Definition of insurance policy
The insurance policy is none other than the exact term that designates the insurance contract. It thus corresponds to the material proof of the agreement between the insurer and the insured. The insurance policy is the document that both parties must sign for the contract to take effect. This document includes:
- The guarantees to which the insured wishes to subscribe ;
- The commitments of the insurance company towards the insured;
- The regulations of the contract that the insured must respect ;
- Any insurance deductible;
- The deadlines are to be observed in the event of termination of the contract.
Each French person is subject to at least one insurance policy due to the legal obligation to subscribe to certain compulsory insurance such as:
- compulsory health insurance
- car insurance
- civil liability or even certain professional insurance.
What is the medical insurance policy?
The medical insurance policy is international health insurance. This optional insurance allows you to be covered anywhere in the world when the insured person travels outside French territory and particularly outside the European Union. The medical insurance policy has many guarantees, such as the coverage of health and hospitalization costs.
Being covered by a medical insurance policy can prove to be interesting for expatriates, people on long stays, and dual nationals. However, it is important not to confuse the medical insurance policy with the Assurance Maladie du Régime Obligatoire, which is responsible for covering and guaranteeing access to healthcare in France, and the Complementary Health which is also optional insurance. , and which complements the coverage of health insurance which is generally not total.
Civil liability insurance policy
Civil Liability corresponds to the liability for damage caused unintentionally to others. The French are obliged to take out this insurance policy which makes it possible to compensate the victim or victims following a disaster thanks to the assumption of responsibility by the insurance for the repair of bodily, material, and immaterial damage. Almost all home and auto insurance contracts include this coverage. Otherwise, an insured can take out a private liability insurance policy. Damage is said to be responsible when it is caused by :
- The fault of the insured, through imprudence or negligence;
- The insured’s children living under his roof;
- The ascendants of the insured living under his roof;
- Any persons employed by the insured;
- His animals or those he keeps;
- The objects he owns, whether borrowed or rented;
- The home he owns.
However, the civil liability insurance policy does not cover:
- acts voluntarily committed to others
- when the dog of the insured is qualified as dangerous
- to cover possible criminal sanctions.
Finally, to be compensated, the victim must be able to prove the damage using evidence or supporting documents.
What is an auto insurance policy?
Having a car insurance policy is compulsory in France. The car insurance policy summarizes the guarantees and levels of cover in the event of a claim by the insured but also indicates the amount of the deductibles which will be applied in the event of damage covered by your contracts such as glass breaking, collision, or fire again.
The auto insurance policy depends on the type of coverage chosen by the insured:
- If it is a third-party car insurance contract, the insured is then only covered for damage inflicted on a third party
- If it is an intermediate car insurance contract, the insured is covered for damage inflicted on third parties and benefits from extended coverage on the guarantees of his choice.
- If it is an all-risk car insurance contract, the insured then benefits from coverage for all risks, as well as a “damage all accidents DTA” guarantee.
However, the car insurance policy does not have to be taken out by the holder of the vehicle registration document but can be taken out by the main driver of the vehicle.
home insurance policy
The home insurance policy is provided by the insurer when the contract is signed. This document must include:
- the date
- the identity of the insured
- claims covered by the insurance company.
In addition, warranty exclusions must be written. Otherwise, the nullity of the contract can be applied. The home insurance policy contains, in most contracts, the following guarantees:
- Private life civil liability cover;
- The fire guarantee ;
- Water damage guarantee;
- Natural disaster or technology cover;
- Theft or attempted theft cover.
What is the purpose of the insurance policy number?
Each insurance policy has a unique and unique number. This code is given when the contract takes effect and thus proves that an individual is indeed insured. In the case where an insured has several insurance policies with the same insurance company, the insurance policy number allows the insurer to quickly identify the contract.
The insurance policy number may be requested in the following situations:
- In the insured’s car in the event of an inspection. The insured must always have his insurance certificate and his green card. If he is unable to provide these documents, the insured is liable to a fine of 3,750 euros as well as the confiscation of his vehicle;
- By handing it over to its owner if the insured is a tenant. The insured must provide a certificate of insurance to his owner to prove to him that he is well insured, otherwise, he could not rent his property;
- At school or during a school outing of the insured’s children. Each school year, the school asks for a certificate of insurance specific to each child. In addition, in the event of an outing outside the school grounds, additional insurance may be requested from the insured.
Where can I find my insurance policy number?
The insurance policy number can be found:
- On the initial policy of the insured ;
- On the insurance certificate of the insured. The insured will receive his insurance certificate by post when his contract takes effect or will have to download it online from his customer area;
- On the notice of expiry, which the insured receives each year from his insurance company, between 3 months and 15 days before the anniversary date of the contract;
- On the insured’s green card, if it is car insurance. The green card contains the insurance policy number but also information related to the insured’s vehicle;
- On all documents or correspondence with the insurer. When the insured requests the insurance company, and the insurer responds to it or simply sends information, the letter will always be accompanied by the insurance policy number at the top of the mail.
However, if the insured cannot find his insurance policy number, he can contact his insurer to request it.
The different types of insurance policy
Two different types of insurance policies exist from a legal point of view :
- Personal insurance covers the person himself. This category of insurance policy includes life, death, and health insurance contracts. The insured is then compensated in the form of a lump sum determined at the time of the expiry of the insurance contract. This is called the flat rate principle;
- Damage insurance, allows the insured to receive compensation following a claim (provided that it is accidental and involuntary). This category of insurance policy concerns personal insurance contracts such as complementary health insurance, third party insurance such as civil liability, and also property insurance such as automobile and home insurance. The insured is then compensated following the consequences of a claim, and the amount of compensation is calculated by the insurer according to the situation. This is called the compensatory principle.
However, two different types of insurance policy also exist from a technical point of view, which correspond to two different management modes:
- Distribution insurance. This category of insurance policy allows the insurance premiums paid by the insured to be distributed among all the victims of damage, whether material, immaterial or bodily, and, immediately. Here, the management method is reviewed each year.
- Capitalization insurance. This category of insurance policy allows the insurance company to invest part of the premiums collected to make them grow to subsequently reinvest the income obtained, to increase the final amount, and compensate the insured when the time comes. . Here, the model of management is long-term.
This technical management method defines two types of insurance:
- Life insurance, which includes death, savings, retirement, disability, or incapacity insurance
- Fire Accident Miscellaneous Risks insurance which includes home, car, motorcycle, and telephone insurance.