As a tenant, it is mandatory to insure your home to cover damage to your property in the event of an injury. The city of Paris wantsgive as many people as possible access to home insurance and curb the consequences this can have for people who are poorly insured or uninsured (the absence of insurance is a reason for breach of the lease and eviction)”. It is launching Parisian home insurance for low-income and middle-class renters in partnership with insurer Wakam and insurance broker Vyv on January 9, 2023. The signing of the partnership is scheduled for Tuesday afternoon. This insurance covers the main risks, but also theft, glass breakage and electrical damage.
Who can access it? Parisian tenants (including shared housing) of social housing and private housing, subject to means testing. A single person must earn €24,316 per year (ie €2,026 per month) and a couple €36,341 (ie €3,028 per month). Limits that will be updated every year. “This is potentially about 400,000 householdss”, predicts Ian Brossat, deputy mayor of Paris in charge of housing, interviewed by The Parisian.
Is this new home insurance really more beneficial than the others? The prices offered by this insurance are identical in all the arrondissements of Paris, while the arrondissement affects the price of other home insurance policies. “This is partly explained by the attractiveness and influence of the various districts (historical monuments, cultural sites, etc.), but also by the property context in these districts.“, according to insurance comparator Les Furets.com. The 1st, 3rd, 5th and 13th arrondissements of Paris are in the cheapest arrondissements in terms of home insurance in Paris. Conversely, the 8th, 9th, 16th and 17th arrondissements are among the most expensive arrondissements.
Savings of €50 per year for a study
And in terms of cost, Parisian insurance is also more advantageous than the others. For a study, count €130.18/year or €10.85 per month. According to Les Furet’s insurance comparator. com, the average price of home insurance for a one-bedroom apartment is around €180 per year or €15 per month. The lowest prices would be €93 and the highest would be around €266. The gain would therefore be €50 per year with the new home insurance. Correspondingly, for a two-room apartment, €167.65/year or €13.97 per month, while other home insurance companies offer an average annual rate of €233, therefore €19 per month, i.e. a saving of more than €60. per year. No application fees for this Parisian insurance or exclusion criteria for previous claims. This insurance does not cost the municipality anything, as it is the insurance company and the broker who cover the costs.
With regard to the excess, the sum that remains the responsibility of the insured after an injury and will therefore not be reimbursed by the insurance, it is €120 regardless of the injury. According to the insurance broker Réassurez-moi, the deductible amount varies from one insurance to another: from €380 with Allianz to €240 with Groupama, via €160 with Maaf or €157 with Axa. . Here too, Parisian home insurance seems to be winning the battle.