INFO JDD. Home insurance at a knockdown price this fall in Paris

11:00 a.m., June 26, 2022

From 250,000 to 400,000 Parisians would be affected. At the initiative of the City of Paris, a “cheap multi-risk home insurance” will be set up in the fall for low-income households and the small middle class, as revealed by the JDD
in October. A call for expressions of interest (AMI) has since been launched by Ian Brossat, the PCF deputy in charge of housing. Several major insurance companies responded. In the end, the mutualist group VYV and the insurer Wakam were jointly selected*. Candidates had to meet three criteria: price; guarantees and coverage amounts; the quality of customer service.

“The main objective of this new device is to save money for tenants of social housing and private housing who have purchasing power problems”, says Ian Brossat. Eligible Parisians must have an income of less than 2,000 euros net per month for a single person, 3,300 euros for a couple, 4,300 for a family with two children. For a studio, the price of this new insurance will amount to 130 euros per year (10.85 euros per month), against 180 euros on average (according to the site Les Furets). For a three-room apartment, count 194 euros per year (16.20 euros per month), against 292 euros on average.

Simplified procedures

“Some of the tenants are poorly insured, or even not insured at all”, laments the deputy. From now on, they will be able to benefit from a single rate in Paris, a single deductible of 120 euros, or even a reimbursement at the value of new, in the event of water damage, fire or burglary. Other advantages: no underwriting costs, no exclusion criteria linked to previous claims, for example. In addition, the procedures must be simplified and the documents written in “clear language”. A digital safe will be available. Assistance will remain reachable by telephone 7 days a week and 24 hours a day.

* VYV, the leading mutual player in health and social protection in France (MGEN, Mutual Harmony, National Territorial Mutual, etc.), claims more than 11 million policyholders. Wakam, formerly La Parisienne Assurances, is present in 32 European countries.

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