Definition : Loss - Insurance insufficiency (under insurance)

Insufficiency of the amount declared to the insurer at the time of subscribing the insurance policy, in relation with the actual  value of the insured immovable. In case of loss, it generally gives rise to an indemnity reduced to:

(see Replacement value)

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Question: I just received the renewal of our syndicate of co-owners’ insurance policy. However, it includes a 90%. co-insurance clause. What is it about ?
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Directors have a very important role in a co-ownership. They are the mandataries of the syndicate of co-owners and as such oversee the day to day operation of the immovable. It is therefore essential to possess a thorough knowledge of the tasks of this function. In the exercise of their duties the directors must act with care, diligence, loyalty and honesty, and always keep in mind the best interests of the group of co-owners.
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Il vient d’y avoir un dégât d’eau dans ma partie privative. Que dois-je faire : appeler mon assureur, mon plombier ou mon avocat?
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Question: Can a co-owner require the board of directors to provide proof of the building’s insurance?
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Like any moral or physical person, a syndicate of co-ownership may engage its civil liability. The Law and the vast majority of declarations of co-ownership require that every syndicate subscribe insurance covering its civil liability towards third parties.
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