What is multi-risk home insurance?

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What is multi-risk home insurance?

First of all, it is important to know that home insurance is mandatory for tenants, including tenants of furnished rental housing and co-owners (this remains optional for owners). 

Home insurance helps protect the family patrimony. This type of contract mainly covers damage to property, the civil liability of the insured and the civil liability "private life".
The people who may be affected by multi-risk home insurance are:
  • Tenants
  • Non-occupying owners (owners who do not live in the dwelling, when the property is rented) 
  • Owner-occupiers

However, there is no law requiring you to subscribe to a multi-risk insurance contract.

What does property and casualty insurance guarantee, what does it cover?      

Multi-risk home insurance covers damage that could affect the insured's property: fire, water damage, pipe freezes, natural disasters and storms, burglary and vandalism, glass breakage. 

Note that in principle, cash, securities and securities, professional property and vehicles are not guaranteed by the HRM contract. Valuables are guaranteed according to the contracts.

The most common events recorded in contracts are: 
  • Guarantees of natural disasters : storm, storm, flood, earthquake, hail, weight of snow, etc. In order to be compensated, the event must have been the subject of a declaration by interministerial order to result in compensation;
  • Guarantees in the event of vandalism : Attacks, acts of terrorism, etc. If a theft is accompanied by an act of vandalism, the theft guarantee may be taken into account, according to what is indicated in the contract. 
  • Guarantees during acts of theft: compensation concerns the disappearance and destruction of property during theft. All destruction resulting from a burglary is also covered.
  •  The guarantee that concerns water damage and frost : rupture of ducts, infiltration, overflow of pipes, etc. This can also take into account and extend into neighborhood housing. 
  • The fire guarantee covers damage caused by fire and smoke, damage caused accidentally by firefighters or other organization during the intervention (only if the fire is recognized as accidental). This also opens up explosions and related risks.
  • The glass breakage guarantee: this applies to windows, glass, velux, glass and furniture glass and railings.
  • Civil liability, legal protection, school insurance
  • Guarantees covering the exteriors: swimming pool, garden hut, equipment, veranda, etc.

Multi-risk home insurance can also cover transport to the hospital, coverage of certain expenses (in the event of an accident, you may need domestic help covered by the insurance), childcare, pet care, etc.

How to take out a home insurance policy?

You can contact one of the following organizations:
  • an insurance company
  • a general insurance agent
  • a broker
  • a bank.
Do not hesitate to contact our partner directly to find out the rates set and to learn more about multi-risk home insurance
The information that will have to be communicated to them:
  • The property and its characteristics: the type of dwelling (house or apartment), main or secondary  residence
  • Your profile: single, single, children, married, tenant or non-occupying owner.
  • Furniture       

Documents must indicate:
  • Warranty limits
  • The conditions for triggering the guarantee for liability contracts
  • The applicable law and the bodies to be seized in the event of a dispute.

Does the subtenant have to take out home insurance?

The subtenant is strongly advised to take out multi-risk home insurance
The subtenant's insurance covers:
  • Rental risks resulting from fire, water damage or explosion;
  • The recourse of the neighbor and third parties if the damage extends to other dwellings.
The subtenant's civil liability is also covered by his multi-risk home insurance, which is not the case when it is the main tenant who takes out insurance with abandonment of recourse.
When do you have to pay your home insurance premium?

You can pay your membership fee on the due dates, but there are several options available to you:
  • payment in one go at maturity (anniversary date of the contract)
  • payment in instalments during the year if your contract provides for a contribution split (monthly, quarterly or semi-annually). 
You have 10 days from the due date indicated in your contract to pay your insurance premium.
If this period is exceeded, your insurer will send you a letter of formal notice in AR.

30 days after the expiry of this period, your home insurance contract will be suspended for non-payment of your contribution.
Ce qu’il faut retenir :
  • Home insurance is mandatory but this is not the case for comprehensive insurance
  • It concerns all profiles including subtenants 
  • This covers a lot of events such as: natural disasters, theft, vandalism, water damage, frost, flood, fire, explosion, glass breakage, terrorist acts, attacks, storm, hail, etc.
  • To take out this type of insurance, you can contact a bank, a broker, insurance companies and a general insurance agent.

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