Definition : Insurance - Insurances of the Syndicate

Avec une hausse marquée des sinistres au sein des copropriétés du Québec, il est possible d’entrevoir un durcissement du marché de l’assurance. Selon l’avocat émérite et secrétaire général du RGCQ, Yves Joli-Cœur, « Au rythme où vont les choses, cette situation pourrait conduire à une véritable crise de l’assurance en copropriété divise au Québec, voire à une instabilité grandissante dans ce segment de marché résidentiel. ». Le scénario catastrophe qui guette la copropriété, au Québec, serait que certains syndicats de copropriétaires ne trouvent plus d'assureur pour prendre le risque. Les syndicats de copropriétaires se retrouveraient dès lors « orphelins d’assurance ». Alors, quoi faire pour séduire les assureurs en copropriété divise ?  

22 octobre 2021 - Le 27 octobre, à 19h00, en direct sur la page Facebook de Condolegal.com, notre webradio traitera de la question « Les assureurs : quoi faire pour les séduire ? » Nos invités pour en discuter seront Valéry Couture, gestionnaire de copropriété, Annie Gosselin, courtière en assurance de dommages des entreprises chez Gaudreau Assurances ainsi que Me Maxime Laflamme-Leblond qui est un avocat spécialiste en immobilier et copropriété chez LJT. 

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.

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:

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.

Renting your apartment to tourists, exposes you to various claims. This could be the case in cases where it is recognized that you are legally responsible for a guest who injures themselves or has their personal belongings damaged or stolen during their stay in your apatement. While some short-term residential rental websites offer insurance for this, it is still essential to inform both your home insurer and your syndicate's insurer that you are engaged in such an activity. Remember that the insured must declare to his insurer any circumstance resulting from his actions that aggravates the risks stipulated in the insurance policy. This will avoid horror stories during a disaster.