Everything you need to know about insurance in Luxembourg
Are you moving to Luxembourg as an expat or new resident? Whether you’re looking to protect your health, your property, your belongings, or your business, it’s important to purchase insurance policies tailored to your needs and to comply with current regulations.
In this guide, we explore the key aspects of insurance in Luxembourg and what you absolutely need to know to ensure you’re properly covered.
Types of Insurance in Luxembourg
There is a wide range of insurance products available in Luxembourg. These cover various aspects of daily life and residents’ economic activities to mitigate risks for policyholders.
Here are some of the most common types of insurance in Luxembourg to protect your health and that of your loved ones, your personal property, or your business.
Some insurance policies are specifically designed for expats in Luxembourg. Do your research to ensure you’re properly covered in Luxembourg and internationally.
Car Insurance in Luxembourg
Car insurance is mandatory in Luxembourg for all motor vehicle owners. Car insurance covers property damage and bodily injury caused in the event of an accident.
When you purchase insurance, you can choose between minimum coverage, known as “third-party liability,” or comprehensive coverage. With the former, you’ll receive the minimum required coverage. Comprehensive coverage offers more extensive options and better protection against risks for yourself and third parties. Learn more about car insurance in Luxembourg.
Home insurance in Luxembourg
Home insurance is not compulsory in Luxembourg. However, it is strongly recommended to cover property damage. It protects your home against all the risks you may face: fire, natural disasters, theft, water damage, etc. Find out more about home insurance.
Civil liability insurance in Luxembourg
Civil liability insurance protects against claims in the event of bodily injury or property damage caused to third parties. It is an essential insurance policy for both individuals and businesses. It is not mandatory in Luxembourg, unless you own a dog. It is often included in home insurance and covers all members of the household except pets.
Pet insurance
It is important to have adequate coverage for your pet, whether for healthcare costs or for any damage it may cause.
Health insurance in Luxembourg
The National Health Fund (Caisse Nationale de Santé, CNS) is the main health insurance provider in Luxembourg. It covers basic healthcare, and residents are required to take out insurance. It is also possible to take out supplementary insurance for additional benefits and better healthcare reimbursement, depending on your circumstances. Find out more about health insurance funds and supplementary health insurance.
Life insurance in Luxembourg
Life insurance is a way to invest in the future of your family or beneficiaries. It can also be used as an estate planning tool .
Are you going on a trip soon? Have you thought about taking out travel insurance?
Insurance for businesses in Luxembourg
Businesses in Luxembourg have access to a range of insurance products to protect their activities. In particular, they can take out civil liability insurance, professional liability insurance, property insurance, and business interruption insurance, including for self-employed professionals.
In addition, it is important to note that certain insurance premiums are tax deductible. More information here.
Players in the Luxembourg insurance market
The insurance sector is well developed in Luxembourg. It includes a number of national and international players. Among the main insurance companies operating in Luxembourg are Axa, Bâloise, Lalux, and Foyer.
See our pages dedicated to insurance in Luxembourg for everything you need to know on the subject.
The insurance regulator in Luxembourg is the Insurance Commission (CAA). It ensures that insurance companies comply with regulations and protect the interests of policyholders.
Insurance costs and regulations
As everywhere else, the cost of insurance policies varies depending on many factors. It is recommended that you compare offers from different insurance companies for each type of insurance to find the best option. You will find application forms on our website to obtain insurance quotes online.
The Insurance Commissioner (CAA) is responsible for regulating and supervising the insurance sector.
Insurers are subject to solvency requirements. They must hold sufficient funds to meet their obligations to policyholders and protect their rights.
In conclusion, whether you are a private resident in Luxembourg or a company based in the Grand Duchy, it is important to be properly insured. And this should be done as soon as you arrive in Luxembourg. Do not hesitate to consult an insurance advisor to help you make the right choices for your personal situation.
What do you need to know when you arrive in Luxembourg? Here you will find the essential information you need to make a success of your expatriation.
Want to know more about Luxembourg? Download our Just Arrived guide for free.
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