Definition : Insurance - Insurance contract

Contract under which the insurer, upon the payment of a premium or assessment, undertakes to pay to the policy holder or a third party an indemnity in the event of the occurrence of a risk covered by the insurance. This document confirms the existence of the insurance and describes its limitations, exclusions, the rights of the insurer and those of the beneficiary

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Your co-ownership is exposed to various risks, such as fire, water damage, theft and vandalism. When a loss occurs, the insurance of the co-ownership covers the immovable and the civil liability of the syndicate of co-owners. The syndicate has the obligation to subscribe this type of insurance. The Law and the vast majority of declarations of co-ownership make it compulsory. The insurance contract describes the guarantees offered, their limits, exclusions, and the amounts of the deductibles.
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