ABRI, Title Insurance of Québec
When a third party claims right in the insured property, based on either imperfect titles or an occupation of property that is non-compliant.
It can be through a demand letter by a neighbour or a notice from the city, for example.
For many years, Louis Cyr has noticed that property owners in Québec are the only North Americans that are not protected against risks associated with titles to the properties they are acquiring.
This is exactly why as a leader in the insurance business, he partnered with JLR, the most complete real estate data base and Chicago Title Insurance Company, the largest title insurer in the world.
This is how, in the spring of 2018, ABRI was created with the objective of making title insurance accessible to all property owners in Québec.
All real immovable properties can be title insured, with or without a hypothec. For example:
- Single family home
- Commercial property
- Cottage, a seasonal property or a cabin
- Multi-family apartment building comprising 2 to 6 units
- Vacant Land
The Title Insurance Policy
Click the following links to see a concrete example of what a ABRI Insurance Policy Contract, provided by Chicago Title, looks like.
Residential owner’s policy sample
Commercial owner’s policy sample
Everybody! You can be the insured on a policy over your property, but can also insure any other property owner, like your family and friends.
Yes! The ABRI title insurance policy includes a protection against inflation, which increases automatically the amount of insurance as the fair market value increases, up to 200% of the amount of insurance purchased.
This protection is included at no additional cost to you.
If in the future you believe that the amount of insurance is nevertheless insufficient, just call us to increase it. A premium could be charged at that time.
No! Settling directly with a third party could jeopardize your right to be indemnified under the policy.
The insurer could however allow you to participate to settlement of the dispute. Don’t forget that it is the insurer who will pay your damages!
The amount of insurance indicated on the policy is the maximum payable for all of the claims you will file.
Do not forget:
- The indemnity can reach 200% of the amount of insurance, depending on the market value
- The legal fees, costs and disbursements incurred to defend your title are completely assumed by the insurer.