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TD Meloche Monnex
Category: Financial Services Insurance Insurance [Edit]
2161 Yonge StToronto, ON M4S 3A6
Neighbourhoods: Mount Pleasant and Davisville, Yonge and Eglinton
(416) 484-1112
2 reviews for TD Meloche Monnex
2 reviews in English
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Review from Jimi S.
ON
1/9/2009
ive been using td meloche monnex for my house and car insurance for a number of years now they have always been quite efficient in terms of sending me copies of insurance documents if ive misplaced them...which inevitably, happens at least once a year.
when i had a car they worked with me to give me the best deal possible, though not without my prodding - can you expect anything more from an insurance company? doubt it. plus, jesus, use some of my premiums and get more operators so i dont have to wait on hold for fifteen minutes.
anyhow, i ended up getting pretty good deals on my car insurance and my home insurance and unless there is something phenomenal that comes up in the world of insurance these guys seem fine. -
Review from bold c.
Toronto, ON
4/7/2011 1 photo
MONNEX WILL
1. NOT INDEMNIFY YOU!
2. NOT RESPOND WHEN YOU MAKE A CLAIM!
PLEASE AVOID and GO WITH ANY OTHER INSURANCE COMPANY!
SERIOUSLY THEY ARE THE WORST IN THIS SEGMENT!
2 Minute Summary
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1. Price - Very Reasonable - on the lower price range for auto and house insurance - then ask yourself why?
2. Service - Forget it - Non existent - Do not fool yourself
3. Insurance Coverage - the reason they have the lowest rates is THAT THEY DO NOT OR AVOID PAYING OUT on LEGITIMATE auto or house claims - they attempt to curtail their losses by adopting every trick in the book to not paying reasonable costs
4. ENGAGE as a client - If you are a lawyer wanting to spend your free time (cost is free) getting them to indemnify your policy claims (meaning getting them to comply with the FISCO legislation governing Insurance firms)
5. QUICK to Insure you - Turn around to get your business is same day or within 24hrs - this is good if you need insurance in a hurry - the bad part is that 95% of their efforts are on getting your business and less than 5% on processing accident benefits and claims - they are woefully inadequate in this service driven industry
6. Meloche Monnex - consistently ranks amongst the worst insurance companies within Ontario and Canada for customer complaints (check out their ranking at FISCO - Insurance industry's governing authority's)
7. LOYALTY - target students whom they have created AFFINITY programs with their UNIVERSITY - be warned the prices do not justify zero service - this is not a discount insurance company
RECOMMENDATION:
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I wish I was the first to review this company.
If I can help one Canadian to avoid the headaches of this firm I would consider my Yelping complete.
The humble fact is that this insurance is repeatedly non-compliant when it comes to indemnifying their clients or following correct industry protocols for processing claims. Check their track record. It is bad.
I have used them (in the past) as have family and friends. No one I have seen attempting to get a claim resolved has had any satisfaction with this firm. They really are deficient in this area.
My colleagues within the insurance business warned me against them. I wish I had heeded their advice.
The former Meloche company was a family run business with strong ties to universities. *hence discounted rates. They used to be a very innovative and a well run company.
WHAT HAPPENED???
TD Bank acquired them and merged them with their insurance division during the deregulation periods. Apparently the BANK forced cost management containment policies into the Meloche insurance process. It was not a good mesh. According to friends, they lost senior management and trained staff. There was a conflict in management practices and ideology employed. The new practice was get a large percentage of business but NEVER PAY OUT A CLAIM.
Seriously ask your medical practitioners. Doctors, physiotherapists, chiropractors, Registered Massage Therapists (RMT), Accident Benefit therapeutic firms or any health practitioner will give a general consensus. The nerw TD Meloche Monnex is 180' from the old firm. They waste both the insured party and medical practitioners time. The level of paperwork is ridiculous. The payments (if and when) they come are insufficient.
THIS IS WHAT TO EXPECT AS A MONNEX CUSTOMER
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MONNEX will WASTE your TIME with documentation, DACS, medical assessment, refuse to return your calls, release your medical documentation and information. Not pay their bills to auto repair shops and car rentals as well as delay payments for basic medical coverage for years.
Recommendation: CHOOSE ANY OTHER COMPANY
Pay the additional 10% difference. This decision alone with pay off with huge benefits. Meloche is only good for customers who will never ever under any situation make a claim. If this is you choose the lowest coverage with the lowest premium required for your house or auto and hope you never have to make a claim.
For the RECORD I never had made a prior claim in my life. This was the first for me. Absolutely horrible experience. Really cannot document how bad it was....the other reviewers are also stating the truth.
Monnex really needs to improve.
