Statutory Fire Condition

At the present time you have one year from the date of the fire to present your claim to your insurance company. This is known as the Statutory Fire Condition.

An example could be that you delay advising the insurance company of a claim until after your renewal date so that you will get better rates on your insurance. This will not work. Once the insurance company becomes aware of the claim you will see an increase in your premium.

If your landlord or tenant has a claim on the property where you reside then you should "play it safe" by alerting your insurance company of the circumstances. If it does turn out that you now have a financial share in the claim you will not find yourself past the last reporting day.

Be advised that the Supreme Court of Canada is considering expanding the time period from one year to two years. At this point there has not been a change made in Alberta.