In France, customary multi-risk house insurance coverage doesn’t essentially cowl the total price of extra invaluable objects (objets de valeur) that you might have in the home.
This primarily refers to costly jewelry, work, or artworks however it might additionally embrace treasured metals, high-value musical devices, house cinemas or different high-value tech gadgets, and so forth.
There isn’t any standardised definition of what a invaluable object is and so it’s going to fluctuate relying in your insurance coverage coverage.
When you’ve got an costly merchandise in your property, there are three choices to make sure that it’s coated in case of theft, however extra generally unexpected accidents equivalent to flooding, fires or storm harm.
Learn extra: What to do (and to not do) after a house housebreaking in France
Table of Contents
Improve your insurance coverage protection
When taking out a house insurance coverage coverage, the corporate will ask you to provide an estimation as to the entire price of the objects within the property. Every insurer has its personal cap on the utmost quantity you’ll be able to declare. This may be anyplace from between €60,000 to €250,000 and past, relying on the insurer.
The upper the determine you agree on, clearly the upper your premium will likely be – that means the quantity you pay to your insurer month-to-month or yearly.
The businesses might also have a cap on how a lot they may cowl particular person objects for. For instance, they could solely cowl as much as €10,000 on any particular merchandise, and so when you have a bit of vintage furnishings price €15,000, you’ll solely get a most of €10,000 in case of theft or harm.
It can be crucial then to precisely consider the price of the objects in your house when agreeing on an insurance coverage coverage.
When you simply have one moderately costly merchandise in your house, for instance a jewelry assortment price round €10,000, you’ll be able to declare it to your insurer and see if the entire price of it is going to be coated by the usual settlement.
It’s price negotiating these parts of your insurance coverage contract when taking out a coverage.
You can too modify any present insurance coverage contract at any time if you happen to suppose that you’ve undervalued the objects in your house, or when you have purchased new objects which have considerably elevated the general price of the objects in your house.
Take out high-end house insurance coverage
When you’ve got one very costly merchandise in your house or you’ve gotten a number of costly items, it could be price taking out high-end house insurance coverage.
Insurance coverage corporations equivalent to Axa and Generali provide high-end (haut de gamme) insurance policies that provide greater total protection or greater ensures on particular objects.
Insure particular objects
An alternative choice is to insure particular objects.
Corporations equivalent to Hiscox permit you to insure particular objects with a really excessive worth. This insurance coverage will sit alongside your customary house insurance coverage.
One benefit is that it covers accidents to the objects outdoors of normal occasions that may result in a declare on house insurance coverage,
For instance, in case your costly portray is by accident knocked off the wall, particular insurance coverage for the portray will almost definitely cowl any damages, whereas customary house insurance coverage is not going to.
Proving the existence of an merchandise and valuing it
Whether or not you might be declaring invaluable objects to an ordinary insurer or to a high-end insurer, you have to to supply an correct analysis of the merchandise.
Additionally, you will should show to your insurer that the merchandise you want to be coated does certainly exist.
The simplest method is with a receipt that each describes the merchandise and provides its value.
You can too doubtlessly use customs declarations when you have imported the merchandise from overseas.
When you don’t have both of those, you can even show the merchandise’s existence by way of a transparent {photograph} that’s dated.
Proving you’ve gotten the merchandise is simply step one although. Additionally, you will have to show its worth.
Once more, the best method is by having a receipt. When you don’t have one, then there are different options.
One is to discover a matching or comparable merchandise being bought on-line.
When you’ve got a uncommon piece of jewelry, artwork or furnishings that’s not being bought elsewhere and also you don’t have a receipt for it, then you have to to get it valued.
For jewelry, you’ll be able to take it to a jewellers (bijoutiers joailliers) close to you providing analysis companies.
For different artwork items or antiques, you’ll be able to contact an unbiased professional. For instance, there may be the Compagnie nationale des consultants or the Syndicat français des consultants professionnels en œuvres d’artwork et objets de assortment
Different parts to think about
Some insurance coverage insurance policies require you to not be away from your private home for longer than a sure acknowledged interval. This may be 90 days, one month and even 48 hours.
It’s price checking this ingredient of your insurance coverage coverage, particularly for homeowners of second houses.
Learn extra: Dwelling insurance coverage deemed invalid regardless of France’s journey ban
One other factor to think about is that relating to invaluable objects, the insurance coverage firm might require you to maintain the merchandise in a secure (whether it is jewelry), or might require your private home to have a sure stage of safety (alarms, surveillance cameras, and so forth.).
It’s price checking this in your contract.
Learn extra: French regulation: Courtroom case highlights guidelines for insurance coverage and shutters
Associated articles
France’s ‘disaster naturelle’ insurance coverage system: the right way to declare
Storm harm in France: Learn how to handle an insurance coverage declare on your house