Meloche Monnex (TD Insurance) Home Insurance Reviews

I was not affected by the calgary flood. Roof blew off in a windstorm in 2011. It took three months for an adjuster to show up and inspect. I was told I had to take action to ensure no further damage but anything I spent may not be covered. In the end all was covered but it took 8 months for their contractor to replace the roof. I had a minor sewer back up due to a collapsed city sewer line. Quick response but poor cleanup by their contractor. I completed the cleanup myself. A registered letter has arrived saying that they will not renew my insurance next month.

I decided to go with TD 2 years ago. Find out that my premium has doubled in 2 years. Live in Winnipeg. Sorry what happened in Calgary and Toronto, TD. My $50,000 sewer backup is now $5,000. Over $1200 a year plus taxes for a 1220 sq. ft. house. $1000 deductible to boot. Been claims free for 16 years now. Can do a heck of a lot better than this elsewhere.

I recently reviewed the insurance on 3 properties and they all have increased on average 15% per year over the last 5 years. This increase is not in line with inflation and when questioned I am given the same response that they made a calculating error in their policies causing an disproportionate increase in claims. Furthermore my coverage is decreasing and limits are being set which no longer provide adequate insurance. My sewer backup limit has dropped to $15K from $61K and my premium for this coverage increased $12. Being familiar with the cost of claims I am well aware that $15K will likely only cover the cost of tearing a basement apart and drying it up but leave nothing for restoration or contents. I called to ask why my policy was amended and now under-insured and was told that all policies are now capped at $15K for sewer backup unless I purchase additional insurance. All 3 properties are rated by TDMM as a category 3 risk for sewer backup however the cost to increase coverage from 15K to 50K varies from $35 - $78 per year. They could not answer why the cost for the additional $35K of coverage would vary for properties in the same city, geographical region and risk group.
They also informed me it is my responsibility to know my insurance needs and they can change rates and coverage at any time.
In short I no longer trust TDMM as they are not looking out for me and helping me manage my risk but only care about their risk and their bottom line. If you are not an insurance expert I would stay away from TDMM as their policies are not designed to help you in your time of need.
BTW 10 years insured and never a claim.