In Paris, 5.000 homes insured via the City's home insurance

Launched in January 2023 in partnership with the VYV mutual group (MGEN, MNT, Harmonie Mutuelle, etc.), this insurance offers a single price in all districts, depending on the number of rooms, whether in the private or social sector.

The objective stated by the town hall is both to fight against "bad insurance" or the absence of insurance, a reason for termination of lease and eviction which affects 1,7 million households in France, and to improve the purchasing power of Parisian households.

According to Benjamin Haddad, vice-president of VYV Conseil, the prices offered are "on average 20% to 30% lower than Parisian market prices".

“In total, more than 4.000 policyholders have subscribed in 2023,” he declared during a press point, adding that “other cities were wondering” about the launch of such a system.

“We are now at 5.000, with 1.000 contracts signed since the start of 2024,” said Jacques Baudrier, PCF deputy for Housing, recalling in passing that the capital has 700.000 tenants in the social housing stock.

“As with rent control, these measures are very protective but suffer from not being well enough known,” recognized Barbara Gomes, delegated advisor in charge of tenant protection (PCF).

In addition to living in Paris, two conditions are necessary to be able to subscribe: being a tenant of your main residence and having a reference tax income of less than 33.860 gross for a single person, and 50.605 euros for two people.

To attract more households, the ceilings were increased by around 39%.

Asked about the economic model of the system, which also offers coverage in the event of theft, Benjamin Haddad admitted that it was currently operating "at a loss" but the VYV group, a non-profit organization of private sector, is is committed to a “zero margin” and hopes to recoup its costs within “three to four years”.

To do this, he is counting on “5.000 to 7.000 new annual subscriptions”.

“It is a system of general interest for the population. We want to show that Paris is a city of tenants and which protects its tenants,” underlined Barbara Gomes.