Additional living expenses: Your
housing expenses while the work is
going on if your house is uninhabitable.
Additional living expenses also cover
extra expenses you would not have
incurred if you had not suffered a loss
(compared to your usual expenses), in
particular, expenses for your food or
travel during the renovations. Keep
Assignment of claim: A document
that you sign authorizing the insurer to
pay the service provider (disaster
restoration professional, contractor, etc.)
directly for the work that he carries out
at your home. Be aware that you have
no obligation to sign this document.
Carefully read our advice on page "Step by step: what to do when a loss occurs"
Compensation: The amount you will
receive in the event of a loss to repair
or replace your damaged property
(buildings and personal property)
and the amount for additional living
Deductible: The amount you must pay in the event of a loss.
Did you know that?
If a third party is liable for damages you
suffered, you can claim reimbursement
from this party for both your deductible
and damages that your insurer did not
reimburse. Certain limitation periods
exist for taking legal action. Be careful!
Ask your claims adjuster for more
information and consult a lawyer, if
necessary. A model letter is available
Depreciated value or Actual cash value: Replacement or reimbursement of
damaged property at its value on the
day the loss occurred, taking into
account use and wear and tear.
Endorsement or Rider:
A supplementary clause added to
your contract, which changes your
coverage, for example, water damage
Exclusion: Any event, loss or situation
that is not covered under your home
insurance contract, for example: floods
and landslides. Exclusions are stated
in your insurance contract.
Limitation: The maximum amount,
indicated in the contract, that your
insurer will pay to you for property or
a category of property in the event of
a loss. Generally, there are limitations
on jewelry, furs, software, CDs, DVDs,
bicycles, animals, artwork, cash, etc.
Replacement value: Replacement or
reimbursement of damaged property
for the amount it would cost to buy
it new, without any deduction for
depreciation due to age.
Notice of claim: This is the statement
you make to the insurer or its claims
adjuster to notify them that you have
suffered a loss. In it, you explain the
circumstances, to the best of your
knowledge. It is sometimes written,
and may be followed by additional
Personal property inventory: This is
the list of property that forms the basis
for your claim for contents.
Policy: The insurance contract between
you and the insurer.
Back to the main menu