Car Insurance - experience with Meloche Monnex?

[Razor Leaf]

I currently have car insurance with State Farm, who are OK but not great. I'm seriously thinking of switching to TD Meloche Monnex. With my university alumni group rate, I can get better coverage with MM, at the same price as SF.

But how is MM in the long run? I know that SF will reduce your policy cost a little every time you renew with them. Does MM also do this? Or will they pull a fast one on you by increasing your cost when you need to renew it (forcing you to shop around again)?

So, if you have long term experience with Meloche Monnex I would love to hear your advice. Thanks. :)

[Hellfire]

I've had Monnex for years and years. Great service, good rates. As for reducing your policy a bit year by year I'm not sure, but it hasn't gone up or down except for the usual reasons, adding/removing vehicles, adding/removing drivers etc...

I kinda feel sorry for them with regards to my condo insurance. $49 premium for the year = them shelling out $10,000 in repair $$$ due to a sewer backup.

[eelfliw]

TDMM has good rates. But I've had a poor claims experience with them. As such, I'm with another ins company now.

If you never make a claim, I would recommend them. But then, who can predict that they'll never make a claim?

[coldWater]

when i was shopping for my first car, i called an insurance broker she gave me a quote at $3600/year for a 96 Civic 4 drs, after a while i heard the insurace went up by 30%, then i called again, she told me 4000 something a year now....i was like wtf....then i found out about TDMM, which is around 2400/ year......... btw, that's when i was <25yrs and with G2 :)

[prof_frink]

I was with State farm, they renewed me at something like 2900 a year, I called TDMM and they quoted me 1300 and I've been with them for 3 years now...I can't comment on how they handle claims though, we haven't had any - and our rates went down this year...

[actng]

State Farm is a rip off. They wanted $10,000 from me for a $12,000 car. I ended up paying under $4000 with The Personal. Even TD was a rip off at $6000. All State wanted $8000.

[robattoronto]

Best price in town since I'm a UofT alumni.

[MSBP]

I switched from State Farm to Meloche Monnex 4 years ago. This is what I received...

- better coverage (covered for hit and runs)
- lower deductible from $500 - $300
- coverage for rental cars included
- no hassle when I filed a claim for my lost gold bracelet.
- I also pay less than when I was with State Farm

I highly recommend them

[LtFransky]

I'm a Queen's Alumni and they have great rates for me. Even with 2 speeding tickets, they were half of State Farm

[gman]

I was with Monnex many years ago. My home insurance is still with them. However, their price became less competitive year after year. After Monnex, I switched to Liberty Mutual. Then, switch to Bellair. Then, Motor insurance. And now, President Choice. The reason I switched because the next one has better price.

Monnex called me every year and gave and faxed me quote year after year. They could never beat what I had at that moment and they lose by a long shot. That is more than $200. Mind you that I have home insurance with them and I am an UofT Alumni.

[actng]

I'm a Queen's Alumni and they have great rates for me. Even with 2 speeding tickets, they were half of State Farm

You're not looking hard enough dude. I'm Queen's alumni also and their quote is double what I'm paying now with the Personal. Regardless that they're half of state farm, state farm is a rip off to begin with.

Go gaels.

[Razor Leaf]

Wow, thanks for all the feedback, guys! :) This really helps.
I think it was a great idea to give auto stuff it's own forum.

[Neb]

Queen's alumni also, just wondering what u tell them when u call the broker? do u ask for a discount because u are an alumni from that uni? I was with statefarm before, and now with Chubb. But I might look into Monnex. Wh'ats their number?


You're not looking hard enough dude. I'm Queen's alumni also and their quote is double what I'm paying now with the Personal. Regardless that they're half of state farm, state farm is a rip off to begin with.

Go gaels.

[MTL-TechY]

I currently have car insurance with State Farm, who are OK but not great. I'm seriously thinking of switching to TD Meloche Monnex. With my university alumni group rate, I can get better coverage with MM, at the same price as SF.

But how is MM in the long run? I know that SF will reduce your policy cost a little every time you renew with them. Does MM also do this? Or will they pull a fast one on you by increasing your cost when you need to renew it (forcing you to shop around again)?

So, if you have long term experience with Meloche Monnex I would love to hear your advice. Thanks. :)

meloche monnex gave me the run around, first time driver and all, then settled with someone else, now they are all trying to get me back, but sorry am under two year contract, ha ha :twisted:

[sterdeus]

They've been good for me for the last 2 years. They've been good for my parents for the past 10+ years. I've never made a claim myself, but my mom has and didnt have an issue with then. My mom just happen to get a good CSR who was really nice and courteus.
I've found rates to be the lowest I could find (even with Liberty who my college alumni uses). I think the main reason for rates to decrease is your age, your record, your record with them over the years with minimal accidents, and the age of your car.

[gman]

I've found rates to be the lowest I could find (even with Liberty who my college alumni uses). I think the main reason for rates to decrease is your age, your record, your record with them over the years with minimal accidents, and the age of your car.

Well, that did not help me. I am old (damn!). My record is clean. The max stars they could give me. No claim, no accident and no ticket (not even a parking ticket which of course does not matter).

[actng]

Queen's alumni also, just wondering what u tell them when u call the broker? do u ask for a discount because u are an alumni from that uni? I was with statefarm before, and now with Chubb. But I might look into Monnex. Wh'ats their number?

I just called The Personal. I heard they only do group insurance now so I don't know if any random person from the public can sign up.

But no, I didn't have to ask for anything. There's no "asking" when it comes to insurance... you just answer all their questions and they give you a price, take it or leave it.

The brokers didn't want anything to do with me cuz I wasn't 25 and didn't have my license since I was 16 and I was looking for a new policy and not a renewal.

[arlaw]

Our family's been using TDMM for years, for both house and auto, and they have very competitive rates. I am also a UofW grad so that definitely helps. Service is excellent whether if you are making claims or just have general questions.

[Razor Leaf]

Thanks for the help, guys. Here's a related question:

I'm in Ontario. On my State Farm documents there's a line for tax, but the amount is always $0. What's with that? How does tax on auto insurance work?

[gman]

Thanks for the help, guys. Here's a related question:

I'm in Ontario. On my State Farm documents there's a line for tax, but the amount is always $0. What's with that? How does tax on auto insurance work?

There used to be a PST on insurance but it was got rid of.

[weedb0y]

I am with Meloche under UofT.

[The Shirker]

I signed up with TDMM less than a year ago as they were by far the cheapest (it was my first time on my own policy). Within a month or two I got a letter from them stating I had failed to disclose a claim with my previous insurance company (not true) and they went ahead and almost doubled my rates. I ended up calling them back to cancel my policy - I was put on hold while a manager was consulted and 10 mins later they put my rates almost back to where they were initially. So overall I think they're alright.

[stealth]

UofT alumini....MM was great until TD took them over. Then rates started creeping up, and service went down. Still have them for home insurance, but got better vehicle rates from RBC.

[Rehan]

Still have them for home insurance, but got better vehicle rates from RBC.Why didn't you switch the home insurance to RBC also? They'll give you a 5-10% discount on both, which should make it worth your while.

[stealth]

Why didn't you switch the home insurance to RBC also? They'll give you a 5-10% discount on both, which should make it worth your while.

You'd think so....It turns out that the price difference for home was too great even with the multi plan discount.

Insurance companies are funny, depending what you're buying and what your personal circumstances, pricing can vary a lot.
The only thing I've known for sure is that for me, State Farm was always priced beyond everyone else.