Have you just suffered a loss? You are relieved, since you are insured! You have the spontaneous reflex to search your filing cabinet to find this famous contract that the insurance company sent you in exchange for your juicy cheque some time ago.
That’s it, after an exhaustive search, you found this expensive paper. But, horror, you don’t understand it. What gibberish! Are all these words really necessary? Well, yes, it is. There is not one comma too many. The legal experts of the insurance companies have perfectly drafted the clauses of your contract.
Analysis of the Insurance Contract
Are you having a hard time finding which clause in your insurance contract protects you for the loss that has just affected you? Insurance contract analysis is not an easy exercise to do and may not be in your genes. Don’t panic! Les Expertises LMS is here to help you see things more clearly! We are the leading independent claims adjusters in Quebec. We will refer you and analyze your insurance policy, represent you and negotiate your benefit directly with your insurer. We will always work in your best interest, but with the necessary objectivity in mind with your insurer.
At Les Expertises LMS, our experts have more than 65 years of experience, which means that they have seen and settled claims of all kinds! We will handle your case professionally and diligently, from start to finish, and you will have peace of mind. You are not a damage insurance expert, let us help you! We will thoroughly read your insurance policy, analyze all its clauses, visit the site of the loss if necessary to gather the necessary information, such as alternative materials. We will skillfully negotiate the compensation due to you, taking care of your entire file without any worries. You can trust us, as hundreds of satisfied customers have done.
Types of insurance contracts analyzed at Les Expertises LMS
Our experts work in the following areas :
- Residential insurance contracts (houses, cottages, apartment buildings, multiplexes, etc.)
- Commercial insurance contracts (shops and boutiques, agricultural businesses, etc.)
- Institutional insurance contracts (schools, governments, municipalities, places of worship, etc.)
- Industrial insurance contracts
- All other buildings with commercial or residential activities
What exactly is an insurance contract?
It would still be useful to understand what an insurance contract is. After all, you signed this paper!
It should be noted that this insurance policy concluded by you and your insurer is a legal agreement. It will determine all the obligations and rights of each individual. Your insurer has agreed to pay a specified amount if the risk for which you believe you are covered and for which you believe you have paid appears on it.
To do so, you had to declare a risk, i.e. declare all the elements or circumstances relevant to the insurer so that it could reasonably assess the risk and determine an appropriate premium to pay. Insurance companies may have made you fill out some forms to this effect.
The acceptance of the insurance application therefore forms the insurance contract. The insurance application can be written, verbal or electronic. Each of these forms of acceptance has its own rules. Les Expertises LMS knows these rules perfectly and will be able to check them if necessary, in the event of a claim. Please note that regardless of the form of the insurance application, the insured signature is not always required, and a verbal acceptance will be sufficient for the policy to take effect.
The Civil Code of Québec provides that if the application is in writing, a copy of the original must be given to the insured. It is easy to understand that for evidentiary reasons, the Chambre de l’Assurance de Dommages (CHAD) advises its representatives to have their clients sign the insurance application! The courts have recommended for several years that representatives obtain the signatures of their clients from the insurance application to confirm the statements and answers obtained from clients; also, professional liability insurers prefer that insurance applications be completed and signed by the client.
An insurance contract is therefore very important, and, like all legal documents, it does not contain one comma too many! Les Expertises LMS knows this.
The Conditions of the Contract
Your insurance contract is divided in two. First, there are the general conditions, which list the rights and obligations that are common to all insured for the same insurance product (e. g. residential or apartment building, etc.), and then the specific conditions. These concern the coverage of a specific risk. This may include a pool and its additional premium, the amount of coverage, deductible, duration, replacement value, jewellery insurance, etc.), or any detail that is not generalized in the policies offered to all insured.
Where things usually get difficult when settling a claim is when you have forgotten, voluntarily or not, to declare certain elements when negotiating your insurance contract (for certain specific elements), or when errors have been made in your declarations concerning these same specific clauses. The law provided for the blow and sanctions as appropriate.
Thus, if you have played a trickster with the insurer and this “omission” or “error” was intentional, the insurance contract will be declared void. In this case, you will lose everything, because the insurer will not pay a penny in the event of a claim! So, think twice before you play this dangerous little game.
However, if it is proven that your omission or error was not intentional, your insurer may adjust the contract and review the amount of premium before a claim has occurred. If it is too late and this loss has occurred, your insurer may reduce the amount of its intervention proportionately, by refunding a proportional premium amount. This negotiation is not easy, but Les Expertises LMS are professionals. They will try to negotiate and assert your rights.
It is therefore extremely important, not only to be honest and transparent, but also to periodically review your contract if your situation changes. It is then better to declare any additional risks you consider as such, rather than risk a refusal to pay compensation in the event of a claim. As the saying goes, prevention is better than cure!
Les Expertises LMS will advise you as soon as a disaster occurs, whether it has been caused by fire, tornadoes, ice, oil damage, hurricane, earthquake or any other natural disaster. It is not necessary to have contacted or attempted to negotiate with your insurer to let us know.
Our role is clear: we will analyze your insurance contract to understand how you are covered. We will evaluate all the documents and information necessary for your claim, which will allow us to claim as much as possible from your insurance company for you.
Saving Time and Money
By doing business with us, you will save twice as much. First, by saving time, since we will take care of your claim file from A to Z. You will sleep soundly, and you will be able to devote yourself to your family or your company, which will count on you after the disaster! You will then save financially, since the fees of Les Expertises LMS will be self-reimbursed thanks to the significant monetary gains made by our work.
Don’t waste your precious time trying to decipher every little clause in your insurance contract. Call us today to get more of your insurance refund!