New TD Insurance survey reveals three quarters of Gen Z and Millennial Canadians avoid reviewing their policies, overlooking possible savings wins
Canadians are hustling harder than ever to stretch their budgets, but when it comes to saving smarter, many are missing out. A new survey from TD Insurance reveals a surprising blind spot: only one-in-four Canadians(24 per cent)havereviewed their home and auto insurance policies for potential savings this year,though many could be eligible fordiscounts orsavings.
The poll found that not only are Canadiansoverlooking opportunities to save on their insurance,they often turn to a host of other unpleasant options rather than review their policies. More than half (52 per cent) saytheywouldratherassemblefurniture than reviewtheir home or auto policies, while otherswouldsooner deletetheir favourite social app or mobile game (57 per cent), calltheir boss “Mom” (45 per cent), dotheir taxes (43 per cent) or even sit in traffic (37 per cent).
YoungerCanadians areparticularlylikely to avoid reviewing their insurance coverage,with three-quartersof Gen Z (76 per cent)and Millennials (74 per cent) respondents saying theyavoid reviewing their home or auto policies, compared to 57 per centof Canadians.
Nearly all Gen Z (93 per cent) participants said they hesitate to contacttheir insurance provider about savings, far more thanthegeneral population (77 per cent). The reason? 34 per cent say they simply dislike “adulting.”
“We know Canadians work hard and are feeling stretched financially. That's why we want to make them aware of the many ways they could save on their insurance,” said Bruno Jauernig, Vice President, Executive Journey Product Owner, TD Insurance. “Being more informed about insurance options can help our clients feel more financially resilient, protect what matters most and discover new ways to save money.”
Thesavings struggle is real
Despitetheir best efforts, just over half (58 per cent)of Canadians admittheyaretired of worrying about budgeting and feel finding ways to save takes up too much time.The survey found many households are resorting to time-consuming measures or sacrificing daily pleasures to save money:
— 43 per centhave taken on a side hustle to supplementtheir income;
— 30 per centare selling unused clothes or belongings, while27 per centare returning purchasestheydon'tneed; and,
— 1-in-4 (24 per cent) are growing their own food to offset grocery costs.
When asked howtheywouldsave extra money each month, almost half of respondents (46 per cent)said they wouldcut back on dinner delivery or takeout and 38 per centwouldskiptheir morning matcha or daily coffee.
We're here to help
There are many creative ways to save, and including insurance in that mix can help make your monthly budget go further.
TD Insurance offers more than 30 ways to save on home and auto insurance, many of which only require a simple, one-time change to deliver ongoing savings without sacrificing coverage that's important to you. Whether it's bundling and/or saving with the Claims Free Reward on your home and auto coverage, or taking advantage of preferred rates for Alumni and Professionals, these savings can really add up.In today's economy, that extra breathing room can make a real difference for Canadians.
Aboutthesurvey This survey was undertaken byTheHarris Poll Canada.It ran October 8th to October10th, 2025, with1527 randomly selected Canadian adults who are Maru Voice Canada online panelists.Theresults have been weighted by age, gender, and region (and in Quebec, language) to matchthepopulation, according to Census data. This is to ensurethesample is representative oftheentire adult population of Canada. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±2.5%,19 times out of 20.
About TD Bank Group TheToronto-Dominion Bank and its subsidiaries are collectively known asTDBank Group (“TD” orthe”Bank”). TD isthesixth largest bank inNorth Americaby assets and serves over28.1million customersin four key businesses operating in a number of locations in financialcentersaroundtheglobe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks amongtheworld's leading online financial services firms, with more than18 million active online and mobile customers. TD had$2.0 trillionin assets onJuly 31, 2025.TheToronto-Dominion Bank trades underthesymbol “TD” ontheToronto Stock Exchange and New York Stock Exchange.
SOURCE TD Insurance
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