How do you know if you need to take out home insurance? Owner, tenant, co-owner, housed free of charge… Depending on your accommodation situation, you are required or not to take out home insurance. This article will help you understand how to know what to do in your situation. The first thing to know is that home insurance is compulsory when you are a tenant. Indeed, once signed your lease, you have one month to send your landlord a certificate of insurance.
After this period, you risk expulsion. This certificate must be renewed each time the lease is extended and returned to the owner or lessor. As the owner, you do not have to take out home insurance if you rent the apartment to a third party. It is the tenant who must take care of the insurance. In the case of a property or a condominium in which you live, make sure that your name appears in the insurance contract: all the people belonging to the household must be included so that the conditions of guarantee are applicable for all.
Think about liability
If you are hosted free of charge, you must also take out insurance because it allows you to cover yourself. Home insurance includes civil liability (RC), this allows you to be covered in all circumstances. This RC allows you to be covered if you injure or harm a third person unintentionally or if your place of residence harms another.
You must therefore be well aware of the situation in order to ensure that you are well covered. Some people wonder if it is worth keeping their insurance in case of a change of situation (moving house, tenant who acquires a property, marital change) or if it is easy to change company when you are not satisfied by its existing coverage. know when cancel your home insurance is very important because in the event of bad information or an inopportune decision, you could find yourself helpless if a problem arises. Only cancel if you are absolutely certain that, despite your change in circumstances, you are still covered for all risks. Likewise, ensure that your new contract takes effect immediately so as not to leave a period without coverage.
How far does home insurance coverage extend?
Concretely, what does your home insurance cover and how to choose the right one? Already, you should know that home insurance is essential in the event of glass breakage, disaster, burglary or natural disaster (storm, flood, storm). Water damage, for example, is the most common claim. This can start from a poorly closed tap or be linked to faulty piping. Very quickly, water damage can impact your home but also that of a neighbour. Without insurance, it is up to you to reimburse the work necessary for the rehabilitation of the premises (your accommodation and that of the neighbor who suffered the damage).
Fires, caused by human error (poor handling of the fire, for example), by a climatic phenomenon or by a malfunction of the heating or the electrical network, are also very dangerous. Although they are less common than water damage, they are very costly because in the worst case, they can cause the total destruction of the dwelling. It is therefore important to be well covered but also to adopt the good reflexes to prevent of such danger. The issue of theft also needs to be clarified because many policyholders do not really know what is reimbursed by their insurance. You must check the clauses of your contract to find out how you can be reimbursed for your devices if they are stolen from you inside your home.
The region of residence impacts the price
All of these risks must be taken into account when evaluating the suitability of home insurance. You should also know that depending on your region of residence and the size of your accommodation, the price list varies. For example, the risk of theft is higher in the Île de France region because of the population density, but also in Provence-Alpes-Côte d’Azur where isolated and less inhabited villas represent easier prey for burglars.
Similarly, insurance companies study the climatic and geographical data of the territories they cover in order to assess the possibility of natural disasters occurring. Depending on all the potential risks and the accommodation you wish to insure, the rates offered are therefore different from one region to another. Now that you have mastered the parameters of home insurance, you are able to know whether you should quickly subscribe to a contract or not.
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