“I'm about to buy an apartment and, talking to the owner, I realize that he benefits from a comprehensive insurance policy that is much more economical than the quote presented by my own insurer. However, we are both single and around the same age. Is it possible to request the transfer of his multi-risk contract to my benefit if it is cheaper once the property is purchased? Asks Pierre, a reader from Paris.
Alexis Merkling, Deputy Director Property and Liability Insurance at the French Insurance Federation (FFA), replied.
“This question calls for three important remarks. We must first be aware that the level of guarantees granted and the conditions of their implementation can have a strong impact on the cost of the contract. It is therefore essential to check whether the contract signed by the predecessor is suitable for his personal situation. It may be useful to request a quote from several insurers. If necessary, do not hesitate to be explained the advantages of each contract to make your choice. "
“In all cases, you should also know that the change of owner must be notified to the insurer, who will recalculate the premium according to the situation of the new owner. The subscription of a new contract also makes it possible to be certain that all the characteristics of the property have been correctly declared. Please note: a false declaration - even unintentional - would have repercussions on the compensation paid in the event of a claim.
“Finally, note that in the event of the death of the insured, the insurance automatically continues for the benefit of the heir. This provision protects the heir in the event, for example, of a fire occurring before he has been able to make the necessary adjustments to his situation. "
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