Liberty Quality Home - house and contents insurance
CONTRACT BASES
Article 12 - Consequences of not reporting an increase in risk
* Should an accident occur when no declaration of an increase in risk has been made, the insurer shall be released from its obligation to provide benefits if the policyholder of the insurance or the insured has acted in bad faith. Otherwise, the benefits provided by the insurer will be reduced proportionally according to the difference between the agreed premium and that which would have applied had the true magnitude of the risk been known.
* In case of an increase in the risk during the valid term of the policy giving rise to a higher
premium, when the agreement is terminated for this reason, if said increase is attributable to the insured, the entirety of the collected premium shall correspond to the insurer. If the aggravating circumstance is the result of causes beyond the control of the insured , he / she shall be entitled to the reimbursement of the portion of the paid premium corresponding to the period of the annuity underway yet to elapse.
Article 13 - In case of decrease in risk