When insuring a property, whether as a tenant, owner or co-owner in a condominium, not only should you consider covering your contents, personal effects, but most importantly any items of value. These may be jewellery, antiques, paintings, etc…
Standard household policies offer very limited cover in terms of sums insured on items of value, and conditions are very restrictive.
Another important factor to take into consideration is liabilities. Cover required obviously varies whether you own (sole-proprietor or co-owner) or rent.
We, at The Eric Blair Network, will guide you and propose an adapted solution. The following information only applies to risks located in France and Monaco.
Household insurance is probably one of the easiest types of insurance to subscribe to, but one of the most complicated to explain when it comes to coverage provided. One important factor to know is that French Insurance policies are adapted to the way French Laws are written up. In this sense, coverage always considers liability to third parties as the foundation of a policy. Then, buildings and contents are considered.
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.
Under French Law, are considered contents any items which can be moved.
Standard French Insurance policies mainly cover specific perils such as fire, theft, water damage, electrical risks. This may be sufficient when contents are considered as standard. But a much higher level of cover is available which is know as “all risks”, which may include “new for old”. The latter extensions must be requested and will obviously implicate a higher level of premium.
Whilst items of value may be considered as part of contents, coverage provided is usually very limited, if covered at all, and a separate scheme should be considered where these items would be valued and scheduled thus avoiding disputes should a claim occur.
Obviously, no coverage needs to be provided on the structure as it is not your property.
Nevertheless, specific liabilities relating to your tenant’s status must be included in your policy, whether towards the building, the owner, other occupiers or even third parties.
Contents will also need to be covered. Please refer to the “Contents” section.
On 1st January 2004 the law of 3rd January 2003 regarding swimming pool security came into force. This law has been introduced in order to reduce the number of deaths by drowning in private open-air swimming pools, especially amongst young children. All pools, fully or partially buried, are affected by this law including family pools, those shared by a Residence, holiday clubs or centers, hotels, “gîtes”, or campsites.
All new swimming pools installed/built as from 1st January must be equipped with an appropriate security system.
The law dictates that as from 1st May existing private pools must also be protected if they belong to houses subject to seasonal lettings.
Thereafter all private pools must be fitted with security systems as from 1st January 2006.
All security systems must meet French standards according to those stated in the ‘journal officiel’ of 16th December 2003:
Specifications for fencing systems:
Any means of protection can in no way replace the vigilance of a responsible adult. Children should be supervised at all times.
This translation is for your information only.
At the beginning of each school year, you ask yourself the question ‘should I insure the children?’. At school, on the way, at home or during the holidays, your children could cause or be victim of an accident. Assurance scolaire has now become a necessity.
Are school children obliged to have insurance?
What are the advantages?
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