Colocation : what happens to the home insurance ?

Even when you live in a shared flat, home insurance is mandatory. This plan covers the damages caused by water damage, a fire, an explosion or even a terrorist attack. Each roommate must sign a contract in his name or is there a single contract in the name of all the co-tenants ?

What the law says

From a legal perspective, the roommates are not obligated to buy everyone a home insurance colocation. It is enough for a roommate or, at least, insured for rental risks and for putting in the rule. The owner may not, therefore, require a certificate of insurance with all its tenants if one of them already has. However, if none of them does, it may terminate the lease.

From a practical point of view and economic, nevertheless, it would be more prudent that each roommate ensures to protect themselves from a disaster within the housing.

The subscription

Roommates can, subscribe to :

  • a contract of insurance in common : the name of each person will be stated on the contract and in the event of departure of one of them, a change must be made
  • a contract of insurance individual : to facilitate procedures in the event of a disaster, it would be better that all the housemates are addressed with the same insurance company

Moreover, the owner can purchase the insurance itself as provided by the act of 6 July 1989. In this context, each roommate must indicate his / her agreement in the lease contract, since the insurance premium will then be added to the monthly rent.

In the event of a disaster

When a disaster occurs, all the co-tenants are legally responsible. This implies that each of them must contribute to the cost of repair. The amount may vary depending on the participation of everyone in the rent. In the case where :

  • they are all insured, will their insurance pay the costs
  • one of them or some of them only are insured, the insurance of the latter to pay the amount that is their responsibility while the others will have to pay out of their pocket

The blankets

Home insurance colocation covers all damage to the leased property and, during the duration of the tenancy. Are excluded from its coverage :

  • the personal property of each co-tenant : to remedy this, it is possible to take the guaranteed damage to property

the damage caused to third parties : the liability insurance can remedy this