Business ProfileforFirst Canadian Insurance Corporation

First Canadian *************** Guaranteed Price Rebate. It's a Hook/Line/Sinker Story.The Hook:****************** offer a Mechanical Breakdown Protection, with an optional Guarantee Price Rebate (GPR). Dealers pitch this as "a good deal" & encourage you to purchase the contract which costs about $4000. At expiry your unused share is returned!!! The Line:Embedded in the wording of the legal contract are terms not in your favour. Their dealer/agents do not provide up-front explanations, or explain your obligations under the terms of the agreement. It's total reverse onus i.e. you are responsible for reading the 6 pages of contract in their sales office. The average person, without legal or insurance background, would have difficulty reading & understanding 6 pages of legal contract. They don't suggest that you take the contract home to read or ask someone to review each section once you take it home or even highlight with you to ensure full understanding. The wording is carefully drafted to ensure that you are totally on your own. They take no onus through their dealer to check for understanding. The Sinker:Buried in the contract (NOT displayed on the website!!) is the requirement that the rebate be claimed within 90 days of the 4 year anniversary. There is no pointing out or asking you to initial sections of contract at inception to make sure that you are aware of the reverse onus. No initiative to remind the customer of expiry date at beginning of the contract or near the end. Clearly they hope not to pay up & that most forget, miss the deadline of 4yrs. In the end the customer loses & the company denies your portion. Ethically it is clear FC does not value its customers & manipulate it so they can pocket your share. Sounds like Marketplace, *************** should investigate the data on true return for profit margin for this rebate program.In the words of P. T. ****** theres a sucker born every minute. and unfortunately, Im one.

Thank you for bringing your concerns to our attention. If you continue to have questions, you may contact our office at ************ and we would be happy to discuss further, or you may reach out to the contacts provided in our most recent correspondence.