The characteristics of the insurance contract

The characteristics of the insurance contract

The insurance contract presents the following characteristics: it is consensual (resulting from a willingness agreement), random (its realization is subject to the occurrence of an uncertain event), syallagmatic (giving rise to reciprocal obligations between the insurer and the insured person), of accession (written by the insurer), for money (subscribed in return for a premium), successive (it ranges over time), regulated (subject to the insurance code). The risk that is covered is defined by the parties, usually by general conditions and special conditions. The risk must be independent of the willingness of the parties. The events some, impossible or dependent on the insured's will are not insurable.

Insurance can be two natures: insurance of damage or insurance of people. Damage insurance covers both the property's damage, and payments to which the insured is held when his responsibility is incurred for causeing damage. People's insurance covers events that affect the insured person or the beneficiary (health, death, disability, unemployment, etc.).

An insurance contract may be individual (subscribed by an insured person) or collective (subscribed by a third party to cover a group of insureds), intuitu personae (relating to a person) or not (insurance of a thing), of private law or public law (when it is concluded in a public contract), civil, commercial or mixed according to the quality of the parties.
The training of the insurance contract

The training of the insurance contract is generally preceded by approaches and exchanges between the person who wants to ensure and the insurer or intermediaries. Also, is it important for the insured to know the exact moment from which it is engaged because:

    If the contract is formed, the insured is engaged, he owes his premiums and can not be released by respecting the rules of termination of the contract (ie not in the immediate future, generally);
    If the contract is not formed while the insured believes the opposite, it is not protected in case of disaster.

Reciprocal information of the parties

    Insurer's information

The insurer, before subscribing, needs information about the risk if it is insurable and to set the tariff.

For this, it brings to the applicant a questionnaire entitled Proposal for insurance. The proposal does not engage the insurer or the insured. The insured may at any time remove it as long as the insurer has not accepted it.

If the insurance proposal does not engage the insured, on the other hand, the answers to the questions must be accurate because when the contract will be formed, it will be on that basis that will be appreciated the possible false declarations which lead to sanctions.

If you contact an insurer to simply obtain information on, for example, its rates and guarantees, it is desirable to inform it beforehand to avoid any misunderstanding.

    The information of the insured

The insurer is required to provide an information sheet on the price and guarantees of the insured. In the case of a contract of civil liability, this fact sheet must explain the operation in the time of the guarantees.

    The exchange of consents

Like any consensual contract, the insurance contract is formed by the only agreement of the parties, even verbal. Nevertheless, in practice, the formation of the contract is contractually submitted to a formality such as the signing of the police.

    The cover note

The insurer may be required to establish a temporary contract, either while waiting to study the risk more in depth, either pending the establishment of a final contract. He then delivers a document called coverage note. It is terminated by the establishment of the final contract. If the contract is not concluded, it ceases its effects on the scheduled date.

    The effectiveness of the guarantees

In the absence of any otherwise indicated indication, the contract takes effect from its training. The contract may be trained but the effectiveness of the guarantees can be postponed either at an agreed date or to a formality: signature of the police, or often, payment of the first premium, because the insurer wants to be sure of have been paid before guaranteeing.

    The insurance policy

The contract is the legal link that unites the parties. The insurance policy is the writing that constitutes the proof of the insurance contract.

The insurance contract, in its current acceptance, is composed of general conditions which describe the rights and obligations of the parties and the guarantees. These are conditions common to all the contracts of a society that cover the same risks. In addition, there are special conditions that take up the data specific to an insured. It can also include conventions