Question about cancelling TD auto insurance after moving provinces
I currently have TD auto insurance in Ontario, with a monthly payment of $289.11. I started the policy on June 19, 2026, and I'm trying to understand how my payments work if I cancel the policy early.
Here is my payment timeline:
June 19, 2026: Policy started.
July 1, 2026: TD charged me $572 upfront when I took out the policy.
July 19, 2026: TD charged me another $289.11, as per my payment agreement.
Going forward: My scheduled monthly payment is $289.11. for August 19th,
Due to certain circumstances, I now have to move to Saskatchewan, where auto insurance is provided through the provincial system. Since TD does not provide auto insurance there, I had to contact TD to cancel my Ontario policy before the end of the policy term.
TD told me that I would be charged an additional $116 cancellation fee and that the $572 I paid upfront would be retained. I was also told that the $572 would not be applied toward my final month of coverage (September).
I spoke with an online TD agent/customer service representative, and this was the explanation I received:
**“**On a monthly payment plan, you can choose 11 equal monthly payments or you can choose double plus 10 payments; either way the number of payments is 11. The double down payment option: you just pay one extra payment to help lower the cost of the remaining 10 payments.”
This is my first time cancelling auto insurance before the end of the policy term, so I wanted to double-check whether this is correct.
My main question is: Is the $572 payment essentially an extra payment made upfront as part of the “double payment” arrangement, meaning it is not something that gets credited toward the final month when the policy is cancelled ?
Also, I expect to return to Ontario in a few months. Would it make more sense to keep my current TD policy active while I'm away and also get Saskatchewan insurance, or should I cancel the Ontario policy now and simply get a new policy when I return?
I'd really appreciate hearing from anyone who has had a similar experience with TD.
Thanks!
* AI was used in framing this query.