What home insurance to take?

For roommates, taking out home insurance is a necessity. However, before taking out this coverage, you must have a clear idea of ​​the types of home insurance contracts that can be used. This approach is essential, because there are many possibilities in terms of home insurance for people in shared accommodation. Do you want to take out a shared home insurance plan, but you don't know how to go about it? Here is a short guide including the information you will need to choose the right home insurance.

Opt for an individual subscription or coverage for each roommate

When it comes to home insurance for shared accommodation, you have the option of taking out individual coverage or choosing a contract for each of the residents of the accommodation. Each of these options has its specificities. Read also: Life as a couple: how to avoid conflicts?

Insurance taken by a single roommate

In principle, it is enough for the owner if a single roommate takes care of the entire accommodation. The latter would therefore be the only guarantor before the insurance company. However, in the event of an accident involving other roommates without home insurance for shared accommodation, serious financial consequences will systematically arise. In fact, in this case only one of the occupants has civil liability which is at least included in any insurance contract. This is a guarantee covering various damages caused to third parties and neighbors in particular. The hypothesis to consider here is therefore that according to which a roommate does not have civil liability guarantee. If the latter is responsible for an event or considerable damage, it could prove very costly for him. On the other hand, if you find yourself without coverage, your personal property would be exposed to theft and damage. In order to avoid these various pitfalls, it is strongly recommended to have an individual insurance contract or to prefer a joint subscription. Read also: Announce birth: how to announce the birth of your child?

Insurance contract for each roommate

This is a subscription where each person will have their own lease. Each of the individuals in shared accommodation will choose their own insurer. A specific contract will then be established with guarantees to be chosen taking into account your budget and your needs. You will be able to choose your preferred contract options independently of your roommates. Home insurance would thus be placed under a sign of solidarity. However, it is advisable to take out these different contracts with the same insurance structure. This will make it easier to resolve problems encountered in the event of a disaster. Note also that this type of subscription is only possible if the accommodation in question has been rented with a lease for each tenant. You will also have to take into account the fact that each roommate will be required to insure the entire living space and not just their room. Financially, this solution therefore represents a relatively significant expense. Read also: How to successfully buy a house?

Case of collective contracts and coverage taken out by the owner of the accommodation

Apart from the options presented above, it is possible to take out home insurance for shared accommodation in other forms. This will involve choosing between a collective contract or letting the homeowner's insurance act. Read also: The 5 best tips for an eco-friendly home

Subscription to collective contract with joint lease

For this type of home insurance contract for shared accommodation, only one roommate among the others will have to insure the property. The latter will be responsible for signing the contract by mentioning each of the people who share their name on the housing lease. He will then have to declare all the people in shared accommodation on the single contract offered by the home insurance. This type of subscription will only be possible if the accommodation has been rented using a single global lease. This solution is the simplest and most beneficial for each of the roommates. On the other hand, a disadvantage also presents itself. The roommate responsible for signing must guarantee the reimbursement of the shares of the roommates used for home insurance contributions. However, in the event that a disaster occurs, this subscription option will make it easy to manage accidents as well as the compensation process. Furthermore, if it happens that a roommate leaves you alone during the year, simply report it to your insurer as soon as possible. This can be by telephone, by mail or online. Subsequently, a contract amendment will be sent to you detailing the changes. However, there are insurers who automatically take into account all tenants of the accommodation. This is possible even when they have not been mentioned in the contract. This is the most advantageous option. Just pay attention to the amount of this type of insurance. It should not exceed that of the equivalent insurance taken out solely in your name. Read also: Everything you need to know about car insurance

Home insurance taken out by the owner

The owner of the accommodation also has the option of taking out the home insurance contract for shared accommodation himself. This is the simplest option, especially when roommates regularly replace each other. In this case, it is then up to the owner to manage their rental risk insurance. This method of insurance could, however, lead to an increase in the rent of up to 10%, to cover the various procedures. Also, you will have to add one twelfth of the total price of the insurance to the price of the rent. It is for this reason that it is very often recommended to use a quote for any shared home insurance. This will ensure that the shared accommodation insurance to which the owner has subscribed will not impact your budget. In summary, given the range of offers that will be offered to you, it is important with your roommates to agree on an insurance choice. Whether you opt for a joint subscription on the same contract or each separately, always be sure to favor the same insurer. Also, consider opting for the best housing insurance for shared accommodation to make the process easier. When making your choice, pay attention to certain key points. In particular, the value of the home insurance premium, basic guarantees and insurance formulas, deductibles, etc. Read also: MAF Assurances: Insurance company with unique expertise