Insuring an owned property

In this case, if the property to insure is a villa, you will need to cover buildings.

Not many people know that French Insurers do not need to know the value of these buildings, they will automatically be covered on a full reconstruction value “as was” at the time of the claim.

Your liabilities as owner also differ from a tenant’s liability and these must be included in your coverage.

If the property to insure is an apartment in a condominium, the “Syndic” should have taken out a policy covering the structure. But he may not have included all possible perils and we would advise that this be checked out with him directly. In some cases, he may exclude fixtures and fittings done by the owners. We always recommend that a separate policy be taken out to cover eventual ‘loopholes” in the condominium policy, which will also include specific liabilities as a co-owner.

If the property to insure is an apartment but where there is no “Syndic”, then each owner will need to cover his share of the buildings plus their liabilities. In all of these cases, contents will also need to be covered. Please refer to the “Contents” section.