Insurance in France

Insurance in France

Insurance in France is probably one of the things that someone may simply assume as being unnecessary. As expected, when moving to France or already living there, an individuals’s basket of activities is already full. There may be little or no time to spend thinking abut the need to protect yourself against a bad luck. But, can you pose for a moment and think about what if you get sick with huge hospital bill or lose property. The story of Horatio Spafford  is an example of how it gets murky, confusing and desperate when you are forced to literally spend what you don’t have. This is where your insurance kicks in. With an insurance cover, in France, its assured that all will be fine.

Insurance is tricky as it is like buying a promise. The reason is that it helps an individual or business to start all over again in case something happens. Also, it helps people protect themselves, their families, and their assets.

Even in France’s economy, insurance plays a significant role in its development. It is because it offers security and safety to businesses as well as individuals. Also, insurance does promote economic growth, spread risks, and generate long term financial resources.

Health Insurance France

Every person living in France should get free health insurance cover irrespective of their economic situation or age. The universal coverage consists of private and public services, including specialist providers, hospitals, and doctors. It is the French health insurance contributions that offer partial public health care in the nation. The employer pays around 13%, while the employee pays 8%.

The government and the patient partially pay some contributions to the healthcare costs. The state health insurance covers from 70 to 100% of the costs, including hospital costs and doctor visits. Luckily, the long term and low-income sick patients get 100% coverage.

Apart from the public health insurance, the French residents can take private health insurance. It covers access to health specialists, private maternity, and a global network of doctors. The foreigners in France who have lived there for over 3 months can access healthcare through Protection Universelle Maladie (PUMA).

The documents needed for health care registration in France include:

  • Income evidence when making an application for CMU-C
  • Passport or valid ID
  • Marriage or birth certificate when there is  inclusion of family
  • Proof of address including French utility bill
  • French residence proof

Unemployment Insurance

Allocation d’aide au retour à l’emploi or, rather, back to work allowance is paid to the employees by unemployment insurance. It is paid after someone loses their job.

The conditions one should meet in getting unemployment benefits

  • Have the physical ability to carry out a job
  • Showing dismissal or termination of unemployment
  • Be enrolled at Pôle employ as a job seeker
  • Accept reasonable job offers
  • Have not reached the age that one gets a full pension
  • Actively job seeking
  • Have a certain amount of affiliation to the system

The unemployed individuals who are qualified for the unemployment insurance are entitled to back to work allowance (ARE) amount. In addition, it is important to note that the amount cannot be higher than 75% or less than 57% of the daily reference wage. If one works part-time, then the amount is reduced proportionally.

Car Insurance

The average amount of insuring a car in France is about €400. Vehicle insurance is mandatory for every motorist owner. Besides, this is the second most popular insurance after health, and one needs at least a third-party liability. The fine of not insuring a vehicle in the nation is about €3,750.

The third-party liability or responsabilite civile insures a vehicle against injury and damage for the third parties’ incidents that one causes. Besides, it includes the passengers in one’s car. However, this type of insurance does not cover one’s (driver’s) own cost, including the damage caused to the car. In France, there is also third party plus. It indemnifies cost to one’s car resulting from attacks, natural disasters, or even accidental damage.

In France, the factors used in determining the cost of car insurance include driver’s age, profile, vehicle value, location, driving frequency, and what one uses the vehicle for. There is also comprehensive cover that can be added to third-party insurance. It covers damage to third parties, theft, window damage, fire, and the damage to an individual’s own car that the person caused.

Home Insurance

The average home insurance cost is about 248 euros. Home insurance is mandatory for the tenants, even if the home is furnished or not as well as the co-owners. The co-owners are the people owning a lot of condominiums, and it covers third parties, neighbours, co-owners, and in some cases, the tenants.

Apart from the third-party home insurance, there is comprehensive cover. It indemnifies the contents of the house because of vandalism, theft, water, or fire. There is also tenant insurance that helps one in protecting their belongings.

Life Insurance

As opposed to nations like the Czech Republic, in France, life insurance represents an attractive and stable saving option. It provides some fiscal advantages to the holders. Assurance Vie helps in managing the financial assets as well as providing potential tax-saving benefits. Furthermore, the insurance protects individuals when there is death.

Travel Insurance

When traveling to France, most of the trips are usually crime and trouble-free. However, large cities such as Marseilles and Paris are crime hotspots. Thus, it is important to take insurance cover when traveling to France. In addition, insurance is important for the individuals traveling out of France because there are street crimes and scams in other nations.

Travel insurance is also important because, in some cases, a cancellation may be made, and through it, one may get a refund. The other things covered by the insurance includes stolen valuables, legal expenses, and even getting sick.

Pet Insurance

One does not have to be a French citizen to get pet insurance. Instead, anyone with a registered permanent address may take insurance. The insurance includes life insurance that offers one compensation that is equivalent to the value of the pet in case of death. The veterinary care insurance, on the other hand, gives one peace of mind in case of pet’s injury or illness and should visit a vet.

Legal Insurance

The legal insurance is worth considering as a French resident. The policy is assurance protection juridique. Insurance generally helps an individual to get the legal expertise needed, including costs reimbursement.

Self-employed Insurance

France’s Social Security system has a self-employed scheme for the self-employed individual who are not practising agriculture. After registering at  Micro-Entrepreneur, these people automatically get health cover.

Popular insurance companies in France

  • Crédit Agricole Assurances
  • CNP Assurance
  • ACM Strasbourg
  • Abnamro
  • Aviva France