boarderfatty
05-08-2009, 09:45 AM
I will start off that I am 21 turning 22 and a full time student at the University of Alberta. I received my license on my 16th birthday and don’t have a single speeding ticket, or other driving infraction on my record. I have been insured and driving since I have had my license. I have worked up to 3 jobs at a time on top of school to afford my STi. A car that has not only seen my money, but my labor, blood, sweat, and tears that have gone into maintaining and modifying my car.
My Story starts on the morning of Monday April 13th 2009 when I awoke to go to work at 5am and noticed that my car had disappeared. My heart instantly sank into my stomach. The first thing that came to mind was call 9-1-1. I was put through to the local St. Albert RCMP station where they told me I was to come down to the police station to fill out a police report. I was a little shocked to find that they weren’t interested in even seeing the crime scene, but I figured that they were the professionals and knew what was best. After filling out the report it registered that I should call my insurance company and inform them of the theft. I am insured with TD Meloche Monnex and have been since I have been driving, as well as the rest of my family since they offer lower rates and supposed better coverage since they will only insure certain professional groups, university alumni, and university students. I called their 24hr line and gave them the necessary details to start the report, and they said that a regular hour’s adjustor would call me later in the morning with updates and information, so I went to work. On Wednesday the 14th I had still not received any contact from my insurance company, so I called them. They informed me that they had no record of a claim or theft being created under my name. So I again went through the details that I had available at the time, and they informed me that a total loss adjustor would call me back with further details. By Friday with still no contact, I figured out which adjustor was assigned to my case, and I contacted them. I gave them all possible details, emailed them a description of my car accompanied with pictures, as well as receipt for approximately $5000 in modifications that I had available. I have had another $5-7000 invested in modifications and labor which I had no receipts for or paid for by cash.
I figured I would leave them alone and let them do their job efficiently versus being hindered by my harassment. On Thursday the 29th I had still yet to hear from them, but they had previously mentioned that they like to put together pay outs about 10 business days after the theft, so I called them again. My adjustor informed me that they had come up with a price that was awaiting managerial approval, but I should be happy with it since she was expecting $10,000 less. She also mentioned to me that the modifications I had done would not be covered under the $5000 I had coverage for since in their opinion modifications devalued my car. The $800 brake upgrade was $200 less than factory replacement brakes, so I devalued it by $200, the $600 high performance exhaust was $20 less than factory so I devalued it by another $20 etc. for my body kit, chip, performance suspension and other parts, but they were willing to be nice and still give me market value (my insurance policy covers market value) They also informed me that since Radar detectors and laser jammers were not legal in all provinces, even though they are in Alberta, they said they would not reimburse me and I was lucky I was not getting a ticket and fine. I was in shock but was able to ask one last question “So since I can have a race motor with 500 horse power built for $10,000 but a new factory motor with 300 horse power is $12,000 I would devalue my car by $2000 for adding 200 horse power?” they replied “Yes.” I was speechless and hung up.
On Monday my adjustor called me with the offer… $21,500 + GST. I was appalled. But my adjustor says I am lucky since she though I should only get $10,000 or so. I informed her that I had paid $19,500USD for my car, which is approx $24,000 Canadian, plus the 11.1% duty and GST it came to $26,500 CAD, plus the $2000 shipping, RIV fee, Air conditioning fee, installing day time running lights, metric instrument cluster and inspections I was into it for over $30,000 before the $10,000 I had spent modifying it, all recently since its purchase in October 2007 about 1.5 years. I also said that I was not looking for $40,000 but something fair that would put me into a similar car. She informed me that this is what their appraisers had come up with, so I asked for a copy of the appraisal. She said she would once I sent her a police report. I thought nothing of this and called the RCMP detachment. The RCMP proceeded to tell me that my insurance company was trying to scam me into doing their work, and it was up to the insurance company to send in a formal request for the report with the fee, and that the victim is not to see or pay for the report in most instances. I was starting to get upset with the way I had been treated. I called my Insurer and told them I was not going to do their job for them and to please send the appraisal, since it was not theirs to hold ransom. After getting the appraisal, I looked at the 10 cars he compared mine to. 4 were from Quebec, 3 were from Ontario, 2 were from BC and only 1 was from Alberta. In a quick study I did using 3 different vehicle models I noticed that the discrepancy between Quebec prices and here was from 18-24%. I later inquired about the cars the appraiser used with the original sellers and found some of them had major accident history; I did not know a mint car with no accident history was comparable to one that had previously been written off. I also totaled up the value of the 10 listed cars and it came out to $235,000 or an average of $23,500, $2000 less than they offered. I called my adjustor upset about this and they said they average 20 cars not just the 10 they showed me, but the weren’t obligated to show me the other 10 or give me contact info for the company that did the appraisal. I then sent them the links to the only 5 Subaru’s currently for sale in western Canada from the 3 major website, autotrader.ca, buysell.com, and driving.ca with prices from $28,000 to $33,000. They said that they wouldn’t have been included since they were all modified to some extent (the same as mine or less) and I asked why not since my car was also modified. They told me that modifications devalue the car and they are offering me stock value ($21500). I asked why don’t they save themselves money and buy me a modified one since it is worth less than a stock one. They had no response. They said if I want to dispute their offer, it is up to me to hire my own appraiser, and an umpire to monitor the debate between my appraiser, and theirs.
In my opinion I feel I am being treated quite unfairly since they are about 35% off of a price to get me into a comparable car, when I have coverage for market value, and am supposedly supposed to be treated better since I am a University student, and my family are professionals and alumni. I was wondering if you were able to help out or offer advice on how to handle my current predicament. In an already traumatizing situation, losing my pride and joy, I expected my Insurance Company to help me through the ordeal, not be against me. As a former Employee of TD Canada Trust, and having family currently employed there, I know how strongly TD pushes great customer experience, and I am surprised Meloche Monnex is allowed to operate under the TD name with service like this.
Regards
Jordan Finczak
(780)902-9494
Below are the links to the 5 2004 Subaru’s in Western Canada. The last advertised vehicle has an accident history as well to account for its drop in value
1) http://www.canadatrader.com/result/...edmontonalberta
2) http://www.canadatrader.com/result/...edmontonalberta
3) http://www.canadatrader.com/result/...edmontonalberta
4)
http://driving.canada.com/buy/used/...y?carid=2240630
5) http://www.buysell.com/root/detail/...boxer_DOHC.aspx
My Story starts on the morning of Monday April 13th 2009 when I awoke to go to work at 5am and noticed that my car had disappeared. My heart instantly sank into my stomach. The first thing that came to mind was call 9-1-1. I was put through to the local St. Albert RCMP station where they told me I was to come down to the police station to fill out a police report. I was a little shocked to find that they weren’t interested in even seeing the crime scene, but I figured that they were the professionals and knew what was best. After filling out the report it registered that I should call my insurance company and inform them of the theft. I am insured with TD Meloche Monnex and have been since I have been driving, as well as the rest of my family since they offer lower rates and supposed better coverage since they will only insure certain professional groups, university alumni, and university students. I called their 24hr line and gave them the necessary details to start the report, and they said that a regular hour’s adjustor would call me later in the morning with updates and information, so I went to work. On Wednesday the 14th I had still not received any contact from my insurance company, so I called them. They informed me that they had no record of a claim or theft being created under my name. So I again went through the details that I had available at the time, and they informed me that a total loss adjustor would call me back with further details. By Friday with still no contact, I figured out which adjustor was assigned to my case, and I contacted them. I gave them all possible details, emailed them a description of my car accompanied with pictures, as well as receipt for approximately $5000 in modifications that I had available. I have had another $5-7000 invested in modifications and labor which I had no receipts for or paid for by cash.
I figured I would leave them alone and let them do their job efficiently versus being hindered by my harassment. On Thursday the 29th I had still yet to hear from them, but they had previously mentioned that they like to put together pay outs about 10 business days after the theft, so I called them again. My adjustor informed me that they had come up with a price that was awaiting managerial approval, but I should be happy with it since she was expecting $10,000 less. She also mentioned to me that the modifications I had done would not be covered under the $5000 I had coverage for since in their opinion modifications devalued my car. The $800 brake upgrade was $200 less than factory replacement brakes, so I devalued it by $200, the $600 high performance exhaust was $20 less than factory so I devalued it by another $20 etc. for my body kit, chip, performance suspension and other parts, but they were willing to be nice and still give me market value (my insurance policy covers market value) They also informed me that since Radar detectors and laser jammers were not legal in all provinces, even though they are in Alberta, they said they would not reimburse me and I was lucky I was not getting a ticket and fine. I was in shock but was able to ask one last question “So since I can have a race motor with 500 horse power built for $10,000 but a new factory motor with 300 horse power is $12,000 I would devalue my car by $2000 for adding 200 horse power?” they replied “Yes.” I was speechless and hung up.
On Monday my adjustor called me with the offer… $21,500 + GST. I was appalled. But my adjustor says I am lucky since she though I should only get $10,000 or so. I informed her that I had paid $19,500USD for my car, which is approx $24,000 Canadian, plus the 11.1% duty and GST it came to $26,500 CAD, plus the $2000 shipping, RIV fee, Air conditioning fee, installing day time running lights, metric instrument cluster and inspections I was into it for over $30,000 before the $10,000 I had spent modifying it, all recently since its purchase in October 2007 about 1.5 years. I also said that I was not looking for $40,000 but something fair that would put me into a similar car. She informed me that this is what their appraisers had come up with, so I asked for a copy of the appraisal. She said she would once I sent her a police report. I thought nothing of this and called the RCMP detachment. The RCMP proceeded to tell me that my insurance company was trying to scam me into doing their work, and it was up to the insurance company to send in a formal request for the report with the fee, and that the victim is not to see or pay for the report in most instances. I was starting to get upset with the way I had been treated. I called my Insurer and told them I was not going to do their job for them and to please send the appraisal, since it was not theirs to hold ransom. After getting the appraisal, I looked at the 10 cars he compared mine to. 4 were from Quebec, 3 were from Ontario, 2 were from BC and only 1 was from Alberta. In a quick study I did using 3 different vehicle models I noticed that the discrepancy between Quebec prices and here was from 18-24%. I later inquired about the cars the appraiser used with the original sellers and found some of them had major accident history; I did not know a mint car with no accident history was comparable to one that had previously been written off. I also totaled up the value of the 10 listed cars and it came out to $235,000 or an average of $23,500, $2000 less than they offered. I called my adjustor upset about this and they said they average 20 cars not just the 10 they showed me, but the weren’t obligated to show me the other 10 or give me contact info for the company that did the appraisal. I then sent them the links to the only 5 Subaru’s currently for sale in western Canada from the 3 major website, autotrader.ca, buysell.com, and driving.ca with prices from $28,000 to $33,000. They said that they wouldn’t have been included since they were all modified to some extent (the same as mine or less) and I asked why not since my car was also modified. They told me that modifications devalue the car and they are offering me stock value ($21500). I asked why don’t they save themselves money and buy me a modified one since it is worth less than a stock one. They had no response. They said if I want to dispute their offer, it is up to me to hire my own appraiser, and an umpire to monitor the debate between my appraiser, and theirs.
In my opinion I feel I am being treated quite unfairly since they are about 35% off of a price to get me into a comparable car, when I have coverage for market value, and am supposedly supposed to be treated better since I am a University student, and my family are professionals and alumni. I was wondering if you were able to help out or offer advice on how to handle my current predicament. In an already traumatizing situation, losing my pride and joy, I expected my Insurance Company to help me through the ordeal, not be against me. As a former Employee of TD Canada Trust, and having family currently employed there, I know how strongly TD pushes great customer experience, and I am surprised Meloche Monnex is allowed to operate under the TD name with service like this.
Regards
Jordan Finczak
(780)902-9494
Below are the links to the 5 2004 Subaru’s in Western Canada. The last advertised vehicle has an accident history as well to account for its drop in value
1) http://www.canadatrader.com/result/...edmontonalberta
2) http://www.canadatrader.com/result/...edmontonalberta
3) http://www.canadatrader.com/result/...edmontonalberta
4)
http://driving.canada.com/buy/used/...y?carid=2240630
5) http://www.buysell.com/root/detail/...boxer_DOHC.aspx