The City of Paris launches home insurance

The City of Paris is introducing home insurance for low-income city residents in partnership with a unit of VYV Group and Wakam.

The new coverage features rates based on the number of rooms regardless of neighborhood, and the conditions to obtain coverage include living in Paris and earning under 2,000 euros per month.

Compared to regular insurance, policyholders may be able to save between 50 and 250 euros per year, depending on the size of the apartment.

The City of Paris submitted an RFP last February around this initiative and twelve organizations expressed interest. Nine submitted a proposal and after an evaluation, VYV was chosen. Wakam is also part of the initiative “to meet the expectations” of the City of Paris.