Since the beginning of the coronavirus (COVID-19) health crisis, according to the French Insurance Federation (FFA), more than 400 million euros have been pledged by insurance companies to the solidarity fund in order to help very small businesses and people who are self-employed. In 2019, French insurers also had 2.6 billion euros in assets under management, the majority of which were invested in corporate assets. Insurers additionally hold 17 percent of the French government's debt, making them the leading domestic investors.
While home insurance in France remains optional for owners, it is mandatory for tenants who move into an apartment. The average value of premiums has increased steadily from 2014, reaching 255 euros in 2019. The insurance's price depends on the dimension of the apartment or house and on the region in which the apartment is located.
Multi-risk insurance cover and claims
French law requires taking out at least an insurance contract covering rental risks. Usually this is called the multi-risk home (MRH) insurance cover and it is offered by all insurers. It protects homes from damage caused by fire, water, weather disruptions and even theft and burglaries. In 2019, the highest number of claims were linked to water damage. Notwithstanding, fire accidents and damage resulted in the highest claims for French people.
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