Cannot opt out of Water Damage coverage!
by A. Janson on Aug 8, 2024
3.5 out of 5 stars
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Conned me into signing up, a few months later almost doubled my home rate
Been an Auto member for over 2 years now. Decided to ask for an updated house policy this time at renewal. They gave me a very competitive rate which overall matched what I was paying elsewhere. A few months in they decided to do a house inspection and then took another few months after that. Then decided I need to pay almost twice what they originally quoted! I have to switch back at huge change in premium, I'm now out about $500 - $800 due to this. Do not use TD home insurance or trust the rate they give you!
We have been a loyal customer with TD Insurance for approx. 14 years, house, vehicles etc. They have the nerve after 14 years to "DEMAND" that we install a new eavestrough on our house and they only give us 2 months to do it and it's smack dab in the middle of winter when there is 4ft of snow, ice and it's -20 temperatures. Not to mention it was over the Dec/Jan months when they demanded it be done and show the proof of a reputable company. We have NEVER made any house claims and we have NEVER missed payments on anything. I cannot tell you how ANGRY I am with them. And their letters always say "we're here to help" "you are important to us". What a load of CRAP! If this is how they treat a long time loyal customer... STAY AWAY !! And if the Rating was negative, I'd give them a minus 1000.
Are you a condo unit tenant? Remember that neither your condominium corporations' policy nor your landlord's insurance policy protects you as a tenant (3rd part liability, contents, etc.). If you do not have your own insurance policy, get your condominium insurance quote today.
I had auto and home insurance for almost 15 years with TD, I had a project travel and left my one bank account unattended, so just 1 withdrawal failed, when I came back, they already canceled my policy, and I asked to resume, they said that will be new policy and charged 50% more! It's like a thief! I would change to Royal bank, even 2 times original money!!! Let alone Royal Bank is much much cheap then TD TMD
I have been a customer of TD Canada Trust since I was still in my university, I get a bundle discount for home and auto with TD.
I chose a $20,000 deductible (I am only concerned about major loss) and the premium was very good. Unfortunately, I HAD to also buy “water damage” insurance and the coverage limit is $25,000. With my $20,000 deductible, there is very little coverage for me…. I wanted to opt out of water damage, but TD insurance wouldn't let me. The water damage insurance is 12.4% of my premium, and it is wasted money in my opinion.