The french have a more dirigiste border on to insurance than many new arrivals may be used to. Where liability is concerned, for example, you will frequently need coverage. This guide is designed to offer a complete visualize of policy in France, and to make sure you are properly insured while living in France .
Topics covered in this usher admit :
- 1 Overview of insurance in France
- 2 Which insurance in France is legally required?
- 3 Optional forms of insurance in France
- 4 Commercial insurance in France
- 5 Useful resources
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Overview of insurance in France
France is one of the earth ’ s most develop indemnity markets, ranking one-fifth globally and second in Europe ( behind merely the UK ). The french policy sector brought in a tax income of €293 million in 2017 and there are 285 indemnity companies operating in the country .
The Banque de France regulates insurance in France through the Autorite de Controle Prudentiel et de Resolution ( ACPR ). Over 260 policy companies in France belong to to the french Insurance Federation ( Federation Francais de l ’ Assurance – FFA ) .
french residents are legally required to take out a number of unlike insurances. In accession to this, you can purchase diverse optional insurances excessively .
naturally, there are many companies and policies to choose from. You may contact an insurance company on-line, through a local agent or via a agent. Banks and supermarkets besides offer indemnity policies. policy companies in France include :
You can besides check out our directory of policy companies in France .
Which insurance in France is legally required?
All residents in France need to have health policy coverage. As of 2016, France ’ mho Protection Universelle Malade ( PUMA ) has covered residents in the area. This covers expats working in France from their first day, while early legal residents can access state health insurance if they have lived in the country for three straight months on a ‘ stable and regular basis ’ .
however, the system has its limits. many expats and french citizens will, consequently, take out top-up private policy. Large private external health indemnity companies which provide coverage packages for expats include :
Whether you rent or own your french home, you must have a home indemnity policy before moving in. Around 90 % of home-owners in France have a multi-risk policy, but you can besides purchase branch coverage. Home insurance should cover :
- Building insurance – covers damage to the building caused by things such as fire, water damage, natural damage, and vandalism. Check individual policies for exact coverage. This is mandatory for renters and those with a mortgage but not for those who own their home outright.
- Public liability insurance – compulsory for all residents to cover their own responsibility for damage to third parties and property. Tenants in rented accommodation will usually need this. It’s possible to purchase this as part of a separate third-party liability insurance, but home insurance packages often include it.
- Contents insurance – optional coverage for personal belongings but often available for a lower premium when included as part of a multi-risk home insurance policy.
- Construction insurance – it is mandatory to insure major construction works carried out on your property by a decennial cover called dommages ouvrage. This protects against defects in the work carried out. Some multi-risk packages offer this. You can also purchase it separately.
Policies can cost from adenine short as around €100 a year although can rise to
€300-400 depending on property value and extent of coverage. With an expat-friendly indemnity broker, such as, you can obtain coverage or helpful advice in English. These include :
Be sure to read the small print of any policy, particularly regarding the excesses you will have to carry and your obligations to protect the property. With some policies, you may need to install an dismay or close shutters at night or during long absences .
Insurance for school children
Some home policy policies will mechanically cover your indebtedness for any damage or injury your child may cause at school ; others will offer this as a offprint shroud at a nominal premium. In both cases, the insurance company will give you a security or attestation that the school will ask you for at the beginning of the school year .
While not strictly mandatary for school attendance, you will need this for any activities outside the official course of study including field trips of any kind a well as extracurricular sports .
Motor vehicle insurance
You must insure all centrifugal vehicles in France for collision indebtedness, tied if they are not in use unless all four wheels are removed. Policies are either third-party ( tiers collision ), third-party fuel and larceny, or comprehensive examination ( tous risques ) .
Whenever you drive your vehicle, you must carry a document – the attestation five hundred ’ assurance – which the indemnity company issues to prove you are insured. partially of this is a green certificat vitamin d ’ assurance testifying to the cogency of your indemnity. You must fix this to your vehicle windshield, indeed as to be distinctly visible .
Your insurance company will besides issue you with an internationally standard shape, lupus erythematosus constat amiable, to complete in the event of an accident.
Costs of cable car indemnity in France depend on factors such as vehicle measure, the extent of coverage, and driver history. No-claims deductions accrue at the rate of 5 % a year and it takes 13 years of no-fault force to obtain a full 50 % no-claims bonus .
This can result in some drivers offering to pay directly for the damage they cause, so as to avoid an addition in the cost of their policy. You should think carefully before accepting such an extend. If the damage is more expensive to repair than the measure you have received from the other party, you will have no recourse to an indemnity claim .
Those who are working in France or studying in France have to register for sociable security payments. public social security schemes in France traverse :
- sickness, accidents, and disability;
- parental leave;
- family benefits;
- old-age French pensions;
- survivor benefits
Employers normally enroll their employees in a social security scheme. however, freelance workers need to register themselves into a freelance system. More information can be found in our scout to social security in France .
Optional forms of insurance in France
There are two types of life sentence insurance in France :
- assurance vie
- assurance deces
The imprint of policy known as assurance compete translates literally as “ biography policy ”. This refers to a save program that sets digression and invests money for retirement or other long-run fiscal projects. It will besides pay in case of death before the end of the policy term. many people take this out as a complemental form of insurance to state-provided social indemnity .
assurance deces translates literally as “ death policy ”. however, this is the equivalent of what in many countries is called a biography indemnity policy. This will entirely pay a premium to your class in lawsuit of your death, linked to loss of earnings .
Assurance décès following an accident merely is identical bum ( around €20 per calendar month to cover all of the syndicate ) but, when death through illness is included, the price is well more and takes into account your old age and your existing submit of health .
If you take out a goodly home-loan with a french depository financial institution, you may be required to take out life policy. This is intended to protect both the savings bank and your family by paying off the outstanding mortgage in encase of you or your spouse ’ mho death .
Third-party liability insurance
Third-party liability policy is a compulsory depart of home and fomite insurance. It is besides possible to have distinguish indebtedness policy that extends to damage or injury to others caused in other circumstances. For example, if you incidentally damage person else ’ second property or if your frump bites person .
You can purchase indebtedness insurance individually from home insurance and have it overlay incidents that occur in the home. The price of a discriminate policy is normally about €160 a class .
This optional shape of insurance is not as common in France as life insurance or liability indemnity. however, with access to legal help becoming more difficult to obtain, more people are taking out policies to cover legal expenses .
legal policy ( assurance de protection juridique ) covers the costs of legal proceedings in the event of a lawsuit or legal dispute. You can take it out individually or sometimes have it as part of home or car policy as an accessory.
Commercial insurance in France
If you intend to run a business in France, it is all-important that you get the correctly insurance covering to protect your assets and reputation. Some business insurances in France are compulsory, others optional. The independent ones are :
- Business liability insurance – also known as public liability and professional indemnity insurance (l’assurance en responsabilité civile professionnelle). Compulsory for all limited businesses. If you’re a freelancer or sole trader, you might be able to cover your business activities through your personal liability insurance, but you will need to specify your activities and probably pay extra for coverage.
- Premises, equipment and vehicle insurance – you can take these out as separate insurances or combine them in a multi-risk policy (assurance multi risque et perte d’exploitation). None of these are compulsory for most businesses but highly recommended to protect against theft or damage caused by fire, water, storms, etc.
- Business interruption insurance (assurance perte d’exploitation) – this protects against loss of income, including employee salaries, in the event of the business being unable to operate for a period. Some insurers offer packages where you can combine this with premises, equipment and vehicle insurance.
- Assurance decennale – this is a compulsory insurance for trades such as builder, plumber, and electrician. It covers your work for a period of 10 years against defects affecting the quality.
- Assurland – one of the most well-known insurance comparison sites in France, where you can compare insurance for health, home, vehicle, and more.
- Le Lynx – another popular site where you can compare insurances as well as energy providers.
- Autorite de Controle Prudentiel et de Resolution (ACPR) – insurance regulatory authority in France
- Federation Francais de l’Assurance (FFA) – insurance federation that represents over 250 French insurance companies