In line with the proactive policy in favor of affordable housing of the City of Paris, a collaboration with an insurer will make it possible to offer home insurance to Parisian tenants with modest incomes and from the middle class, private housing and social housing.
In a context marked by the economic and social fragility of certain Parisian tenants, reinforced by the impact of the health crisis, the increase in energy prices and the Ukrainian crisis, the City of Paris wished to continue its approach supporting purchasing power and limiting housing-related expenses by offering tenants, in collaboration with an insurer, access to quality Parisian home insurance at an appropriate price.
In addition to the objective of improving purchasing power, the desire of the City of Paris is to allow as many people as possible to have access to home insurance and thus stem the consequences that this can have for people with -insured or uninsured (lack of insurance is reason for termination of lease and eviction).
An innovative approach
To make this approach a reality, the City of Paris has widely published and distributed a Parisian call for expressions of interest (publication from February 2 to February 25) presenting its expectations in order to allow insurers and mutual insurance companies to make a home insurance proposal.
12 organizations declared themselves interested, 9 submitted an offer of collaboration and, after hearing several of them, at the end of last May a winner was definitively selected. It will be possible to take out this insurance in the fall of 2022.
As part of the collaboration proposed to insurers, the expectations of the City of Paris were to retain Parisian home insurance offering:
A moderate price that responds to the situations of Parisian tenants (resources, type of accommodation rented)
Multi-risk guarantees adapted to the situation in order to avoid “over-insurance”
A quality customer service, at the time of subscription as well as at the time of claims, easy to access, with simple procedures, understandable and fast
An ethical commitment not to multiply commercial procedures aimed at entering into other contracts.
The City of Paris has been supported in this process by the firm Verspieren, an insurance broker who has been supporting our community for many years in the context of the insurance it must take out.
The winner of the call for expressions of interest is: the VYV Conseil and WAKAM consortium who have joined forces to meet the expectations of the City of Paris
How does grouping work?
Wakam is the insurer, risk bearer of the home insurance range, and VYV Conseil is in charge of product distribution and all customer service.
The Arcade VYV group is the 4th social landlord in France (nearly 180,000 housing units).
>> Near 11 million people protected, 69,000 corporate clients in health and provident insurance, more than 26,000 local authorities and 11 ministries and public establishments.
A insurer who designs in white label for its distribution partners and for their customers tailor-made insurance solutions, through a technological platform (“Play & Plug”) (principle of “B2B2C”).
>> Present in 32 European countries
>> In 2021, Wakam is 9th in the world ranking “Insurtech100 by Sønr”
The main advantages of Parisian home insurance
>>> INSURED : no exclusion criteria as is sometimes the case with other insurers (for example linked to the number of previous claims)
>>> VARIED, QUICK AND SIMPLIFIED SUBSCRIPTION METHODS: DIGITALLY, IN AGENCY OR BY PHONE
No subscription fees (no application fees, receipt fees, etc.)
A single price per type of accommodation
No claim rate per borough applied in the calculation of the tariff
>>> A UNIQUE FRANCHISE (the remainder to be paid in the event of a claim) At 120€
>>> A REIMBURSEMENT AT NEW VALUE FOR FURNITURE LESS THAN 5 YEARS, FOR MULTIMEDIA GOODS LESS THAN 2 YEARS
>>> WAYS TO MAKE YOUR LIFE EASIER
Cover for the termination of the old insurance;
The automatic transmission of the insurance certificate to the owner/lessor at the request of the tenant;
Monthly payment free of charge;
In the event of an emergency (example: following a disaster rendering the accommodation uninhabitable, water leak, door slammed, key broken in the lock), assistance can be reached by telephone 7 days a week, 24 hours a day and on public holidays;
Contractual documents written in plain language to make it easier for policyholders to understand the product;
A possibility of a digital safe to allow storing invoices and other documents favoring the speed of processing of a claim management request.
>>> AN ETHICAL COMMITMENT: not to offer other complementary insurance products in the 6 months following the contracting of the Parisian home insurance, unless an explicit request comes from the customer.
Who will be affected by Parisian home insurance?
Tenants and future tenants (including shared accommodation):
Whose accommodation is in Paris
In the private or social park
Whose reference tax income (mention on the tax notice) respects the ceilings below
|1 – A single person||
|2 – Two people||
|3 – Three people||
|4 – Four people||
|5 – Five people||
|6 – Six people||
1 – A single person
2 – Two people
3 – Three people
4 – Four people
5 – Five people
6 – Six people
- + €8,486
These limits will be updated each year.
When will Paris home insurance be available?
The Parisian home insurance offered by VYV Conseil and WAKAM will be launched in the fall of 2022.