Compulsory for some and optional for others, home insurance is essential to protect against the vagaries of life. By insuring your accommodation, you will be compensated in the event of a claim in it. The costs relating to repair work and damaged furniture will be covered. The same applies to material damage or bodily injury caused to third parties.
Is home insurance compulsory for everyone?
Taking out home insurance is not compulsory, but is strongly recommended for non-resident owners, as they could be called into question in the event of damage caused by the accommodation to third parties. On the other hand, it is obligatory for all tenants and roommates. It has also become mandatory for condominiums since the implementation of the ALUR Law on January 1, 2015.
The trustee, responsible for subscribing to condominium insurance
The underwriting of condominium home insurance is the responsibility of the trustee. The latter must make a proposal to the general meeting, which will vote unanimously on the subscription decision. To contract an insurance contract, the co-ownership trustee must submit to the insurer a statement listing the claims that have occurred and have been compensated in the building over the past 3 years.
Do the co-owners and residents of the building also have to take out home insurance?
Tenants, co-tenants, co-owners, whether occupants or not, must take out home insurance. The liability insurance is compulsory for all homeowners ALUR according to law. Moreover, it is generally required by the co-ownership regulations.
The lessor co-owners will have to take out PNO (non-occupying owner) insurance . This insurance generally covers damage caused by the equipment and installations present in the accommodation when the responsible tenant is absent.
As far as tenants are concerned, they must at least take out civil liability insurance. The ideal is in this case to opt for a multi-risk insurance to guarantee the furniture, the personal effects and the private civil liability.
If you are in one of these cases, do not hesitate to ask for one or more home insurance quotes before taking out a contract with an insurance company . This will allow you to benefit from the offer best suited to your needs, your expectations and your budget .
What are the risks incurred in the event of not taking out home insurance?
Failure to purchase home insurance can result in several significant penalties. First of all, note that you will be held responsible in the event of a disaster in your accommodation . As a result, all costs related to material damage and bodily injury caused to third parties will be your responsibility. The total amount to be reimbursed can be very high depending on the damage.
In addition, it is important to know that the victim has every right to take legal action for lack of home insurance . In addition to reimbursing the cost of the claim, you could be required to pay large sums of damages. On the other hand, the syndic of co-ownership can be struck off by the courts.
What is the difference between group condominium insurance and home insurance?
Even if they are relatively similar, group co-ownership insurance and home insurance have very specific points that must be taken into account. Before understanding these differences, it should be known that the co-ownership regime includes two distinct types of parts according to the law of July 10, 1965. The common parts belong to all the co-owners, they are the stairs, the corridors, the floors, the elevator, roof and walls. Anyone can benefit from it. Conversely, the private parts belong only to a co-owner and are therefore reserved for his personal use. It can be an apartment, a cellar, a private box or a parking space.