ABRI, Title Insurance of Québec
A title defines the rights of a person or of a company to use its immovable property.
Title insurance is a damage insurance policy that covers the costs and loss of value by reason of imperfect titles or an occupation of property that is non-compliant.
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.
ABRI was founded in Québec, for Québec property owners like you. You can find us here.
ABRI is for all immovable property owners in Québec, present and future.
ABRI uses the Land Registry Office, which contains public information, through JLR to target real property owners.
The Premium
Approximately $500.00, once in your lifetime, which equals less than $10.00 per year! No other insurance covers as much for as long and for such a low premium.
The ABRI title insurance premium is calculated based on the value of your property.
Calculate your premium using this tool.
Never! The premium is payable only once. No other amount will be billed to you to maintain ABRI’s title insurance policy in force.
The ABRI title insurance policy does not impose a deductible.
The Property
All real immovable properties can be title insured, with or without a hypothec. For example:
- Single family home
- Condo
- Commercial property
- Cottage, a seasonal property or a cabin
- Multi-family apartment building comprising 2 to 6 units
- Vacant Land
The Title Insurance Policy
Never! The ABRI title insurance policy remains in force for so long as you are the owner of the property. The policy continues in force after the sale of your property and covers you in case of a lawsuit by a subsequent owner.
An Insurance Policy Contract must enclose many elements, including : a policy number, the covered risks, the company’s duty to defend against Court cases, the exclusions within the contract, the conditions and much more.
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
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.
The insured name in the policy is always the owner(s). It is the owner(s) who can file a claim and receive an indemnification.
If the identity theft is covered, as long as it results in damages pertaining to the insured property.
The amount of insurance on the policy corresponds to the highest between the market value of your property at the time you order your policy and the purchase price.
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.
This is an obligation that ABRI added to defend your rights and protect your title, at the insurer’s cost.
Third parties that claim rights in your property could sue you and win, or their claim could be dismissed. The legal fees, costs and disbursements could put you in financial jeopardy.
No! The insurer will be all of the legal fees, costs and disbursements incurred for your defense and an indemnity for the damages suffered.
Claims
Just click here to file your claim. A claims adjuster will contact you quickly.
Immediately! As soon as a third party claims rights against your property, you must notify ABRI in writing.
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!
No! The premium is payable only once, so there is no possibility that you premium will increase in the future.
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.
I have not found the answer to my question
Contact us! Our contact information can be found here.