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Home insurance is one of the indispensable insurances of everyday life. It allows you to be compensated by your insurance company.
It is a multi-guarantee contract that guarantees a wide range of home risks, its furniture and its occupants. Home insurance is mandatory for all tenants. In fact, you are responsible to the owner.
For their part, borrowers are not required to take out type insurance, but they are also strongly encouraged to take third-party liability insurance.
Home insurance is insurance that is intended for private homes and their annexes. Its main purpose is to cover the premises, their contents and the civil liability of their occupants.
You want to insure a house or an apartment?
In case of moving, ask yourself the right questions before insuring your new home:
- What are the guarantees included in the home insurance contract?
- Are the clauses adapted to the risks related to your housing?
- How are you compensated in case of disaster?
All laws relating to home insurance, the types of contracts and the conditions of compensation: fire insurance, water damage, burglary, legal protection, student housing insurance…etc, should be taken into account.
In France, the tenant is obliged to justify to the owner that he was subscribed under MRH. (MRH “Multi-Risk Housing”). It is a cause of rupture of the lease contract.
Is home insurance mandatory?
Home insurance is mandatory for tenants, including tenants of furnished dwellings, and co-owners.
The obligation of insurance for the co-owners is limited to the guarantee of civil responsibility towards the co-ownership, the neighbors and the thirds as well as the future tenants.
What does home insurance guarantee?
Home insurance protects the family patrimony. Most insurers offer Multi-Risk Home insurance (MRH). This type of contract covers mainly damage to property, the civil liability of the insured and the civil liability “privacy”.
Housing and furniture
The Multi-Risk Home insurance contract (MRH) covers damage that could affect the property of the insured: fire, water damage, freezing of pipes, natural disaster and storm, burglary and vandalism, breakage of ice. In principle, cash, securities, professional property and vehicles are not guaranteed by the MRH contract. Valuables are guaranteed based on contracts.
Civil liability
Civil liability guarantees you against the financial consequences of damage you have caused to a third-party. Whether it is property damage, bodily injury or intangible damage, this warranty covers events related to your home (private life), for which you are responsible. For example :
– if you are responsible for a fire, explosion, or water damage in your home.
– if you are liable for an accident that you have caused to a third even outside the insured building.
How to take out an Home insurance contract?
You can contact one of the following organizations:
- an insurance company
- a general insurance agent
- a broker
- a bank.
Feel free to contact several agents to compare their proposals because the rates set by insurance companies are free. They can vary from one company to another.
The insurance application must include a fact sheet on prices and warranties, as well as a copy and its annexes or a detailed information notice.
The documents must indicate:
- the limits of guarantees
- the conditions for triggering the guarantee for liability contracts (triggering by the wrongful act or claim)
- the applicable law and the authorities to be seized in case of dispute
If the insurance policy is right for you, you must sign it and send it back to the insurer. He will send you a certificate proving the existence of the contract.
N.B : Here are some online tools to know, calculate and compare your possible rights in home insurance: