The additional premium is a premium that is added to the existing premium. It results from a worsening of the risk or from the assumption of a new risk. This additional premium may be imposed during the course of a contract or upon its renewal. Risks are analyzed according to scales that are specific to each insurer. Ultimately, the syndicate will pay this additional premium, which will be charged to all of the co-owners through the common expenses (condo fees) or, at times, some of them.
The syndicate's insurance does not cover everything, for example, deductibles and exclusions . This is the case for certain types of risk, such as ground movements. This means that not everything that is earthquake and its consequences are automatically covered. To get better coverage, you can subscribe complementary riders to the insurance policy. Clearly, the so-called complementary insurance is intended to increase - by increasing the basic premium - the insurance cover and the ceiling of the indemnities that can be paid. Here are some examples of complementary and optional coverage (guarantee):