Do owners and tenants have to insure their housing?

(Sponsored article) Water damage, climatic events, burglaries, fires… home insurance can help protect against a large number of losses. But is it obligatory to subscribe to one?

More than 10,000 claims per day : here is the number of incidents that occurred in French housing in 2020 according to data from the Statista institute. Restoration, repairs, rehousing, replacement of damaged furniture… such an event can weigh heavily on a household’s finances, and cause serious financial difficulties. For protect your home, your family and third parties, it is therefore recommended, and sometimes even compulsory, to take out home insurance.

Insuring your accommodation, is it really obligatory?

L’Home Insurance allows take charge the cost linked to guaranteed events, such as water damage, fire or even burglary. Its interest, whether you are an owner or a tenant, is therefore obvious. However, the subscription to this contract is not not always obligatory.

-An optional, but recommended, insurance contract for owners

You are owner of your house or apartment? In this case, you are not required to subscribe to a Home Insurance. Indeed, no legal provision obliges the owner of real estate to insure it. But beware : without insuranceyou will have to bear all the consequences of a disaster, for example damage caused to third parties or repairs to the home.

To avoid having to bear a disproportionate financial burden, it is therefore strongly recommended to subscribe home insurancewhether you own your main residence, a vacation home or have invested in rental property.

Good to know : as an exception, co-owners must take out at least civil liability insurance in order to protect the co-ownership and their neighbors.

-Tenants forced to take out “rental risks” insurance

If, in principle, owners are not required by law to take out home insurance, the situation is different for tenants. In fact, home insurance is OBLIGATORY for tenants of bare or furnished accommodation. More specifically, the tenant must take out insurance “rental risks” which allows the coverage of resulting damage:

  • a fire;
  • of an explosion;
  • of water damage.

The “rental risks” guarantee, the only mandatory one, is nevertheless insufficient for tenants wishing to be sufficiently protected. In fact, are not not taken into account damage caused to third parties, for example neighbors, nor those on personal property, for example furniture or household appliances in the home. Only insurance home multi-riskalso called MRH, helps protect against all of these risks.

What is home insurance for a house or apartment used for?

The comprehensive home insurance contract (MRH) offers extensive coverage, both for tenants and owners. The guarantees offered nevertheless vary from one contract to another, and from one insurance company to another.

Among the guarantees included in MRH insurance are:

  • there public liabilitywhich makes it possible to cover bodily injury caused to the insured and his family;
  • THE water damage, which is the most widespread disaster according to data from the Statista institute; fire, for example following an explosion or lightning;
  • THE theft of movable property and possibly valuable goods, subject to compensation ceilings;
  • THE broken glass ;
  • THE natural, technological and storm disaster guarantees.

At the level of buildings taken into account, for example outbuildings, garages, or even cellars can be taken into account, provided that this is included in the contract. On the other hand, plantations, garden sheds and swimming pools are generally not included, and it is therefore necessary to take out a specific guarantee to be able to cover the damage caused to them.

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Good to know : under the effect of climate change, claims have increased in recent years, and insuring your home is therefore becoming more and more important.

How much does home insurance cost?

On average, the comprehensive home insurance premium was established at €268 excluding VAT in 2022 according to data from France Assureurs. A sum which can vary depending on the place of residence, the surface area of ​​the insured property, the guarantees and options taken out, as well as the type of accommodation. On average, a apartment costs €190 excluding tax per year, compared to €400 excluding tax for a House.

But this is an average. For example, the broker Solly Azar offers insurance for a type 1 apartment in Ariège from 8.98 euros per month, i.e. less than 110 euros per yearin formula 2. Contracts which notably include civil liability of up to 100 million euros, insurance of valuable objects up to 1,500 euros, and the possibility of choosing the amount of your deductible, between 150 and 300 euros.

Other insurances are offered by Solly Azar, to find out more, go to the website sollyazar.com.

Generally speaking, to achieve savings on your home insurance contract, it is necessary to regularly compete. Every two or three years, requesting several quotes from insurance companies can help lower the price of your home insurance.

How to take out the right home insurance contract?

The attractive price of a home insurance contract should not be the only selection criterion. Indeed, it is important to keep in mind that HRM insurance must above all cover properly the owner or tenant of the house or apartment. Therefore, it is essential to ask ourselves certain questions :

  • Do the guarantees offered correspond to my needs (value of furniture, valuable objects, etc.)?
  • Does the level of frankness seem correct to me?
  • Do I have to take out additional options (swimming pool, new equipment, etc.)?
  • Aren’t certain guarantees duplicated with other insurance contracts (for example a legal protection contract)?

To answer these questions, it is necessary to take the time toanalyze different offers, and in particular to consult the general and specific conditions of the contracts offered. For save time and simplicityit may be interesting to call on a broker, like Solly Azar. As a specialist in the insurance sector, this type of actor can make it possible to take out home insurance in best pricewithout compromising on guarantees.

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