Reloading and home insurance
- Thread starter Smoothbore
- Start date
- Location
- Halifax - NS
I've felt that generally - you're screwed.
If you completely disclose everything - you're going to pay a lot more and get a lot of hassle from your insurance company - if they keep you.
(My father made the mistake of asking his insurer if he had enough coverage for his firearms collection - 6 months hassling ensued along with an increase in rates.)
If you don't disclose and have a problem; they'll use what they can find to not step up to coverage.
I'm not sure where the happy medium is.
If you completely disclose everything - you're going to pay a lot more and get a lot of hassle from your insurance company - if they keep you.
(My father made the mistake of asking his insurer if he had enough coverage for his firearms collection - 6 months hassling ensued along with an increase in rates.)
If you don't disclose and have a problem; they'll use what they can find to not step up to coverage.
I'm not sure where the happy medium is.
- Location
- Saskatchewan
Just checked with my agent on Friday. No problems, as it's for personal (hobby) use (providing they're stored as recommended). If I was doing it as a business, that would be another story.
TFC
TFC
Insurance in a contract off "Utmost Good Faith"> This is Insurance Law. You will not find it in your policy.python357 said:
What this law says is, basically, that you, the Insured, disclose ALL relevant fact regarding the property that you are insuring, whether or not, there is a question about them. On the other hand, the insurance company is required to reveal all the policy clasues to you and stand behind the contract fully. If there is any dispute about any of the clause's then any doubt goes to the benifit of you, the insured. This is unique in the law of contracts.
If, on inspection following a claim, the insurance company find that there has be a nondiclosure of a fact that is relenent to the acceptance of the policy, then the insurance company may decline the claim and void the policy. You get the premium back. This can happen whether or not the facts discovered has anything to do with the claim.
for example if you fail to declare that you have a wood burning stove in your hous for heating, and you have damage to the house caused by a storm. When the insurance adjuster arrives, see's the wood stove, calls the company and discover's that the stove has not been declared, then youi are now into a world of difficulty. The claim could be denied at that point and the policy voided. I am not saying that it will happen all the time but it has happened and it will happen again.
Be careful out there.
Gibbs505
What you're saying may apply in BC, where you're governed by the English Common Law. In Quebec, it's the French Civil Code (ammended and reviewed in 1994)..that's a whole set of different rules, procedures and regulations. Where the Common Law system relies mainly on Jurispudence (past decisions on cases by judges)and the written word of the Law,the French Civil Code relies on the interpretation of the Law, the spirit of the Law, its written word AND Jurispudence. Your overall assesment of the Insurance Law is certainly correct for your neck of the woods, but insurance policies in Quebec rely of a completely different set of rules. In Quebec, contracts written in English have to be carefully translated to an equivalent and duplicate French version. The FRENCH version is considered binding in case of contractual disputes.
What you're saying may apply in BC, where you're governed by the English Common Law. In Quebec, it's the French Civil Code (ammended and reviewed in 1994)..that's a whole set of different rules, procedures and regulations. Where the Common Law system relies mainly on Jurispudence (past decisions on cases by judges)and the written word of the Law,the French Civil Code relies on the interpretation of the Law, the spirit of the Law, its written word AND Jurispudence. Your overall assesment of the Insurance Law is certainly correct for your neck of the woods, but insurance policies in Quebec rely of a completely different set of rules. In Quebec, contracts written in English have to be carefully translated to an equivalent and duplicate French version. The FRENCH version is considered binding in case of contractual disputes.
