Definition : Insurance - Damage Insurance

Insurance covering the insured against the consequences of an event that may affect its patrimony.

Related articles


Le mercredi 21 septembre 2022 (à 19h), lors de la traditionnelle webradio de Condolegal, il sera question de l'assurance des copropriétés horizontales. Pour plusieurs, l'assurance d'une maison en rangée ou jumelée (en copropriété divise) est similaire à celle que l'on souscrit pour une maison individuelle. C'est ainsi que certains syndicats de copropriété horizontale n'assurent que les parties communes de la copropriété.  Or, peu sont au fait que cette façon de faire est généralement non conforme aux dispositions législatives établies par le Code civil du Québec. Lors de cette webradio, des experts reconnus dans le domaine sauront démystifier les règles applicables en la matière et prodiguer de justes conseils. 
View more
Une nouvelle réalité frappe plusieurs syndicats de copropriétaires au Québec: la perte de leur assureur, et l'obligation, dans plusieurs cas, de se tourner vers le marché de l'assurance secondaire, où les primes et les franchises sont prohibitives.
View more
Un sondage commandé par le Bureau d'assurance du Canada révèle que bien des copropriétaires connaissent mal l'assurance condo. Ils ont pourtant intérêt à en maîtrisee les bases, sous peine de possiblement vivre des surprises colossales. 
View more
Les sinistres qui proviennent d'une unité, au sein d'une copropriété, obligent bien souvent un syndicat à payer la franchise pour faire réparer les dommages occasionnés. Lorsque l'assureur du copropriétaire ne veut pas rembourser cette franchise, un syndicat peut intenter une procédure judiciaire. Cette webradio explique comment s'y prendre.
View more
L'article 1074.2 du Code civil du Québec a semé la controverse, lorsqu'il est entré en vigueur en 2018. Plusieurs juristes estiment que les compagnies d'assurance font une mauvaise interprétation de cette disposition législative.
View more
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. Your syndicate must subscribe the following coverages:
View more
Almost every insurance policy includes deductibles, in varying amounts according to the insured risk (e.g. fire and water damage). In co-ownerships, deductibles are a factor in the Building insurance, and in the third party liability insurance of the syndicate, directors, general meeting officers, co-ownership manager (gérant) and of the condo manager (gestionnaire). Regarding co-owner’s insurance, generally each home insurance policy contains one or more deductibles for various amounts according with the nature of the loss.  
View more
The insurance premiums are the amount paid by the insured monthly or annually to benefit in the event of a claim from the guarantees in the insurance policy. It is an expense towards the preservation, maintenance and administration of the immovable. Although the syndicate assumes this cost, it is charged back to the co-owners as a portion of their common expenses (condo fees). However, in recent years, there has been an increase in the amount of insurance premiums for most syndicates of co-owners. Two main factors are at issue: the general ageing of this stock of collective dwellings and the increase in claims caused by the failure to carry out maintenancework  on the building.  But the complexity of the insurance system also has its share of responsibility.
View more
The Law and the overwhelming majority of declarations of co-ownership require that syndicates of co-owners insure their building. This may seem surprising at first glance as the syndicate does not own the private portions nor the common portions. However, its main object is to ensure the preservation and the longevity of the building and to manage and administer it diligently following rules of the trade. This is why the legislator has given to the syndicate an insurable interest and has made it compulsory that it subscribe building insurance.  
View more