Home insurance is compulsory for owners and tenants. This is a recurring expense for the persons concerned which they cannot avoid as long as the property is under their responsibility. In this context, it is important to opt for a reasonably priced contract offering the most protective guarantees.
There are a multitude of factors that cause the price of home insurance to fluctuate, starting with the profile of the insured. The insurer screens his profession, his age, his marital status and the number of dependent children to establish his pricing.
Residence is another key criterion. In the biggest cities like Paris, Lyon or Marseille, we see that prices are soaring. Nevertheless, it also happens that the costs are quite high for houses located in remote areas and used as second homes, as they are more easily targeted by burglars.
On this point, you should know that the installation of security devices has an influence on the price of coverage. A home with CCTV, alarms and secure locks costs less to insure.
The use of the property also comes into play. Is it a main or secondary residence, a rental, colocation, subletting or seasonal rental?
The insurer will at the same time take into account the value of movable property and valuables declared when subscribing to the contract.
Added to all this are the guarantees chosen and the deductibles which have a significant impact on the pricing.
There are significant differences in the cost of home insurance. As indicated above, the prices will depend on several criteria. According to the French Insurance Federation, the average price of such coverage is 20.90 euros per month and 251 euros per year. We see that tenants or owner-occupiers will pay more than non-occupant owners, which is relatively normal given that the risk of loss is greater. Thus, the cost of their contract is 22.60 euros per month or 271 euros per year. A non-occupant owner will only pay 11.30 euros per month and 136 euros per year. The price differences are also palpable from one region to another. Basic home insurance without adding specific options will cost, for example, 412 euros per year in Nice for a 5-room house compared to 335 euros in Lille. In Rennes, the rates are more affordable, because a contract will only be priced at 279 euros.
There are different solutions that can reduce the cost of home insurance. The first method is to play the guarantees. Among the most essential are the fire-explosion and water damage guarantee, the storm and climatic event guarantee, the natural disaster guarantee, the theft and vandalism guarantee and the glass breakage guarantee.
In addition, it is also possible to contain the cost of the contract by choosing a higher or lower deductible. Obviously, this is not the wisest trick, because in the event of a claim, the remainder payable by the insured may be high. Nevertheless, this solution is effective in significantly reducing the amount of the annual premium.
Finally, do not hesitate to use a home insurance comparator. Since the rates are free in the sector, the comparator makes it easier to find a contract offering a good price without compromising on the quality of the guarantees. The insured thus gains peace of mind by insuring his home with the best possible protection.
