78%	$264
257–260 days	79%	$252
261–264 days	80%	$240
265–268 days	81%	$228
269–272 days	82%	$216
273–276 days	83%	$204
277–280 days	84%	$192
281–284 days	85%	$180
285–292 days	87%	$156
293–296 days	88%	$144
297–300 days	89%	$132
301–308 days	91%	$108
309–312 days	92%	$96
313–316 days	93%	$84
317–320 days	94%	$72
321–325 days	95%	$60
326–330 days	96%	$48
331–335 days	97%	$36
336–340 days	98%	$24
341–345 days	99%	$12
346–365 days	100%	$0

How TD compares

Retained share of the annual premium, TD against the standard industry short rate table used by Aviva, CAA, Pembridge and others: day 30, 21% against 15%; day 90, 36% against 31%; day 180, 58% against 54%; day 300, 89% against 86%. A pro rata split retains 8.2%, 24.7%, 49.3% and 82.2% at the same points. Among the other insurers with their own schedules, Intact retains 34% at day 90 and Desjardins 36%. The day-by-day figures for every insurer are on our short rate table.

TD also applies pro rata rather than short rate in the situations its rules define, one of which is a cancellation initiated by the insurer. Ask which basis applies to your cancellation when you request the quote, since that determines whether any short rate penalty is charged.

Before you cancel

The gap narrows over the term — the difference between TD's schedule and pro rata is 12.8 points of the annual premium at day 30, 8.7 points at day 180 and 6.8 points at day 300, and the retained share reaches 100% at day 346.
Multi-policy discounts — a discount that depends on holding more than one TD policy may end when one of them is cancelled; TD can confirm the effect on the remaining policy.
Two programs — TD Insurance policies and TD Insurance Meloche Monnex group policies are underwritten by different TD companies; the quote comes from the company named on your policy documents.

Frequently Asked Questions

How much is the TD Insurance cancellation fee?

TD Insurance uses a short rate cancellation table rather than a flat fee, so the penalty is built into your refund. On a $1,200 annual policy cancelled after 90 days, TD keeps about 36% ($432) and refunds $768; a pro rata refund would return roughly $904, so the short rate penalty in this example is about $136.

Does TD Insurance charge a separate cancellation fee?

No. TD Insurance does not add a standalone administrative cancellation fee. It applies a short rate calculation, which means the penalty is absorbed into the refund: TD keeps a larger "earned" share of your premium than a pro rata split would.

How do I cancel my TD Insurance policy?

Call TD Insurance at 1-866-361-2311, confirm the exact date you want coverage to end, return any documents if requested, and ask for written confirmation. Ask for the refund details on the same call.

Who underwrites TD Insurance home and auto policies?

TD General Insurance Company in Ontario, Primmum Insurance Company in the rest of Canada, and Security National Insurance Company for the TD Insurance Meloche Monnex group program. All are subsidiaries of The Toronto-Dominion Bank. The business began in 1949 as J. Meloche Inc. in Montreal and became TD Insurance in 2001.

How long does a TD Insurance refund take?

It depends on how the refund is issued: a credit to your original payment method is applied through your billing, while a cheque has to be printed and mailed. TD does not publish a turnaround, so ask the agent handling your cancellation for an expected date.

Sources & Verification

·Verified against TD Insurance's published short rate cancellation table.
·TD Insurance customer service line (1-866-361-2311) for current cancellation procedures.
·Company facts (founding, underwriting companies, insurance revenue, MSA Research ranking) from tdinsurance.com, TD Stories and TD Bank Group’s 2025 Annual Report; see docs/carrier-facts.md in the site repository for the full ledger.
·Reviewed by the CostExpert editorial team. Figures are estimates — confirm your exact refund with TD before cancelling.

Reviewed by CostExpert Editorial Team · Last verified September 2026

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