5% rise in home insurance but wide variations across france

HIGHEST AVERAGE COST IS IN THE SOUTH-WEST DUE TO WEATHER PHENOMENA The cost of home insurance is on the up, although there are marked differences across France in the overall price of cover.

Nationally, rates have increased by 5% compared to last year but in the south-west, rates are more expensive than their northern counterparts, reports price comparison site Lelynx.fr. For

example, in Brittany, the cheapest region, house insurance costs on average €124 per year, but in Nouvelle-Aquitaine the average is more than €30 extra at €157 – the most expensive in

France. NUMEROUS REASONS CITED FOR RISE Increases are caused by a number of factors, the most important of which is whether an area is deemed ‘insecure’ with a large number of burglaries and

urban violence. Inflation has also been cited as another problem with the increased cost of any potential repairs being passed onto policy-holders. The price of metal frameworks

(_charpentes métalliques_) has increased by around 20% in a year and materials for windows by more than 10%. Fuel and labour costs have also increased, further driving up prices across the

board for insurance companies. However, the location of a property is a key factor. The south-west has a number of properties in drought hotspot zones with many homes there built on clay

soil that SUFFER FROM ‘SHRINKAGE’ DURING SUMMER MONTHS, which can cause structural damage. The phenomena of the soil expanding and shrinking due to the drought conditions causes structural

damage to properties, both to their underground foundations and to walls, where deep cracks can appear. Insurance claims for such damage are not paid out until a commune is DECLARED A

‘NATURAL DISASTER’ ZONE after a specific weather event in the _Journal Officiel _but the possibility of mass payouts is driving prices up. Insurance costs are also higher in areas where

weather phenomena such as strong storms and landslides are more frequent, or for houses close to the sea. In 2022 insurance companies paid out around €10 billion in weather-related damage

payouts. READ MORE: WHY ARE HOME AND CAR INSURANCE PREMIUMS SET TO RISE IN FRANCE?