I think TD Monech is the company giving best rates in this rip-off industry. There compensation settlement is also very good. Here is my story...

I have been with TD for 2 yrs now and had been paying $220 combined, for two vehicles. 1997 Nissan Maxima and 2002 Cheve Venture.

Before that I had been with RBC for 1yr and was paying $240 for single car and on renewel they increased the premium by $80/month for just no reason. On questioning they said there have been lots of claims this yr, every body premium is increased. Therefore i switched to TD.

Last year on a rainy day in january 2004, I hit a van from behind with my maxiam at a speed of 20-25km/hr. The damage was minimul. We agreed to not go through insurance and I will fix his van instead, he was suppose to call me when and where. But for some reason he went to the insurance. To my astonishment I recieved a letter from TD about the claim. I was shoked as i have heared stories how insurance company kills you if you are at mistake with thousands of dollars premium increase. The policy was to be renewed in feb 2005. Today I recieved the policy with increase in premium. Thank god it was only $600 increase . So i am now paying $272 for both cars. The minimum i was expecting was at least $1500 increase.

Abhishek

Wow ! The insurance nightmare seems worse and worse with every new story I hear.
In your case, did that guy register a case with the local police dept.?
If not, then he literally fled the accident scene - and so did you.
Did you tell your insurance company that a police report has not been filed?
It would be interesting to see what would have happened if you had said so.

Even if both of you mututally agreed not to file a claim through insurance, the accident still needs to be filed with the police.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

You can only file a police complaint if the damage is more then $1000. They dont even register the complaint if its any thing less then that.

So you are saying your insurance rates increases by more than $600 a year for one single claim that was less than $1000 - this is plain simple daylight robbery - a rip-off.

I think the highway robbers in the old wild west were more ethical than the insurance companies in Canada.

On the one hand, Canada claims to have a regulated health care system, but on the other hand, have this huge private insurance racket going with the insurance companies, law enforcement, and the govt. - all involved.
Shameful and disgusting.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

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Orginally posted by atyagi

I think TD Monech is the company giving best rates in this rip-off industry. Abhishek

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You have 2 options,
Either contact a lawyer, or just pay $20. You don't want collection agency to be behind you like mad dogs. I have delt with these agencies and had very bad experience. I was sent $320 notice by these collection agencies on a card fraud. Somebody used my identity to issue the card. But as i was not a fault, i was able to swim out of it. But it took almost 8 months to clear this mess.

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Orginally posted by Mohanjeet


I switched from TD to RBC ,kept TD for 5 months and then cancelled in between the term but these clever guys didnt say a word about the premature cancelation infact told me that they will refund the last payment advance with minor deductions in five business days.
And now when i have taken another insurance they have not only kept a sum of $ 160 my last advance payment but are also demanding 20 more dollors as dues,or otherwise they will send it to collection agency .
Any Remedy....?

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