TD wants to chase away all customers | GTAMotorcycle.com

TD wants to chase away all customers

Corsara

Corsara

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Just got my 2005 Yamaha FZ6 renewal notice. My premium last year was $696 while the new renewal premium quoted is $1,025. In my books that's about 50% increase!

I immediately called and spoke to an agent. He put me on hold "to do some research for me", and then said that "there were too many claims for that kind of bike". I'm fed up with this BS! I've got my car and my house insurance with them too, and I'm seriously thinking about switching. Nothing in my driving record has changed, I don't deserve the premium increase!
 
corsara said:
just got my 2005 yamaha fz6 renewal notice. My premium last year was $696 while the new renewal premium quoted is $1,025. In my books that's about 50% increase!

I immediately called and spoke to an agent. He put me on hold "to do some research for me", and then said that "there were too many claims for that kind of bike". I'm fed up with this bs! I've got my car and my house insurance with them too, and i'm seriously thinking about switching. Nothing in my driving record has changed, i don't deserve the premium increase!
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ouch...
 
Corsara said:
Just got my 2005 Yamaha FZ6 renewal notice. My premium last year was $696 while the new renewal premium quoted is $1,025. In my books that's about 50% increase!

I immediately called and spoke to an agent. He put me on hold "to do some research for me", and then said that "there were too many claims for that kind of bike". I'm fed up with this BS! I've got my car and my house insurance with them too, and I'm seriously thinking about switching. Nothing in my driving record has changed, I don't deserve the premium increase!
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That's a really big one-time increase and definitely time to start shopping around. Give State Farm a shot to see if they can offer a better rate on your Bike/Car/House package.
 
I just called Holman Insurance and the broker told me I won't get a cheaper rate than what TD has given me. He didn't even ask me what TD wanted me to pay...
 
Slono said:
I just called Holman Insurance and the broker told me I won't get a cheaper rate than what TD has given me. He didn't even ask me what TD wanted me to pay...
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Only State Farm and TD will be competitive for SS bikes.
 
VifferFun said:
Only State Farm and TD will be competitive for SS bikes.
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I've just sent an email to a State Farm agent. I included all info I thought they might need to make a quote. I'll post back here once I get a reply.
 
Call everyone... not just one broker but 10 and all insurance companies. Dont base your choice over one phone call.
 
I own a 2011 Kawasaki Ninja 250. The problem is that I haven't had my license for 1 year yet (got it in June 2011) and I'm not 25. Are there any companies that will adjust the payments for when I turn 25 (July 2012), and will have had my motorcycle license for a year even though I have purchased a policy with them earlier in the year?

Edit:
I just got off the farm with State Farm and they're willing to adjust my rates midway through my 12 month policy term when I turn 25 in July. Are there any other companies that will do the same so I can compare rates with State Farm?
 
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I too got my renewal notice from TD and was shell-shocked. I honestly believe that this year i'd see a significant drop in rates because i turned 21 and would have my license for a year.

They first insured me from JUL-11' to MAR-12' (8 months) for $2400 .. even if i extrapolated that to 12 months, i'm looking at ~$3600/yr

They offered me the exact same coverage for $3979

I'm pretty much on the same boat as Slono: I'm 21, 2011 250R i got my M1 JUN 11' and M2 Aug 11'. Absolutely ZERO tickets & At/Not-fault collisions since i first got behind the wheel in Nov 2006.

I just got off the phone with State Farm and Serafino Lantorno told me he'll call back tomorrow because he said State Farm may have changed their policy, where drivers need to be driving for atleast 6 years. So i won't be illegible, i sent Cornerstone an e-mail and waiting to hear back.

I fought some tickets tooth-and-nail so that they'd be completely dropped just to get preferred rates.

I think i'm going to change my address to some farm up North and have Canada Post forward my mail to Brampton.

Still looking around...
 
Slono said:
I own a 2011 Kawasaki Ninja 250. The problem is that I haven't had my license for 1 year yet (got it in June 2011) and I'm not 25. Are there any companies that will adjust the payments for when I turn 25 (July 2012), and will have had my motorcycle license for a year even though I have purchased a policy with them earlier in the year?

Edit:
I just got off the farm with State Farm and they're willing to adjust my rates midway through my 12 month policy term when I turn 25 in July. Are there any other companies that will do the same so I can compare rates with State Farm?
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My understanding is that all companies will do the adjustment.
 
iFly55 said:
I too got my renewal notice from TD and was shell-shocked. I honestly believe that this year i'd see a significant drop in rates because i turned 21 and would have my license for a year.

They first insured me from JUL-11' to MAR-12' (8 months) for $2400 .. even if i extrapolated that to 12 months, i'm looking at ~$3600/yr

They offered me the exact same coverage for $3979

I'm pretty much on the same boat as Slono: I'm 21, 2011 250R i got my M1 JUN 11' and M2 Aug 11'. Absolutely ZERO tickets & At/Not-fault collisions since i first got behind the wheel in Nov 2006.

I just got off the phone with State Farm and Serafino Lantorno told me he'll call back tomorrow because he said State Farm may have changed their policy, where drivers need to be driving for atleast 6 years. So i won't be illegible, i sent Cornerstone an e-mail and waiting to hear back.

I fought some tickets tooth-and-nail so that they'd be completely dropped just to get preferred rates.

I think i'm going to change my address to some farm up North and have Canada Post forward my mail to Brampton.

Still looking around...
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If you change addresses make sure you actually have some association with that house / apartment. If you have absolutely no business there that's considered a felony with the provision of false information.
 
I work with an excellent Insurance Agent from The Hull Group. She has access to quite a few insurers to find the best cost. She even found me a company that allows Monthly payments. (Not the 4 payments other companies claim is their monthly plan)

PM me if you want her email address to get a second opionin. Great girl to work with.
 
Will keep an eye on this thread.

Started my home insurance with TD a few months ago, and now just added a new vehicle to the policy. Nobody could come near their rates.

Gonna try them next for the bike when my current policy with Riders Plus expires in late Feb.


BTW, I've found their online quote calculator incredibly accurate to my real rates paid on home and auto. At this point, my bike insurance was more than I am currently paying, but hoping for a better rate if I combine my home and auto as well.


.
 
So...I called TD again to find out when I could cancel my policy without having to pay a cancellation fee. And then I also asked (again) if the rates could be changed once I turned 25 in July. Guess what? This guy says the rates will be slightly less once I turn 25, but he couldn't give me a figure because of the pro-rated system insurance companies use, there would have to be a bunch of calculations done in order to figure that out. This is indeed conflicting information from what I've been told in the past.

I was curious as to what I would be quoted by TD if I was 25. so I asked the representative to give me a quote as if I was presently a 25 year old riding my 2011 Ninja 250R. I was quoted around $1700, which is a lot more than the guesstimated $1100 I was quoted from State Farm for the same coverage (I wasn't able to get accurate numbers from the State Farm Rep because the system would not let her change my age because it had to match my driver's license information). What rip eh?

Frustrated, I hung up and waited for about an hour before calling one more time to see if I'd get a different answer, and I did. This representative said I would not get a new rate and told me its because they're only allowed to change my age when I renew my policy and since I turn 25 mid-term, I'd still be charged the rate that I got when I renewed my policy as a 24 year old. In any case I've decided I'm done with TD. Great for houses and cars, but it looks like they're slowly turning away motorcyclists.
 
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Slono said:
So...I called TD again to find out when I could cancel my policy without having to pay a cancellation fee. And then I also asked (again) if the rates could be changed once I turned 25 in July. Guess what? This guy says the rates will be slightly less once I turn 25, but he couldn't give me a figure because of the pro-rated system insurance companies use, there would have to be a bunch of calculations done in order to figure that out. This is indeed conflicting information from what I've been told in the past.

I was curious as to what I would be quoted by TD if I was 25. so I asked the representative to give me a quote as if I was presently a 25 year old riding my 2011 Ninja 250R. I was quoted around $1700, which is a lot more than the guesstimated $1100 I was quoted from State Farm for the same coverage (I wasn't able to get accurate numbers from the State Farm Rep because the system would not let her change my age because it had to match my driver's license information). What rip eh?

Frustrated, I hung up and waited for about an hour before calling one more time to see if I'd get a different answer, and I did. This representative said I would not get a new rate and told me its because they're only allowed to change my age when I renew my policy and since I turn 25 mid-term, I'd still be charged the rate that I got when I renewed my policy as a 24 year old. In any case I've decided I'm done with TD. Great for houses and cars, but it looks like they're slowly turning away motorcyclists.
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Ninja 250? 24yrs old? Clean record? M2 licenced? You sound like a good candidate for Jevco. Shoot me an e-mail or phone call for a quote!

They are right about the mid-term changes - there once was a time (4 years ago) where I loved getting calls from clients turning 25, and immidiately lowering their premiums right there and then. This was long ago, and I only dealt with car insurance at the time. Nowadays, because insurance companies file for rate changes more often, they tend to "lock in" your starting rate for the year. The deal is your rate stays the same regardless of any increases at their end, any tickets/accidents at your end, or your birthday.
 
I recently got my renewal from TD also and was shocked myself.
Noticed my insurance went from $1260 down to $887 ;).
(full coverage on 1000cc+ bike)
Not sure why but they just lowered it, I won't be calling and complaining touch about this one.
 
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