French Property Insurance
You’ve finally done it. Those countless television programs advertising properties abroad you watched tirelessly has finally made you take the plunge. And now you have a home in France.
The next logical step to do is get a French property insurance that is suitable. You can get French property insurance even if you will only be using that house as a second home or a cozy holiday place to stay in. And while you’re away, you can even make an investment out of your second home with its French property insurance by letting it to tourists or locals.
Your French agent or Notaire will ask you for proof that you have French property insurance before you exchange contracts and finish the sale. If you have no French property insurance, the Notaire will recommend a French property insurance company.
What does French property insurance cover?
French property insurance covers buildings and its contents. French property insurance for buildings includes the actual structure of your French home. French property insurance also encompasses the cost for repairs or rebuilding, debris removal, and professional fees should loss or damage arise.
Damages by natural causes like earthquake, fire, storm, flood, and burst pipes should be covered by your French property insurance. Another thing that your French property insurance should cover are fixtures and fittings within the structure of your home and that includes kitchens and baths.
French property insurance for the contents of your house should be included, even if you’re only going to use your French home as a vacation hideaway. French property insurance will pay for the replacement of valuables lost, stolen, or damaged.
How much should you spend for your French property insurance?
Most people think that their French property insurance should be enough to cover the current market value of their French house. Do not make the mistake of doing this. French property insurance should cover the cost of rebuilding the property. The cost of rebuilding is equal to the full cost of the building’s construction. That means that your French property insurance must include all outbuildings, barns, domestic oil and gas pipes, and domestic oil fuel tanks. You can even go so far as getting French property insurance that covers your swimming pool, tennis court, drives, patios, terraces, walls, gates, and fences.
In cases of theft or damage to items in your house, you should calculate your French property insurance based on the sum of the total cost of replacing the lost items. The prices that you quote for your French property insurance should also be based on the current prices of today’s market.
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