Property insurance is a contract under which the insurance company undertakes to fully or partially compensate for the damage caused to your property and its contents upon the occurrence of certain events. This contract also covers damage that you could inflict, for example, if your child breaks a neighbor’s window while playing football.
As a rule, the insurance policy is valid for a year, and most of these contracts have a clause on auto-prolongation, i.e. automatic renewal. This means that if you want to terminate the contract, you need to send the insurer a letter of completion of cooperation, no later than one month before the specified date.
In a property insurance contract, you should carefully study each article to avoid disappointment and misunderstanding. Insurers include certain guarantees in the contract, but you should definitely check that the policy includes those items that are critical for you.
How to Find An Insurance Company?
The offers on the property insurance market in France are diverse and vary greatly. You can use four channels to find the right insurance option:
An insurance broker
The insurance broker will be able to collect and compare for you all the offers available on the market. He does not sell insurance contracts to you. He helps you find and buy the best insurance policy.
Today, most French banks have a property insurance service. The following French banks offer property insurance.
- BNP Paribas;
- Credit Agricole.
Large insurance companies
There are many large real estate insurance companies in France. One such company is the French insurance group Axa.
Online insurance platforms
There are insurers represented only on the world wide web. They are usually associated with several key players in the market, such as banks or large insurance companies.
What Exactly Do Insurance Policies Cover?
All possible risks are covered by multi-coverage policies. They allow you to expect to cover losses if you become the source or the victim of the damage. This is the most comprehensive and most common type of property insurance that you can find in France. Often, it includes:
- Civil liability (includes compensation for damage caused to third parties);
- Explosions, fires, fires;
- Water damage (covers damage caused by flooding);
- Glass (Covers damage (breakage, cracks) of windows);
- Natural disasters;
- Storm and other climatic events;
- Technological disasters;
- Riots and popular movements.