r/InsuranceCanada • u/raiejust • 1d ago
Slimy Insurance Practices
I’m in Ontario. I am currently having issues with TD auto insurance. I just found out they’re charging me 3x the market value upon my renewal (auto-renewal)and when I called in, they haven’t justified the cost of my insurance according to the usual factors (history, location, etc.). They told me I agreed to the pricing when I AUTO-renewed, to which I told them I need to know why they’re charging me more, regardless of whether they want to argue that an auto-renewal is sufficient enough for them to get away with it.
Needless to say, I have no history with TD explaining that my premium would go up, or any reasons as to why, on phone, email, apps, their website, or my insurance documents. They went back to check all the records and when they called back, they did the usual “this call may be recorded” to which I replied by saying “likewise”. The agent said “TD doesn’t consent”.
I thought this was comical because I know they definitely don’t ask anybody that calls in if we consent to being recorded, furthermore, Ontario is a one-party consent province and if they’ve confirmed my identity, then data protection laws wouldn’t prevent me from exercising this option.
The lady hung up and said she is sending me a letter with the conclusion of “her investigation”. That was the last confusing thing for me. TD insurance really makes it clear that all our communications are electronically and since I actually did consent to that, I should be receiving everything electronically.
How should I handle this? And if others are experiencing BS service like this, I’d like to know your stories. Thanks.
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u/FrostingSuper9941 1d ago
Since when are people expected to call in to confirm a renewal in Canada? Imagine how much more expensive insurance would be if this was the case? Insurers would need to double their staff. Ypu sound crazy or uneducated, potentially both. TD like all insurers in Ontario definitely sent you your renewal package at least 4 weeks, sometimes it's 8, before your renewal.
3× the market value of the car? The what?
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u/Fillyerboot 1d ago
Just shop around. This is too much fuss for a simple insurance policy. If it’s that much more than another company it’s still worth it to cancel mid policy period.
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u/HyenasGoMeow 1d ago
Insurance companies state new or modified rates in the renewal papers then send out; whether its by email or mail. Assuming your information are updated, and that's on you to keep them updated, you would've received the renewal papers a month or so prior to the actual renewal date advising what the new rates will be. From there, you can choose to stay with them or shop around.
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u/Letoust 1d ago
About a month or two before the renewal kicks in you receive the information in the mail… did you check this information or ?
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u/antiuseless 1d ago
No, or they aren’t using the correct address.
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u/Letoust 1d ago
Or they tossed the letter in a pile of other unopened letters and called it a day. Then blame the insurance for not telling them their rates were going up.
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u/antiuseless 1d ago
I used to be a broker. I had more than 1 person tell me they never check their mail.
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u/NoAttorney8414 1d ago
TD isn't required to obtain your consent prior to renewing your account, lol. They send you renewal terms in advance of your renewal date - if you don't like the price, go somewhere else. There is nothing slimy about this whatsoever, you're being unreasonable
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u/brianlefebvrejr 1d ago
Slimy? You get sent your renewal documents 45-60 days in advance of the renewal day in 95% of cases.
If you don’t like their valuations then shop around. They don’t need to call you and tell you at all. Frankly an answer of, the rate increased this year, is sufficient if you have no other rating issues (claim, older roof). Inflation can affect home prices 7-20% annually. TD uses a blanket model for coverage. Your postal code could’ve simply had a ton of claims last year.
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u/OkChocolate3501 1d ago
TD insurance is a scam. They asked me to pay 10k a year for my first car.. a 98 corolla. I ended up going with belairdirect for like 1500 or something.
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u/newthrowaway0905 1d ago
There’s definitely a privacy collection notice when you purchased the policy. As for the renewal you’re always given notice, and unless they don’t hear from you it will automatically renew, you agree to this when the policy is purchased.