Regardless of whether you are a tenant, owner or co-owner, choosing home insurance is crucial. But how do you combine protection and savings without compromising your guarantees and level of cover? And faced with the many offers on the market, how do you navigate and optimize your choice? Should you choose cheap home insurance? What protection does your contract actually provide? What are the right questions to ask yourself before subscribing? Here are some tips to find the home insurance that suits your needs and is optimized in relation to the budget.
Who should take out home insurance?
This concerns both landlords and tenants. Advice from maif.fr to find your way…
Homeowners Insurance…
For owners, home insurance is not mandatory, but it is strongly recommended: it provides important protection for your property. It generally covers damage caused by events such as fire, flood and sometimes even natural disasters. But it is not limited to construction. It can also cover the belongings inside your home in case of theft or damage, which emphasizes the importance of properly assessing the value of your belongings for adequate coverage. Its choice must be careful, adapted to your specific needs and part of the logic of an economy.
… and on the tenant side
For tenants, home insurance is a legal obligation to cover rental risks. It protects your liability in the event of damage to the rented accommodation, but also to your neighbours, if they are affected by you. These damages can be of different nature, which must be mentioned in the contract. Depending on your choices, this covers both the home itself and your personal property in the event of theft or damage. It is therefore important to assess the value of your property and the extent of the cover you take out.
Each profile will therefore correspond to a suitable home insurance policy.
Tenants typically focus on rental risk coverage and personal property protection, while landlords also need coverage for the building itself to protect the lifetime investment. In both cases, a careful approach and comparison of offers is essential to obtain adequate protection at an optimal price.
What type of home insurance should I buy?
There are basically three types:
Basic home insurance or “rental risks”
It is the cheapest: it provides minimal protection. It mainly covers damage to the home for risks of fire, explosion, water damage, etc.
“Multi-risk” home insurance
This is the most common choice. The coverage is broader and generally includes civil liability, which covers damages to third parties. It can also cover movable property in the event of theft, vandalism, etc. and sometimes even natural and technological disasters.
“All risk” home insurance
This is the most comprehensive level of home insurance and therefore the most expensive. It provides coverage for almost any possible type of damage. This insurance may also offer options for additional coverage, such as valuables insurance.
The level of coverage and specific guarantees for your contract must therefore be adapted to your particular needs: type of housing (house, apartment), situation (rental, property, shared ownership) and the value of your property.
Each insurer defines its policies for guarantees and exclusions, it is advisable to read the contracts carefully and compare before choosing your home insurance.
Assess your needs and compare to choose your cheap home insurance
As an owner or tenant, it is in your interest to compare offers to find cheap but comprehensive home insurance. But beware: price is not everything. You need to balance the level of coverage you are looking for and the guarantees in your contract.
It is therefore important that you fully understand what the home insurance you are offered covers. The classics are often covered (fire, water damage, theft, etc.), but what about your valuables? They may require additional coverage. Have your contract explained to you to adapt it to your needs. Because if you take out home insurance that is too “flush with the daisies”, in the end it will be you, the insurer of your property, who assumes all the risks.
Once your insurance has been taken out, you must finally keep in touch with your insurance company. Remember to reassess your contract regularly, especially if you acquire new valuable assets or if your situation changes. This way you will optimize your protection and save money at the same time.
In conclusion, the choice of home insurance requires some thought. By taking the time to understand the different offers and determine your needs, you can find the insurance that suits you best and optimize your protection. That’s where your real economy is.