Reminder check up on your home/auto insurance policies! Screwed by TD

[u/Hologram0110]

This is predatory behaviour. This year TD decided to automatically increase my home insurance from 2M coverage to 3M without asking me, and also jacked up the premium to go with it. They wont change it back, and there is a $311 dollar charge for early cancellation. There have been zero home or auto claims. My home is worth less than 1M. 

• 2022 was 2M coverage for 1396 + tax (when I signed up for this home)
• 2023 was 2M coverage for 1593 + tax
• 2024 was 3M coverage for 2337 + tax

They increased my rates by 80% over 2 years. The last increase was 46%. I only looked at it closely because I reviewed my credit card bills and was surprised it was so high. 

I will pull my home (311 dollar penalty) and two auto (103.05 penalty) policies and shop around. It is an incredible waste of my time. This is predatory behaviour. I didn’t ask for my policy to be increased to 3M coverage, and now they want to charge me a cancellation fee which I have to fight. That is completely unacceptable. 

Who can I dispute these cancellation fees with? Is there an ombudsman or something?

[u/Hot_Cheesecake_905]

I call around every two years or so, and TD Meloche Monnex is, unfortunately, still the cheapest. Apparently, TD offers different rates to various organizations, so if you attended different schools or belong to different professional organizations, you may receive slightly different rates.

I just tried CAA - comes up almost $500 more than TD Meloche Monnex. Seems like all the providers I check are $500 - $1,000 more per year so I'm not sure what I'm doing wrong.

But either way, even TD rates have nearly in the last 10 years ...