Home Insurance for Renters

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Home Insurance for Renters

07 / 01 / 19

A new place for a new start… often moving to a new place feels like a milestone. Stressful of course, but somehow magical and full of promise. However, these passages in life always seem to come with obligations that we could all live without…. You’ve signed your rental contract but now you’re being told you need “Proof of Insurance”? Insurance for what? How do I get it? How do I choose which to take? Is this really necessary? Don’t worry, we’ll explain!

Rental insurance, mandatory in France

When renting in France, whether it’s a flat or a house, everyone has to get insurance: no way around it. No insurance, no keys. Under French law each renter is responsible for the damage they cause to the property they’re renting and must protect themselves financially against this risk (called “Risques locatifs”). Rental insurance protects us renters against water damage, fire damage and explosion damage, the three pillars of rental risk.

Professional housing isn’t subject to this law, though it is still highly recommended to take insurance as the same risks exist.

The landlord or rental agency can ask for proof of home insurance before handing over the keys and may also ask for continued proof each year upon renewal. Without proof that the tenant is insured, the landlord can purchase insurance for the property and charge this to the tenant each month, adding up to 10% extra as fees… not ideal, right?

Keep in mind: the landlord is responsible for any damages caused by poor construction or maintenance of the building. The renter is responsible daily upkeep, such as removing calcium deposits or repairing joints in the bathroom for example.

What about my roommates?

You only need one of your roommates to have renters’ insurance to fulfil the French insurance obligation.

Be aware: if something does happen, French law states that each roommate must pay a portion of the repair costs equivalent to their percentage of the rent. If the damage caused is covered by their renters’ insurance, the same logic applies to the deductible (amount that the insured pays in case of an incident).

Another point: depending on the insurance chosen, you may or may not have coverage for personal and civil liability. This covers any damages you may cause to others through inattention, negligence, by your pets (or those you’re looking after), or by any items you possess… Make sure to check if this is included and whether it applies to your roommates. Otherwise, each roommate will need their own personal and civil liability insurance to be covered.

Choosing the right home insurance

Home insurance needs to group all of the necessary coverage to face the unexpected that might happen to a property and the contents within (furniture, appliances, precious items, etc.)

A full renters’ insurance product includes the following coverage:

Water leaks
Fire and explosions
Theft and vandalism
Broken glass
Storm
Natural and technological disasters
Terrorist acts

Be careful, some of these may be excluded by insurers. You’ll need to check to ensure whether the full list of risks is included before making your choice.

Theft and broken glass are two guarantees that are often excluded by insurers. At Homebrella, we don’t like bad surprises, so we include all these by default in our contract. #NotBragging

What coverage do I need?

The recommended coverage for renting in France is called MRH (multi-risk habitation). It’s a comprehensive product that shouldn’t break your bank. What does MRH mean? Behind this technical lingo hides a simple concept: renters’ risk + personal liability.

While not mandatory, personal liability coverage is essential as it protects you from accidental harm you may cause to another person or property in your daily life, well beyond your home.

With Homebrella, this personal liability coverage also applies to your family and anyone else living with you.

Alright, how much?

Depending on your profile, your rental (size, location, etc), and how much content you are insuring, you should plan for between 100€ and 300€ per year.

Beyond the price, make sure to check the conditions and deductibles (amount you need to pay if there is an incident) before signing up.

What’s that about deductibles?

Deductibles can either be set at a fixed amount (150€ per incident for example), or can vary as a percentage of the cost of the claim (i.e. 10%).

With Homebrella, the maximum deductible is the same for all of our guarantees, and it’s at 150€.

What is the length of an insurance contract?

Most of the time, these contracts are for a one-year minimum and renew automatically unless you go through the steps to have it cancelled..

Before the first year is up, certain cases (marriage, new children, change of profession, moving out…) can let you cancel the contract early. Read our article on the subject to learn more about this.

Our contracts are no-commitment. You’re either happy with us or we’re not going to force you to stay 🙂

Homebrella renters’ insurance

Our mission is simple: make life easier for renters. To do so, we created an insurance offer that was designed and tailored to renters’ needs. Our product gives modern renters everything they need to live with an easy mind, without charging extra for unnecessary add-ons.

No-commitment
No more long-term contract traps, feel free to follow life where it takes you!
A great price, guaranteed
The idea is to protect our clients, not ruin them
Sign up online, insured the same day
No need to take time out of your already busy schedule, sign up in minutes…
No fine text, no hairy language
we do all we can to explain clearly and simply exactly what you’re paying for

We’ve also made the difficult choices easy, because we’ve all been renters ourselves:

One single deductible for renters risks (€150)
All essential coverage included in every policy

By now you should be a French renters’ insurance expert! Nothing left to do but grab your Homebrella quote right here.