How is the home insurance premium calculated?

How is the home insurance premium calculated?

Home insurance rates vary depending on several factors: the area of ​​the home, its location, its value as well as that of the insured property, the situation of the insured (tenant or owner), the amount of deductibles, etc. Depending on your situation and your needs, its cost can therefore vary widely. The prices of insurance companies are free, hence the advantage of comparing several quotes before making your choice because, with equal guarantees, you can have significant price differences.

In addition, if your contract contains a review clause, the insurer may increase the amount of your insurance premium each year. However, you can refuse this increase by terminating your insurance contract for increasing the premium within 15 days of receiving the notice of expiry. Finally, your insurer can also re-evaluate your premium via an indexation mechanism (index representative of price increases). If you have signed an indexed contract, the index amount should appear on the due date notice.
How to pay for your home insurance?

There are several options available to you to pay your home insurance premium:

    Payment in one installment on the anniversary date, to fall due.
    Payment in installments during the year if the contract provides for a contribution split.

In the event of non-payment within 10 days of the due date, the insurer will send you a letter of formal notice with acknowledgment of receipt. 30 days after the expiration of this period, your home insurance contract will be suspended for non-payment of your premium.

In addition to “private life” civil liability (which covers the members of your household in the event of damage or claims caused to a third party), note that some home insurance contracts add guarantees such as school insurance, psychological support. , legal aid… Look at your contract in detail, these supplements can be useful.
What does home insurance cover?

The purpose of multi-risk home insurance is to cover your home against all disasters that may occur in your home. Here is the list of what can be considered sinister.

Glass breakage. This guarantee covers breakage of glass, glazing, glass, marble and other mirrored objects, as well as furniture (oven, TV screen, etc.).

Water damage. This guarantee covers damage resulting from water damage to your property and furniture, as a result of infiltration caused by rain, by leaks, overflowing devices, broken pipes, etc.

Technological disasters. Triggered upon the publication of an order noting the state of technological disaster, this guarantee covers damage caused by an industrial installation (other than nuclear), a sensitive site or the transport of dangerous products. Valid for sites subject to declaration or authorization and classified as “Seveso”.

Damage caused to others. This guarantee protects you against the financial consequences of damage caused to third parties.

Climatic events and natural disasters. This warranty covers damage caused by storms (winds over 100 km / h), the weight of snow, damage caused by hail, ice, etc. Note that the state of natural disaster is declared by the publication of a ministerial decree published in the Official Journal.

Fires. This warranty covers damage caused by fire, explosions and implosions, lightning strikes and damage caused by utility workers.

Thefts and acts of vandalism. This guarantee covers the destruction or deterioration of your movable property, their disappearance, following a break-in or an act of vandalism. Please note, this guarantee is conditioned by the protection measures imposed by the insurer (3-point lock, alarm, etc.). You may be asked for invoices for goods.

Attacks and acts of terrorism. This concerns bodily injury as well as material goods that have been damaged as a result of the consequences of recognized acts of this nature.
How to cancel your home insurance contract?

It is possible to terminate your home insurance contract before it expires. To do this, you simply need to send your request by registered letter with acknowledgment of receipt to your insurer.