Liberty Quality Home - house and contents insurance
CONTRACT BASES
Article 16 - Period of cover of the insurance
* The policy's covers shall come into force as of the date and time indicated in the schedule thereof.
* Upon expiration of the period indicated in the schedule of the policy, it shall be construed as having been extended for a period of one year, and so on, successively, with the expiration of each annuity.
* The amount of the applicable fees and / or premiums shall be generally reviewed each year by the insurer based on the principles of equity and adequacy established in the Insurance Contract Act. The criteria to determine the new premium will be backed by actuarial studies based on the following factors: a) costs of claims, b) frequency of claims, c) cost of processing claims. In these cases, the company shall inform the policyholder of the increase at least two months prior to the termination of the agreement. If the insured does not accept the increase in the premium, the company may refuse to renew the agreement for the next period of cover.
* Both parties may oppose the extension of the agreement by providing written notice to the other party at least two months before the conclusion of the insurance period currently underway. The tacit extension is not applicable to insurance taken out for periods of less than one year.
Article 17 - Payment of the premium