Quote:
Originally Posted by I-Hate-Hulse
LOL, my TD renewal letter I got was pretty funny. Basically the renewal was done up with a reduction in sewer back up to $15K. But there was a cover letter on top of it that said basically said "we recognize this is a bad time to do this, so for this year we will honor our old coverage limits".
Basically it was a "heads up for next year letter". Works out well as I'll likely be switching to someone with decent sewer backup coverage next year if they do drop coverage. The extra year will let the dust settle as to what insurer is covering what.
|
Most, if not all, insurance companies were working towards reducing sewer back up and hail exposure prior to the flooding. It is actually not a bad gesture that TD is making in this case based on them likely having this planned out before the flooding. The top three claim exposures the companies face in Alberta are 1.Hail 2.Water 3.Fire and they need to add caps and increase deductibles to try to keep up to the increased frequency and severity of these three primary risks. It gives you extra time to shop around but none of these companies are trying to attract new business based on offering more for any of the above. In fact if you have a couple claims for any of the above none of them will take you on. They are all gun/hail/water/fire/ shy.