- A great bargain with large terrace
- This delightful property is close to the
Negresco hotel, the beaches and the sea in a charming Nicois style
building which has just been recently painted. Click on the photo for more information.
Home and Contents Insurance
When you purchase a property in France you have an obligation to ensure that it is fully insured for your intended use. It is not a legal requirement to have this in place before signing for the property but it is highly recommended, remember as the owner you are liable for the property as soon as you have the keys.
If you are buying an apartment you will normally pay charges to the syndic every month or quarter, this will include some level of insurance, though it is very important that you check just how much insurance this provides you with. If you are buying a house or villa it will almost certainly be down to you to insure the entire property yourself.
We are able to assist with quotes if you would like to investigate this further. There are several features available to you:
Public Liability Insurance: If you intend to rent out the property you should consider having public liability insurance in case someone is injured while staying there and successfully sues you. Many properties in France have communal insurance as part of the building charges though it is worth checking what this covers as it is not likely to cover problems inside your apartment. Our recommended insurance company automatically includes £5million (€7.5million) of public liability with their insurance.
Liability cover linked to contents or buildings? If you take out contents insurance only, most insurers will only cover public liability linked to the contents... someone falling off a sofa, for example. The public liability will not be linked to the building so if someone injures themselves by tripping over your doorstep then you may not be protected against a legitimate claim. This means that even if you have rebuild insurance through your syndic you still may need to take additional buildings insurance so that the liability insurance is linked to the building as well as the contents.
Buildings Insurance: Again, most buildings have a communal insurance in case the property burns down or is damaged, this should cover the rebuild of the property but does it cover fixtures and fittings, bathrooms, kitchens and painting the walls or do they just pay for the rebuild of the 'shell' of your property? This is definitely worth checking. The rebuild cost is rarely the same as the purchase price and can be calculated by the insurance company.
Accidental damage by tenants: This is an add on feature to the normal contents insurance which insures against the accidental damage of property by ANYONE staying at the apartment. Normally there is a set excess for this, say €350, so it is wise to take a damage deposit from any tenants that covers this excess and then you can claim any additional amount in damages if necessary.
Excess: like all other insurance, the bigger the excess (the part you pay before the insurance company pays out) the cheaper the cover. You can receive discounts for accepting a larger excess so if you are renting your property a lot then the deposit you take from your tenants could cover the larger excess, making the insurance cheaper for you.
For information about the cover provided by your syndic or commune please contact your agent or notaire.
For more information about this or to obtain a quote please contact Peter Brooke or click here.