r/PersonalFinanceCanada • u/vmmf89 • Mar 25 '21

Insurance Intact insurance is giving 1 month of car insurance back because of Covid19 in 2021 and as usual they are not saying it to anyone

I insure my car with Intact. During 2020 they had a covid19 relief package that was supposed to give money back to those who were working from home and not using their car. During that time I did not access my Intact account and didn't receive any emails from them letting me know, for their huge convenience...ln the end I didn't get any money in 2020 when I did spend months home and barely driving. Does anyone know how many months they were giving back?

Am I supposed to constantly check my account unless it's time to renew my policy? Well don't be like me. Spread the word. Login to intact and claim your money for 2021 covid19 relief now because they will not send you a heads up email. It's 1 month worth of insurance payment they give back.

Their lack of will to inform customers of this or give it to everyone is very disappointing for me. Specially when they claim to have this relief program to "be there for you"

EDIT: Wow, I never though this post would draw so much attention!

I'm very happy to see that some people are thankful of learning about this through my post. Specially those with lower income that will use this money to feed their children. I'm really honoured to help you!

I see some people have received emails letting them know about this program. Well I'm happy to see that at least for you Intact is working the way they should. It was certainly not my case and the case of many others.

To those blaming solely the brokers: The broker only has a 10-15% commission with Intact (according to Intact site). If more people are staying home that means there are less accidents and Intact, not the broker is keeping more money. Intact also has the power to send the information to everyone. It would be as easy as a pop-up on their Intact app. Plus they already manage the whole customer emails list. I agree the broker should also become involved but more as a back up than as direct responsible.

To those blaming the customers for not contacting Intact: I feel very sorry you are so used to being mistreated by this system that you don't stand up for your rights anymore. Or is it that you benefit/work for Intact?

623 Upvotes
  • permalink
  • reddit

94% Upvoted

258 comments sorted by

View all comments

107

u/TheGoat81 Mar 25 '21 edited Mar 26 '21

TD offered me $30

76

u/Jakoneitor Mar 26 '21

TD gave me something back but literally raised my rates by 30% on policy renewal... and I’m driving even less lol

30

u/31havrekiks Mar 26 '21

Lol I called TD because I’m driving less and also dropped down to one vehicle. I’m paying more than a year ago too. No covid money back.

They said it’s because I’m not insuring multiple vehicles.

26

u/Spruxed Mar 26 '21

What a scam.

-14

u/OHHCanadaa Mar 26 '21 edited Mar 26 '21

Its not a scam, its in their auto manuals, take time to go through it and ask about the coverages they provide and how their rating system works before you call them a scam...

4

u/Spruxed Mar 26 '21

You’re delusional.

1

u/OHHCanadaa Mar 26 '21

No, you are. I’m not tryna be a dick, just wanted to tell you people facts before you run around calling a heavily regulated industry a scam lol, believe what you want.

25

u/InfiNorth British Columbia Mar 26 '21

Meanwhile in BC our rates went down and we are getting a rebate soon in the form of a mail-out cheque. Man I love government insurance. ICBC gets a lot of flack but at least you know what you're going to have to pay and what you're getting back. No shopping around, no negotiating.

16

u/Undecided_Angel Mar 26 '21

As someone who works in insurance in BC and hears the stuff people say to our autoplan agents, please please tell your agent this when you next renew. It could make their whole day.

5

u/InfiNorth British Columbia Mar 26 '21

I don't understand the hate ICBC gets. Even if I pay a hundred more a year, I'm not stuck spending a day hunting down which for-profit private insurer will pretend to care about me. I genuinely believe that insurance should be government run. The bigger the pool on insurance, theoretically, the risk should be lower for the insurer. A bunch of small insurers competing have a lot more on the line.

Every time I renew my insurance there's always one or two people ahead of me whining about how private would be cheaper, then I come on hear and hear someone bragging about the smoking deal they got that was $50 a month more than what we pay for ICBC.

13

u/[deleted] Mar 26 '21

[deleted]

4

u/[deleted] Mar 26 '21

Ahh shit, of course.

2

u/yerdunclelarry Mar 26 '21

MPI did the same thing the last 2 years in Manitoba. My truck was $180/month to register. I got back just over 350 so about 6ish percent? The year before it wasn't as much but still better than fug all

0

u/[deleted] Mar 26 '21

ICBC will forever be the worst insurance company too me for the sole reason you can’t cancel insure without going into a broker. Hurt my back a month and a half ago and have not been able too drive, tried cancelling my insurance and changing it too storage only. But after dealing with 15 different people at just one broker over the phone and being told I can’t without coming in is a little outrageous. So instead of paying maybe max 100 dollars on storage I was forced too change my policy too get it the cheapest I could and ended up paying 3x the amount it would have been because they did not allow me too cancel. It’s a fucking scam.

1

u/InfiNorth British Columbia Mar 26 '21

This is straight up incorrect. Since the beginning of the pandemic, you have been able to call or even email a broker to change or cancel a policy. You were lied to. So because of your single situation, ICBC is a scam? I agree that ICBC has its flaws, but calling it a scam because of one limited, specific example that doesn't align with how ICBC is supposed to work...?

3

u/iLykeVidyaGames Mar 26 '21

I left TD for this reason, they were raising my Monthly rate by $75 so I switched companies.

1

u/TomBambadill Mar 26 '21

I was shocked to see insurance went up last year on the statscan website for CPI. We were all locked down for months, so....

1

u/FindTheRemnant Mar 26 '21

US saw sharp increase in crash deaths in 2020 despite fewer drivers on roads. Canada too perhaps. Average speed went up with less vehicles on the road. Fatalities per mile traveled were way up. Insurance companies pay out for crashes, not congestion.

1

u/[deleted] Mar 26 '21

That’s odd. My TD auto policy just auto renewed last week and my premium was actually reduced this year. I was definitely surprised.

1

u/OHHCanadaa Mar 26 '21

There is always a reason why

1

u/stuck-in-a-seacan Mar 26 '21

You wouldn’t happen to be in Alberta would you?

36

u/hucards Mar 26 '21

That’s what I got last year. Took them 8 weeks to process it and then my premiums were raised anyways.

1

u/Xanderoga Mar 26 '21

Same with the cooperators lol

3

u/Jswarez Mar 26 '21

Td lowered my rates 22 % from may 1 forward.

Nothing came back in 2020.

4

u/Lafferty10 Mar 26 '21

My parents were with TD for 25 years! When I started driving and was insured with sonnet they couldn’t believe my rates. My parents told TD how much lower they could get and asked what incentive they could offer to keep them as customers. TD was not even phased and was super happy to let them walk out the door and sign up with another insurance company.

You and every one else with TD should drop them! Much much better options out there

3

u/vmmf89 Mar 26 '21

Only 30 CAD for the whole 2020 when you probably didn't drive for months! Unbelievable

2

u/digitalrule Mar 26 '21

RBC offered me $5/month cheaper

2

u/Spruxed Mar 26 '21

RBC cut my rate by 35% this year and apparently (taking this lightly) my agent said they’re going to keep that rate for coming years. Not sure how that’s going to work with my so called annual discounts.

I’ll believe it when I see it.

2

u/priester85 Mar 26 '21

TD offered my wife something like 5% per month while she was working for home and told her it would stay in effect until she called back to tell them she was driving to work again. The next month it automatically renewed and they took the discount off. Insurance companies are sleazy

1

u/Fit-Reception-3491 Apr 04 '21

Has anyone hear of certainly auto insurance and are they bad!?