TD Insurance Home Insurance Reviews

The overall price is reasonable if you can obtain a group rate. But the service is TERRIBLE. Wait times on their phone system is commonly an hour. TD Bank made 3.2 Billion dollars in profit during one quarter in 2019 and they cannot afford to hire more service personnel?!

Similar to other stories I have seen on here, when I started out with TD home insurance in 2010 my policy was $437 for the year, which by 2014 had increased to $ 1485 for the year. As an example - from 2012 to 2013 it increased by $266, despite never having filed a claim and no changes in the policy.
I am almost certain I'll see yet another increase when I get the renewal papers sometime in the next month, but I am DONE! When comparing insurance with many of my neighbours we are paying $600 -$700 more annually. It is time to shop around, and say good bye to these thieves.

I have purchased all my insurance from TD Meloche Monnex since 1994. During that time I have paid $55,762.86 in premiums and have never had a claim. Last year I was shocked when my home insurance premiums went up by 43.8%. I called to complain and was simply told that overall insurance costs were going up because of recent bad weather, notably the flood in Calgary. I didn’t flood, but I understand that insurance is a concept whereby several people pool their resources to spread the risk. I argued at the time that TD Meloche was obviously insuring too many high risk individuals. I naively accepted the increase in premiums.

Now a year has gone by, and I just found out they want to increase my premiums by an additional 24.2%. This is outrageous, especially considering the fact that TD Bank is making over $1 billion/quarter in profits.

I really didn’t feel like they appreciated my business so I decided to shop around. Wow, am I ever glad I did. Everyone I called was cheaper than TD Meloche. I’m sure you’ll argue that I’m getting less coverage. Let me assure you that I spent at least one hour discussing each quote with the prospective insurers, making sure I was getting equivalent coverage.

I decided to give my business to ScotiaLife Financial. My new policy is 41% cheaper than TD Meloche. How is that possible? I can only conclude that TD is trying to take advantage of people by using the flood as an excuse, or they’re simply incompetent and insuring too many high risk clients. Either way I don’t want to do business with them anymore.

TD has managed to totally piss-off a loyal customer of 20 years.

I have been an auto and home insurance client with TD Meloche Monnex for over 30 years. However, despite only 2 home claims being submitted, (1992 and 2008), they have increased my home insurance premiums a whopping 105% from 2011 to my 2014 premium of approximately $1,500. The main reasons provided for the increases is the jump in claims for sewer backup water damage attributed to more frequent and severe climatic incidents such as the flooding in the Alberta and GTA regions this past spring. They have also reduced my sewer backup coverage from $50K to $15K and increased my premium by more than $100. I was told I cannot increase my sewer backup coverage unless I install a sewer backup valve. They also refused to provide me with historical data to substantiate why my postal code area reflects the highest risk factor for backup. There have not been any major events in the area for the past few years. I have received multiple quotes at a significantly lesser overall premium, which include sewer backup coverage over $500k. Beware to current clients and consumers considering this company.

I have been with TD for 13 years and have multiple insurance policies. Despite being claim free my home insurance jumped an astronomical 700. All because the company has had huge payouts this past year. What happened to loyalty and claim free rates? I had a quote just today for 900 less. Advice - shop around and maybe they may realize they are loosing great clients.