General Discussion - RBC HOME AND AUTO INSURANCE - Canada

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RE: RBC HOME AND AUTO INSURANCE

Postby average_joe » Tue Jul 14, 2009 06:49:10 AM

I had home and auto insurance with RBC and I was impressed how they conducted themselves after I had tow accidents that wasn't my fault. The thing that really made me mad is they like to raise the rates every year and also they raised my deductible on my collision because I had two accidents that were not my fault. I had a friend recommend a company called Primmum insurance. I submitted my information and I received a better rate and also included in the policy was a clause called accident forgiveness. If you’re a driver with no accidents in the past six years, they offer this clause just in case you get into an accident that is your fault and your insurance will not go up with the accident forgiveness.
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RE: RBC HOME AND AUTO INSURANCE

Postby montyloree » Fri May 09, 2008 07:13:52 AM

It's good to read insurance contracts, just as I encourage people to read their credit contracts.

Insurance companies need to guard against fraudsters looking for a quick cash fix. They have systems in place to make sure that people actually sustain the damages that they are claiming.

With life insurance you have to read the fine print. Insurance companies are notorious for protecting themselves in the fine print.

A more educated consumer means a more happy consumer. If you understand up front what you're agreeing to, you're going to enjoy their services more.

RBC is a large company. I've never dealt with them, however, they've got millions of stable clients. They must be good some how.
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RE: RBC HOME AND AUTO INSURANCE

Postby Raymond » Wed May 07, 2008 11:37:13 AM

Well, his mom could help him (Isn't that what moms are for?) but he'll likely soon be in the same position, even if you pay everything off for him. But maybe you could try it if you're feeling generous.

Ray
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RE: RBC HOME AND AUTO INSURANCE

Postby Raymond » Wed May 07, 2008 11:00:27 AM

Not too sure what you mean, "RBC didn't have to pay out a dime."

Nova Scotia, unlike Ontario and New Brunswick, doesn't have a direct compensation property damage agreement. To get reimbursed for your property damage (but not medical expenses), you would have had to received the money from the collision or all perils section of your RBC policy, less your $250 deductible.

Otherwise, since your province doesn't have a DCPD plan, you would had to have made a claim against the other drivers, yourself, for the percentage of the PROPERTY damage they were found to be at fault for and wait for a judgment in your favour - something highly unlikely.

(But heh, if you did, maybe they, too, would have been able to settle for 10 cents on the dollar.)

As well, had you been personally injured in the accident, there would have been significant costs to RBC. Under the accident benefits section of your policy, the other drivers or their insurers are liable only when when the accident benefits under yours have been exhausted. Because bodily injury costs can be a lot more than property damage ones, that could add up to a whole heap of money.

And so, it's not quite as cut and dried as you make out. That's why they raised your deductible. There should have been some corresponding drop in your premium if you were found 0% at fault in those collisions.

As for myself, I've been with RBC for a number of years and they've treated me OK. I've maintained a perfect driving record while driving everything from motorcycles to transports. Nevertheless, I've been rear ended 4 times, coincidently, always while stopped at a red traffic light. One driver even had a stolen car. Needless to say, it wasn't counted against me, HTA or insurance wise. Just glad I wasn't driving a Smartcar though. In any event, RBC always acted fairly with me.

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RE: RBC HOME AND AUTO INSURANCE

Postby average_joe » Wed May 07, 2008 09:20:07 AM

I hope not either.I looked around and found caa insurance was great in service and pricing.The thing is with caa you have to get a auto membership for the first year only,i didn't mind that because if my car breaks down i will get free tows.The thing with rbc they might give a good rate now but on renewal it will go up.Here is an example i had two accidents not my fault, and i had a $250.00 collision deductible.I get my renewal and they tell me my collison deductible is going up to $1000.00 and rbc never paid a dime out.There are other examples but they are poison.I found td insurance very good too.The are one of the worlds richest bank and they don't care if you come and go.I hope you never do banking with them.They don't care if other banks have better rates,they won't reduce for no one.
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RE: RBC HOME AND AUTO INSURANCE

Postby canadalady62 » Wed May 07, 2008 09:11:44 AM

I wish I had read this earlier as I have just signed up with RBC. As you have said they are very nice on the phone. I have also found an office in the Hamilton area that you can talk to them one on one, and they were also very nice. I'll just have to hope I never have to put in a claim...:)
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RBC HOME AND AUTO INSURANCE

Postby average_joe » Tue May 06, 2008 11:39:54 AM

Here is a free tip for someone that is going to get insurance from RBC.This bank is so nice to you when they want your business.I have had numerous experiences with them and none have been good.The only way you will find out is when you have a cliam to sumbit,they will try their hardest not to pay out.I hope people avoid RBC like they plague.
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