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This longstanding belief is not true, because most damages that result from natural catastrophes are insured. Examples of what is covered under all home insurance policies are lightning, hail, tornadoes and hurricanes; snow storms or ice storms are insured under the all perils policy. It's even possible to get coverage against earthquakes!
In fact, only damages resulting from water overflow (defined as flooding) and earth movements (such as a landslide) can not be insured.
Damages resulting from natural disasters, particularly hail, flooding and earthquakes, are insurable under your car insurance policy. Simply purchase Plan B of the car insurance policy.
When you have an accident, your insurer takes your degree of responsibility for an accident into account and compensates you accordingly. If you are not responsible for an accident, your insurer compensates you for damages to your vehicle. If you are the one responsible, you will be compensated if you have purchased insurance for that type of damage (Section B). In such a case, all that you will pay for is the deductible as indicated under your policy.
The "No fault" plan in Québec applies only to compensation for bodily injury. This coverage comes under the authority of the Société de l'assurance automobile du Québec (SAAQ), which pays compensation for bodily injury whether you are responsible or not for the damages.
False. Whether you are responsible or not for an accident, it's always your insurer who pays for the damages to your vehicle, even if you are not responsible. Contrary to pre-1978 practices, your insurer is no longer reimbursed by the insurer of the driver responsible for the damages nor for the compensation that your insurer has paid you.
False. You should report this accident to your insurer even if you decide not to file a claim. Even if you do not report the accident, it could still be recorded in your file in the Fichier central des sinistres automobiles if the other driver involved in the accident reports it to his or her insurer. The details recorded in your file will then be those reported by the insurance company of the other driver involved in the accident.
Home insurance is not only about replacing stolen or damaged property, it's also about protecting you from legal proceedings. This is what we call third party liability; when you buy home insurance, you receive this important protection; your insurer will reimburse you for damages that you might unintentionally cause and be held responsible for.
Do you think that you don't need insurance because you don't have many possessions? If you had to replace everything you own after a fire, you'd perhaps realize that you do in fact have more than you think. You only have to look around your home to realize how much stuff you have!
There are many basic coverage home insurance policies that cost very little, but will still offer adequate protection. Think about it.
Having insurance is a way to protect ourselves from the financial consequences of an accident. In case of a major loss, it can be beneficial to have insurance and ask for compensation. The compensation you receive may well exceed any future increase in your premium, but it will also allow you to quickly replace your lost property, something that you might not otherwise be able to do if you had to pay out of your pocket.
Filing a claim does not automatically lead to an increase in your premium. It depends on the kind of claim you file and your accident history. You should know that the property and casualty insurance industry is very competitive and that rating policies may vary from one insurer to another!
The insurer will pay your claim if the insurance that you bought covers the type of damages that you have. Just paying your insurance premium for many years will not ensure payment of your claim nor determine the amount of compensation.
One for all and all for one! That is the principle on which property and casualty insurance is based. The premium that we all pay is used to compensate people who have accidents. Unlike a savings account, the insurance premium that you pay year in and year out does not accumulate in your personal account, but instead is used to pay for other people's accidents.
The cost of car insurance varies significantly from one person to another, and a multitude of factors are used to establish the insurance premium, including the type of vehicle, number of drivers, mileage, location, and of course, level of coverage purchased.
There are different ways to keep your car insurance premium in check: driving safely, increasing your direct damage deductible, choosing a vehicle that is not likely to be stolen, buying your car and home insurance from the same insurer, and most of all, checking the cost of insurance before you choose a vehicle.
According to the Autorité des marchés financiers, the average premium in Québec for a private passenger automobile is $565, an amount that is significantly lower than elsewhere in the country.
Unless there are injuries due to a fender bender, it is not necessary to call the police. You simply need to fill out the Joint Report with the contact information of the drivers involved and report the accident to your insurer.
Even if the police fill out an accident report, they never determine who was responsible for the accident. It is always your insurer who does that during the claim settlement.
You should know that in some cities, the police will not come to an accident scene to fill out this type of accident report, and if they do, it will be to give you a copy of a Joint Report to fill out.
Contrary to popular belief, asking for compensation for goods that we don't possess or increasing the monetary value of damaged or stolen goods can have dramatic consequences. If the insurer discovers that you have made a fraudulent claim, it will refuse your request for compensation and will cancel your contract, making it rather difficult for you to obtain a new insurance policy.
Contrary to popular belief, insurance fraud has an impact on all policyholders. It's not true that inflating your claim has no consequences, since insurance premiums are directly related to accidents that the insurer expects to pay for. The insurance industry estimates that 10 to 15% of the premiums paid by each insured person are used to pay for fraudulent claims. It's something to think about, because we all pay the price.
Our representatives are available to answer your questions.
Telephone: 514 288-4321
1 877 288-4321
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