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 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.

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 have been with the company for twenty+ years. Now they refuse coverage for above ground water damage because my roof is older than fifty years - yet a tin roof is the best and most long-lasting. Also now limit sewage back-up to $15000.

I have had a claim resulting from Toronto flood, my total estimate was about 50K, they have only come up with 12K.

If you want to get a better home insurance, please go with State Farm, or RBC. not TD.

Don't waste your money thinking you are covered, because you will not be.

You might like the client service, but when it comes to actual claim, you will definitely be disappointed.

I am planning to take them to court and also going to media.

After being with this insurance company for 15 years with no claims, I received a call to informed my that the sewer backup policy will be changing from $100K to $15 K starting 2014. I however will be paying for the same premium. If an incident will ever happen what can $15K fix these days???

From Lethbridge, AB

Last year my basement was damaged due to sewer back up and water seeped in from foundation due to sump pump failure. Claim was denied. Only few clients were impacted so TD denied all the claims. Now TD is covering same type of claims in Calgary and High River only due to media pressure and their competitors are covering claims.

I should have gone to media at that time. I need to find a good lawyer and file a publice interest petition against this organization who changes it's stand on daily basis.

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.

Two weeks after submitting our claim, no adjuster has visited our home post flood in Sunnyside, Calgary to assess the damage. I have called several times and there has been no clear answers. After another hour on the phone today, I found out that no adjuster has been assigned to our claim yet and they have no timeline when our home might be inspected. Simply a customer service nightmare being passed around from one administrator to the next with no clear answers or insight. " I will send an email to my manager, who will send an email to their manager, and hopefully someone from that team will contact you in 24 hours..." Not a reassuring phrase.

TD Meloche Monnex denied our claims for sewage backup because of a loophole in their policy. This is going to probably be the ONLY heartless corporation that would actually rather see their clients homeless and forced into poverty (yet probably still try and get a substantial premium from them). There are no words to describe the ludicrous actions and unfathomable lack of support to their customers. As if the Alberta flood disaster wasn't hard enough, now being the only person on the block in High River being denied claims is heartbreaking. Thanks for nothing TD Meloche Monnex. I challenge EVERYONE to swtich their insurance provider away from these corporate scum bags who would rather take a 500 million profit then help those who provide to their profit. This is just absolutely disgusting and the overwhelming negative shaming from the public on social media will let everyone know they do not work for you, they only want your money and run.