Meloche Monnex (TD Insurance) Home Insurance Reviews

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.

They told us they tried to contact us for some "information" which they never did call us, we received a letter telling us to call them so we did, then they tell us we broke a rule and we're cut off our insurances and cannot go back with them for 5 years because we didn't give them the "information" they sent us a letter for. Which we totally have no darn clue what the heck they want as for "information"... Worst company ever dealt with for insurance, will never go again with them not even in 5 years, not for home, not for auto and especially not for life!!! Never had anything like this before! Not to mention the terrible customer service, it just goes on and on and on! Never again!!!

Customer service is totally unresponsive. I have never called and not heard that "they are experiencing higher then normal call volumes". Please just answer your phones ... They are not recommended!

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…

I applied for home insurance with them recently and after spending days running around to get all the info and getting the correct postal code for my property, they ultimately denied me getting coverage. Something to do with a gap in coverage between the day of my possession and actually finalizing the details with them. Apparently 1 day gap was enough to deny it which is ridiculous.

Our home insurance renewal just arrived, a 45% increase from last year. Upon further examination, I can see this is an overall increase of 240% from 2010. This after 9+ years no claims, no incidents.
TD letter states that 'there may be an increase in your home insurance premium. In order to continue to provide high-quality insurance to you at a competitive price'
How do they consider a $1485 annual premium to be competitive when our friends & neighbours are paying on average $500 - $650 for the same, or similar policies?
I can only assume that TD is counting on the majority of policy holders being either too busy, or too tired to care. I am both tired & busy, but I will make the time to shop around.

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!

After many years of paying premiums and nary a claim, this company denied my insurance application when my home became a rental property. The claimed that the denial was based on a "gap in coverage" when they were the ones who cancelled the insurance against my verbal request. They asked me many personal and unnecessary financial questions, kept me on hold and in the dark, literally for days before informing me that my application had been denied. Luckily, I found a much better, more reasonably priced policy at Morgex. I will tell everybody for as long as I live how this organization treats loyal clients. The best comment that I can give is that one of the staff, Angela, was quite lovely and tried to be helpful.