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French Property Insurance
A second home does not mean it requires only second-rate insurance. Say for example, you bought a property in France. Whether this one would just serve as your holiday house, a winter hovel, or romantic spot, you still need the right French property insurance coverage.
So we’re down to the basics. Any house is considered an investment. You can have your home in France let to local tenants or even tourists. That way you can get a return of the money you have invested on that piece of property. Now, here comes another problem. Damages to the house or its contents can cost you money. The solution? French property insurance.
Before you can buy a home in France, your French agent will ask for proof that you have French property insurance. Before handing out the contract for your French home and closing the sale, the agent needs your French property insurance as an underwriting requirement.
When you purchase your French property insurance, make sure that you read and understand the small print. This is where you can see the scope and restrictions of your French property insurance coverage. If you don’t speak French, then you have a problem. But don’t resort to despair just yet. You can still get French property insurance even though you don’t know your French ABCs. A lot of UK insurance companies are offering French property insurance policies that are designed specifically for holiday homes in France.
What is the insurance coverage in French property insurance?
Most French property insurance includes coverage for buildings. French property insurance covers the actual structure of French home in case of damage due to fire or storms. French property insurance pays for the cost of repairs or rebuilding. Debris removal and professional fees following loss or damage are also covered by your French property insurance. Perils such as earthquake, fire, storm, flood, and bursts pipes are all included your French property insurance. In addition, some French property insurance companies include coverage for fixtures and fittings within the buildings like kitchens and baths.
Aside from buildings, French property insurance also pays for the replacement of lost items or belongings caused by the same perils that damaged the house. These contents that are covered by your French property insurance include furniture, furnishings, televisions, personal belongings, et cetera.
You can also customize your French property insurance policy to cover damages due to accidents caused by guests if you plan on using your French home for holiday letting. If this is the case, you might also want to add a loss of rental income clause in your French property insurance. Some unforeseen incidents might prevent you from letting your house and loss of income resulting from this may be compensated with your French property insurance. Moreover, make sure that you include a natural catastrophe clause in your French property insurance to cover losses caused by floods.
What are the policy conditions of your French Property Insurance?
Most French property insurance policies stipulate certain conditions in the small print. This is why it is always important to read the small print before signing your French property insurance contract – or any contract for that matter. To make sure that the cover is right for you, always read and understand the small print of your French property insurance. In this way, you won’t experience any complications when you file your French property insurance claim.
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