6 tips to reduce the price of your home insurance
Tip n°1: play on the guarantees. The fewer optional home insurance coverages you purchase, the lower your premium will be. Be careful, however, that your contract correctly covers your needs. Sometimes it makes more sense to pay a little more.
Tip 2: Opt for home insurance with a deductible. This will reduce the amount of your annual premium.
Tip n°3 uses an insurance comparator. This will allow you to find the best home insurance at the best value for money without sacrificing your guarantees. In addition, if you go through an insurance broker such as Reassure Me, their services will be free.
Tip #4:negotiate with his home insurer to lower the price. Negotiation is possible in all situations and it depends only on the solidity of your arguments and the will of your adviser to make it succeed.
Tip n°5: play the competition. You can “threaten” your current insurance company to leave and go elsewhere. New competitive contracts appear very regularly on the home insurance market. This can be used as an argument.
Tip 6: Take out your home insurance online. There are often more contracts and promotional offers online than in the agency. As well enjoy!
What is the average price of home insurance by region?
RegionsAnnual prices for a houseAnnual prices for an apartment
Auvergne-Rhône-Alpes 365 € 205 €
Burgundy-Franche-Comte 365 € 185 €
Brittany 320 € 160 €
Centre-Loire Valley 340 € 175 €
Corsica 520 € 370 €
Great East 385 € 190 €
Hauts-de-France 365 € 190 €
Ile-de-France 445 € 240 €
Normandy 330 € 180 €
New Aquitaine 350 € 185 €
Occitania 365 € 195 €
Pays de la Loire 330 € 165 €
Provence-Alpes-Côte d’Azur 465 € 240 €
The table above gives you an overview of the average price of home insurance depending on the region where you live and your accommodation. However, these tranches are indicative, because the price of home insurance varies according to many criteria: region of course, but also the surface area of the accommodation, its age, any outbuildings, the specific guarantees you request (precious objects for example), whether it is in a flood zone or not, etc.
How to calculate the price of home insurance?
The price of home insurance depends on many criteria:
- The area of your home and the value of your movable property: area of the property to be insured, number of living rooms, any annexes such as a veranda or an attic, for example, guarantees to which you adhere… All this weighs in the final cost of your home insurance premium.
- Your resident profile: owner-occupier, non-occupant owner, tenant of furnished or unfurnished accommodation, occupant free of charge, resident of company accommodation, co-owner, etc. The number of claims you have faced in the past also constitutes important data, insofar as it enables insurance companies in particular to estimate the risk of negligence.
- The type of accommodation you occupy: whether your apartment is on the ground floor or the top floor. The year of construction of the dwelling will also be important for the insurer. Similarly, the calculation of your premium will be different if you need home insurance for a second home, for the main dwelling, or a condominium. Where you live will also affect the cost. Home insurance in Corsica, for example, will be more expensive than for an equivalent property located on the mainland.
- The ICC FFB index: insurers index the amount of the premium to the construction cost index of the French Building Federation (ICC FFB). This indicator makes it possible to estimate the overall value of a property from the average price of a building in Paris. The whole calculation of your home insurance premium lies in determining the estimated risk.
What is the price of the termination of a housing contract?
Thanks to the Hamon law, you can now cancel your home insurance at any time once the 1st year of subscription has passed, without penalty fees or notice period. This provision will allow you to check that your home insurance contract remains the most competitive and to see if you cannot find cheaper elsewhere. If you do nothing, your contract will be automatically renewed each year, although you can terminate it at any time.
The formalities of change are quite light, insofar as you simply have to notify your current insurer of your wish to terminate by registered letter with acknowledgment of receipt. Your recently terminated insurer will have to pay you the unused part of the premium that you could have paid in advance.
