Meloche Monnex (TD Insurance) Home Insurance Reviews

I am writing to express my extreme displeasure in working with TD Meloche Monnex. I had taken up a coverage with TD last year after we moved into our new home last year in May. I had taken the policy up as it offered some options that my earlier provider Co-operators was not able to cover. Although the premium was higher by almost $ 300 then I took up the policy.
This year towards the renewal period (May 21st) I was told that the policy premium will go up for $ 65 to $ 88 a month on grounds of Alberta Floods. I hate the time of this discussion and questioned the logic of increasing the premium by over 35 % as it was widely in the news to expect a 10-20 % increase. I was told by the agent over the phone that we will need to accept it as this is the rate..

I had at that very moment decided to shop around for alternative provider as it just did not feel right. The cherry on the icing is that when I eventually managed to get a lower 17 days into the renewed policy I was asked to pay a $ 133 short rate fee !!!!!

This seems more like a case of capitalistic arrogance to me. The whole situation is completely controlled. I have to accept the changed exorbitant premium or pay an extra 133 $ for leaving you. The clock starts ticking from the first day of the policy. Best part of the story is that I have to suck up and live with this as I am pressed for time and feel that most others similarly placed people would be.

I am fully aware that TD does offer very different rates to different customers and have clearly witnessed that when Mortgage shopping.I have been banking with TD for 2 years and feel my loyalty with the company has not paid off at all. TD lost out on our mortgage business also due to their lack of responses and I ended up getting offers when they realised I had secured my business somewhere else.

I am a lay person in insurance business but I would understand most companies would underwrite risks with similar parameters which I assume are regulated to some extent. I hate to say that with identical and in some cases better coverage offered by competitor is at a much lower price.

Why should I be paying high premium for a a set up which does not offer even to discuss the policy in detail.Is it my contribution to the high salaries in the corner offices in TD or towards some financial blunders that you might have done and I have to pay for.

On a side note I have clear evidence on the premium hike as I have a quote from Cooperators dated last year April and this year vs TD to indicate the range in differences, which to me should be in similar nos considering all other parameters around it are equal. I would assume both companies had similar write off's due the recent floods. Here again these nos show that the premium hike has no logic and has been done more for an opportune cause than just.

Best part of the story.. 3 email follow ups to customer service to even get an acknowledgement.

I pay 3 times higher rates than my friends and neighbours because I'm stupid enough to go with this company. I am cancelling my insurance with them before my policy renews. When you call to ask them to reduce it because it's so ridiculously high all they do is put 20 year olds on the phone who READ you stuff straight from their policy instead of talking to you like a person with a mortgage like a 20 year old wouldn't have anyway…

Raised rates by 25 % for no logical reason; no claims

And everytime they renew they reduce coverage of one thing or another.

Terrible communication and customer contact

AND they don't care!

Mine increased by 45% due to floods in Calgary and Ice damage in Toronto. I am currently with TD Home/Auto and they said they have increased everyone's from 25% up to 72% from last year. My increased was another $200 per year. BTW, I never had a single claim in all my years of owning a home. As home insurance is not regulated "from the manager", they are able to spread their loss across Canada.

I do not live in or near Calgary or Toronto and I am being penalized so they can recover their loss! Definitely looking at other insurance companies and I am spreading the word around to my friends and family!

Had a renters insurance policy for a few days with them, the quote they gave me to start was several dollars a month less than what they ended up charging me. Found an other company that gave me renters insurance for half of what TD would. Ended up cancelling the TD insurance yet was charged a 69$ cancellation fee I was never told about. They wouldn't negotiate at all on charging me this. Would not recommend this company to anyone. There's going for profits then there's gouging people at every opportunity. Seems TD is the latter.

We have had Meloche Monnex ever since they took over Liberty Mutual (+10 years) and in recent years the home policy has been creeping up and even though we never had claims. Every time I called, seemed they change their coverage and/or gave excuses on taxes/ gov't changes. I had always not bothered to look around. Now, I finally did and got much better quotes elsewhere and including Auto. I suggest to shop around when your renewal takes place.

I just had my first claim experience after being with TD for 6 years with insurance coverage on two homes. Good luck speaking directly with the adjuster, contacting any management or getting a straight response. Since November 20th when a flood occurred in my house after a rain storm I have received no clear answers until now as to whether I was to receive coverage. Each time I prodded for a response over email, TD would pull out a new exclusion and indicate that this was likely going to be used to deny coverage. Ultimately I've now been denied coverage and will need to take it up with legal. Go anywhere else but here! As noted in my final email to the adjuster, it isn't so much the rejection of my claim that bother me. Rather, it is the immense waste of my time trying to communicate with the adjuster and the nonsensical responses received.

The customer service is good but the rates are astronomical! I will be saving $80/month going elsewhere and having the same coverage. I called Meloche to see if they could reduce the cost since I have been with them for 4 years and they said this is the best they can do.

I have been on-hold for an hour and a half to make my annual payment for my home insurance. Terrible service!. Avoid these guys at all costs.

TD is a ripoff. I'm going to start shopping around. I had to fight with them the last two years already because of ridiculous increase amounts that doesn't even fall in line with the anticipated market increases that is stated throughout the news due to weather conditions in Alberta. Mine has tripled (300%) over 3 years and that is after going for a bigger deductible and less coverage to try and minimize the premiums. I have been with TD for over 10 years and this is what they do to loyal customers. Imagine what happens to those that just signed up with them!

TD, I hope you are reading these responses, as you will hopefully go bankrupt when people start leaving in droves when they start shopping around and realize what a scam company you are.