Real estate.  Homes and apartments: How much does home insurance cost on average?

Real estate. Homes and apartments: How much does home insurance cost on average?

In the context of inflation, international conflicts or even increases in claims related to climate change, home insurance rates could rise globally by up to 8% in 2023, according to a strategic advisory firm Facts and Figures.

The cost of home insurance varies according to many criteria: the nature and characteristics of the housing, the profile of the insured, the value of the furniture and the level of coverage required.

But in an equivalent situation, there are significant price differences depending on where the insured property is located. This is the conclusion of a study* conducted in nine cities by Leocare, an online insurance company.

Nice, Marseille, Paris: the highest prices for apartment insurance

With an average contribution of €21.32 per month, Nice is on the first step of the cities platform where home insurance is the most expensive for an apartment.

It is followed by Marseille (€21.23 per month), Paris (€20.36), Toulouse (€18), Bordeaux (€17.31), Lyon (€17.20), Lille (€16.61), Strasbourg (€15.90) ​​and Rennes (€13.45).

The highest home insurance rates

This time Paris ranks first in the cities where home insurance is the most expensive for a home (€48.39 per month on average). Marseille (€46.86) and Nice (€45.39) complete the podium.

In the rest of the ranking we find Toulouse (€45.26), Bordeaux (€41.95), Lille (€41.05), Strasbourg (€40.40) and Lyon (€40.26). Rennes is still the city with the lowest average prices (€29.50).

Why will home insurance increase in 2023?

According to the online insurance company Leocare, “against the backdrop of international conflicts, inflation and increasing risks of all kinds, all insurance contracts will increase in 2023.” The war in Ukraine drove up the prices of materials and spare parts, which affected repair bills.

In addition, due to climate change, fires have increased by 25% compared to 2021 and heat waves by 300%. Insurance companies also have to deal with new risks, such as hurricanes.

The frequency of burglaries also has a strong impact on insurance rates. Another factor that greatly affects home insurance premiums: taxes.

Although the contributions are exempt from VAT, the latter includes a tax paid to the state by insurers, Leocare notes. This is particularly the case for inherent warranties for fire, legal protection, or even civil liability coverage. »

* Winners of 540 insurance offers between November 10 and December 6, 2022, with an area of ​​​​60 m2 for apartments and 100 m2 For homes plus a declared moving capital of €6,000 to €75,000. The selected formulas are A prefix meaning environment” And “Excellent.

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