Claims Archives - Lareau Blog

Claims

I’ve never had to file a claim, therefore I will never have to.

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

My Cegep philosophy classes are long behind me. Most of what I had learned back then is a complete blur. Thankfully, I remember bits and pieces of it once in a while. We had studied sophisms, a concept that is pretty vague when you’re 17 years old. But with time, the concept became clearer. To refresh your memory, sophisms are false arguments, a confusing or slightly incorrect argument used for deceiving someone. We’ve all had this kind of reasoning, including myself. However, that type of thought process should be avoided. Today, I will be doing a risky exercise to tie philosophy and insurance together. “Because it has always been this way, it will always remain this way” is a sophism. A sophism takes into account the past by affirming that something that had always yielded a positive result in the past will Lire la suite…

Equipment Breakage Insurance

Claudia Lahaie Auteur Lareau - Claudia Lahaie

The additional Endorsement for Equipment Breakage can supplement your basic insurance coverage, which may exclude boiler explosions, electric arcs and compressor failure, among others. In addition to covering pressure devices (e.g., boilers), mechanical equipment (e.g., compressors) and electrical equipment, this protection may also be extended to production machines and electronic devices. It can even be extended to cover your perishable goods in the case of an accident involving the assets mentioned above. Why would I need such a protection? After a compressor failure, your stored vegetables may suffer serious damage from this sudden rise in temperature. The Equipment Breakage protection would then allow you to be compensated not only for the faulty compressor, but also for the value of the vegetables you have lost. Ultimately, it would also cover losses resulting from business interruption. It is important to know that Lire la suite…

Release form: do I sign or not?

Lori-Ann Yelle Auteur Lareau - Lori-Ann Yelle

It’s 7 a.m. on Sunday and the phone rings. My best friend asks me if I want to replace her colleague at the trendiest obstacle course that has just opened. The catch: the event is in two hours. No problem; after all, you only have one life to live! On site, I am asked — required rather — to sign a release form in the event of injury, dismemberment, and even death. Two thoughts come to mind: Is the obstacle course made up of flame throwers and crocodiles? Am I required to sign? A legal matter First off, under Article 10 of the Consumer Protection Act, a merchant is prohibited from being liberated from the consequences of his own act or the act of his representative. Thus, this law disallows the merchant from being discharged of all liability. Furthermore, Article 1474 of the Lire la suite…

The holidays and your guests’ accountability

Gabrielle Côté Auteur Lareau - Gabrielle Côté

The holidays are fast approaching and you will be hosting your friends and family, getting your best outfits out and creating a festive atmosphere around traditional comforting meals. Afterwards, we take a few days off and we take in a big breath of freedom and happiness, sometimes verging recklessness! As a result, if your guest were to cause any damage to your home during these celebrations, did you know that as a tenant you could be help responsible? Your insurance contract Depending on the tenant’s insurance policy, the personal liability section of your contract states that you are covered for the following: Property damage — the building in which you live Physical damage — any person who gets injured in your dwelling Moral damage — any prejudice arising from remarks that might harm a third party The situation It’s December Lire la suite…

Does your insurance contract reflect your risk tolerance?

Martin Decelle et Jimmy Lussier Auteur Lareau - Martin Decelle et Jimmy Lussier

Martin and Jimmy jump out of a plane flying at 20,000 feet. Martin obviously has his parachute whereas Jimmy claims to not need one. Whose decision do you think is the riskiest? First of all, a risk is defined as an uncertainty in relation to the outcome of an event that could be positive or negative. You are right if you answered Martin. In the case of Jimmy, the outcome of his action is certain: he will unfortunately hit the ground. On the flip side, it is not certain that Martin will successfully land. What about when it comes to insurance? Is it crucial to have it right now despite so many weather conditions and daily accidents? Is it really useful to have to protect us against uncertainty? The answer is undeniably “yes” but each and every one of us reacts Lire la suite…

Water heaters: don’t get into hot water!

Vanessa Fortin Auteur Lareau - Vanessa Fortin

What is the best way to raise awareness about the life expectancy of water heaters? In this popular episode of MythBusters, the two experts test the likelihood of a defective water heater rocketing through the roof of a house and into the atmosphere. This type of event would only happen on a very rare occasion if abnormal pressure were to build up in the tank. (Although very interesting, the show must be taken with a grain of salt.) It’s safe to say that your water heater probably won’t blast through your roof, but this doesn’t mean that you aren’t safe from a flood in your basement. In fact, that’s often where water heaters can be found — hidden and forgotten. As a rule of thumb in Quebec, it is recommended that you replace yours every 12 years. However, in some regions Lire la suite…

Man’s best friend, but not the insurer’s!

Vanessa Fortin Auteur Lareau - Vanessa Fortin

One of the hot topics in the news these last months has been the controversy surrounding pitbulls. Citizens are divided: one side wants to ban this breed of dog in their city, whereas the other doesn’t. Dogs, owners and mayors have been accused… But there will be no finger pointing in this article! However, we thought it would be relevant to talk about the impact that your pet has on your insurance policy because, indeed, there is one. Insurers are especially reticent when it comes to Pitbulls, Rottweilers, Dobermans and other breeds that are known to be aggressive. Although we know that these particular breeds are not necessarily meaner than others and that there are Dobermans who wouldn’t hurt a fly, their sheer power and the size of their jaws are more frightening than that of a Chihuahua’s… If you Lire la suite…

Why does my neighbour pay less than I do?

Pascale Tremblay-Villeneuve Auteur Lareau - Pascale Tremblay-Villeneuve

Throughout our lives, we buy goods and services. Then, we hear about a friend or relative who bought the same thing we did—same make and model—at a different price. In stores, prices may vary, especially as a result of weekly specials, the supplier’s price, and the business’s strategy. But, with insurance, it doesn’t work the same way. So why would your neighbour pay less for home insurance than you? Below you’ll find the answer to this question. First, it is important to know that home insurance premiums vary according to several factors, not your property value alone, as many would think. Based on claims and the various incidents that can occur with regard to home insurance, actuaries gather data to establish correlations between various factors and claim risks. Your insurance premium will therefore be based on all of the characteristics Lire la suite…

Interesting facts about lending/borrowing a car

Derek Campeau-Schmidt Auteur Lareau - Derek Campeau-Schmidt

Nearly everyone has a driver’s licence, for which we pay the SAAQ each year. For those who have a car, they also pay the SAAQ for the plates, and they pay for car insurance. What is the SAAQ’s role? Does my car insurance meet my needs? These are the questions that I will be addressing today. The SAAQ Its role may not be well known, but the SAAQ takes good care of Quebecers. Founded by Lise Payette in 1978, Quebec’s public automobile insurance plan (Régime d’assurance automobile du Québec) is unique. It compensates victims of motor vehicle accidents and determines insurance contributions. The SAAQ also promotes road safety through awareness-raising initiatives aimed at improving road safety, and is responsible for monitoring and controlling road transport by implementing the Highway Safety Code. The SAAQ will compensate you should you suffer bodily Lire la suite…

Happy vacation, Facebook!

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Like a virus trying to find a way around antivirus software (or vice versa), a criminal will always try to find new ways to achieve his or her goals. Social networks are really useful to thieves nowadays…. You are relentlessly feeding their infinite hit possibilities. How so? July 17, 2015 post: Huuurrraaaaayyyyy! We’re done packing the car, finally! All ready to go! Headed to (let’s suppose) Cape Cod! (You understand that you can change Cape Cod for any other location more than 30 minutes away from your place.) July 18, 2015 post: Thumbs up, with a seal on the beach in the background. July 19, 2015 post: Beautiful sunset with (name of partner/spouse)! You’ll get tons of Likes on your posts. But, you are also revealing just enough information for a potential thief: your powerlessness to catch him or her Lire la suite…

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