It is not always mandatory to have home insurance, but it is true that in some cases it is necessary to be able to access housing. What’s more, the possibility of taking out housing insurance offers various significant advantages for a more serene daily life. So in which cases is home insurance compulsory? What are the advantages ? How to subscribe? Explanations!
What is home insurance?
I’Home Insurance is an insurance contract intended to protect the family patrimony, it is most often referred to as multi-risk home insurance. This type of contract then makes it possible to benefit from coverage for damage to property, the civil liability of the insured and “private life” civil liability.
Housing and furniture coverage
The first reason for taking out housing insurance is the possibility of seeing the damage that could affect the property of the insured person covered, which means that the latter will receive financial compensation. This cover comes into play in certain specific cases such as fire, water damage, natural disaster, burglary, etc. Coverage and support, however, depend on the type of offer that has been subscribed.
In addition, home insurance only applies to specific properties such as:
- Residential premises
- The share of the common parts for the co-owners
- Garages and cellars
- Real estate developments
- Fences and retaining walls
- The verandas
Other goods will be excluded, such as garden sheds or buildings under construction, for example.
The civil liability of the insured
Civil liability is present in most basic home insurance contracts. It makes it possible to compensate neighbors and third parties who are victims of damage for which the policyholder is responsible.
“Private life” civil liability
Finally, “private life” civil liability covers the insured and the members of the household in the event of damage caused to a third party, such as bodily injury, but also material damage.
Is home insurance compulsory?
Home insurance therefore allows you to protect yourself, but also your property and those around you in the event of a claim. It is not compulsory for owners, but strongly recommended, otherwise the costs relating to a claim will have to be borne.
However, it is mandatory for tenants. Thus, when a tenant wishes to sign a lease for a property, he must send the lessor proof of home insurance, otherwise he will not be able to benefit from the rental. What’s more, the co-owners of a property must also have home insurance with at least civil liability as a guarantee (more information on the operation of co-ownerships on the blog Realty).
How to subscribe to a contract?
There are many insurance companies that offer home insurance contracts for individuals. A quick online search will reveal many offers, but also and above all to establish quotes. Indeed, requesting a quote as well as the details of the guarantees taken into account is the best way for an individual to choose an offer that corresponds to his needs as well as his budget. Moreover, the type of accommodation, its surface area or the equipment it includes will have a direct influence on the price offered (more information on the subject here).
In the event of a change of contract, it should also be checked that termination is possible, as this varies depending on the circumstances.