Compulsory insurances in Luxembourg
When you arrive in a new country, it is not always easy to know which insurances to subscribe to in order to protect at best your properties and your relatives.
To guide you better on this matter, Just Arrived informs you so that you know which insurances you should subscribe to when arriving in Luxembourg.Upon your arrival in Luxembourg, think of subscribing to the following compulsory insurances:
The public liability insurance
The public liability insurance covers the policyholder, his/her spouse and his/her non-married children living with him/her and indemnifies the damage caused to third parties by incorrect actions. This insurance covers the policyholder and his/her assignees as a private person, pedestrian, cyclist, sportsman, head of the family, house inhabitant, owner or responsible of pets, owner or user of household and gardening devices.
Thanks to this insurance, all the non-married people having no proper accommodation and living with the policyholder are insured free of charge.
It also covers possible accidents caused by snow or freezing in front of your home. Remember that it is your responsibility to clear your sidewalk areas.
The house insurance
This type of house insurance, declined under several more or less complete and modern offers according to insurance companies, always guarantees a compensation for the basic risks: fire, water damage, thefts, glass damage, storms and hail.
However, the tenant and the owner absolutely have to take a guarantee, that covers not only the house or the apartment, but also a range of secondary risks concerning both the furniture and the personal effects.
Nowadays, a house insurance can offer a compensation in case of vandalism, of terrorism or sabotage, but also in case of earthquake, graffiti, theft of garden furniture or technological objects and even in case of damages caused by the backflow of waste water and streaming of rainwater. Its compensation range is thus very wide and protects you against numerous daily domestic damages, which is why it is essential.
- Tenants insurance: as a tenant or roommate, you are supposed to take a tenants insurance to cover the house, the apartment as well as the appendices, but also the furniture and your personal possessions against the fire risks, water damage, thefts, glass damage and storms. Remember that in Luxembourg the value of the kitchen is included in the valuation of your insurance contract. Consider including it when valuing the amount of insurance!
- Owner insurance: that you live in your own house or that you propose it rented, you have to sign a house insurance covering all the risks damage, fire…
Already have an home insurance contract to insure your residence and your properties? We would advise you to consult attentively your house insurance contract to ensure that you are well protected. It can even be interesting to compare guarantees offered on your contract with other offers on the market. Certain companies plan an organisation of the emergency interventions connected to your house: water damage, blocked pipes, power failure, broken window, damaged roof, heating breakdown, immediate securing by a professional in case of intrusion, etc.
They take care of finding the right company to solve your problem!
For your information, a smoke detector must be installed in your home. You can collect a smoke detector free of charge from your municipality or the Ministry of the Interior upon presentation of a letter received by each household. Any additional information on the website www.rauchmelder.lu
Holding a vehicle in Luxembourg requires a number of administrative obligations. Among others, every vehicle must, according to the Luxembourg law, be insured with a public liability insurance that covers the physical and material damages caused to third parties.
A complete car insurance besides plans legal protection guarantees, fire, theft, broken glass and properties damage as well as the driver guarantee section. Your vehicle must be registered locally. Generally, after a 3-month period, your country of origin insurance will not want to insure you any more.
Even if the public transportation is enormously used in Luxembourg, numerous workers and residents have their own car. Signing a “complete” car insurance is then essential and compulsory.
The latter covers the “car civil liability” and the “legal protection”, the fire risks, thefts, glass damage, accidental or caused by a third party property damage… An “any risks” insurance, also called Casco, covers you in a really complete way on a daily basis, and it is thus deeply recommended because it is safer than an average “car civil liability” insurance.
The accident insurance
To protect yourself besides your car, the “accident insurance” is also strongly advised. Not compulsory, it plans compensations when the assured(insured) person dies or is a victim of an accident but also covers you on a daily basis, in case of hospitalisation, of work disablement, sports accidents… The best advice we can give you? Make sure that this insurance is general, and not limited to certain categories of risks.
Choosing your insurance company
Just arrived in Luxembourg and looking for an insurance company? We have selected for you the most popular insurance companies in the Grand Duchy so that you can make the right choice in your insurances.
Some risks must be covered in the Grand Duchy, such as car insurance, home insurance or public liability insurance. Luxembourg insurance companies will all be able to offer you insurance policies adapted to your needs, whether to insure your property, your assets or your family, or even the risks related to your professional activity.
Insurance companies in Luxembourg
Independents or affiliated to international companies, leaders or not in the field of insurances, they will offer you all the insurance services necessary to cover your domestic risks, of civil liability, of medical coverage, housing insurance, vehicle insurance, life insurance…
Among the most popular insurance companies in Luxembourg, you have the choice between several companies, among which we shall name: AXA Assurances, Allianz Insurances, Bâloise Assurances Luxembourg, DKV Luxembourg, Foyer, Lalux.
You can also opt for an insurance broker which will help you determine which insurance company you need, and at the best price possible.
Comparing insurance and guarantees
Your choice of insurance must be guided not only by the proposed prices but also, and especially, by the offered guarantees. Do not forget that an insurance is above all planned to cover one or several risks; think of verifying well which risks are covered and how much.
Insurance is a question of tranquillity for you and your family. Ask for an estimate, the description of the risks covered and the services offered before subscribing!
If the prices differ from one insurance company to another, it is often due to the difference of the guarantees offered and the conditions of insurance. Low prices are often synonymous with low warranties, high deductibles, many warranty exclusions. In all cases, upon receipt of the contract and before signing it, read the general conditions and especially the exclusions of guarantee of the proposed insurance policy.
Regarding car insurance, choosing a specific model can make you pay your insurance a little more expensive, among other things attention tuned cars, insurance can be much more expensive …
Insurance comparators are available on the web, do not hesitate to use them.
The CAA – Commissariat aux Assurances, is a public institution, under the authority of the Ministry of Finance. The CAA is the body responsible for overseeing the insurance sector in Luxembourg. It is among other things responsible for the protection of policyholders.
You will find on the CAA website all the documents related to the insurance sector in Luxembourg. An upcoming claims resolution service should be offered to consumers.
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