Do I need buildings and contents insurance cover?
French law requires you to insure your French property against damage, fire and other risks, including third party liability. Cover must be taken out with effect from the actual date of completion of your purchase. You can transfer the seller's policy to you, but notice is normally required to cancel a policy, failing which it is automatically renewed at the renewal date. Your insurers may insist on extra security measures to prevent theft and damage. These measure sometimes include heavy-duty steel or aluminium shutters, new locks and burglar alarm systems, which are not only expensive but will need full-time monitoring, so incurring ongoing costs. We can refer you at the appropriate stage to one or more independent insurance brokers (English-speaking) who will effect the right policy(ies) for you.
Is there any risk of burglary?
Normally no. If the doors of the building are closed and your windows are not accessible from the ground, you are pretty safe. If you leave a Picasso in your property, itís safer there than in most other places in the world, but nonetheless we advise you to install an alarm. And, of course, donít stash cash or jewellery under your towels or on the top of cupboards.
What about life insurance?
All lenders will insist on life-insurance coverage. Life insurance can be taken out with a French insurer or a recognized foreign insurance company. Your lender may have a block contract with a French life insurer so that they can arrange cover for customers at preferential rates.
These pages answer some frequently asked questions about insuring French property and contents. Please read our disclaimer. Please feel free to raise any interesting points you may have. Just contact us. This is not an advisory service but we are happy to informally exchange views on interesting points raised. Just click here.