Is it possible to introduce compulsory home insurance in Morocco? The Insurance and Social Security Control Authority (ACAPS) has launched a study in this direction with ARM Consultants, reports Challenge. The aim is to assess the real needs in terms of home insurance and to draw up an inventory of existing offers on the Moroccan market. The study “will also draw on international experiences to develop a strategy adapted to the national context,” the magazine reports. A diagnosis will be established based on the risks associated with the use of homes. It will also take into account the economic and social impacts of a possible insurance obligation.
Regulatory adjustments and control mechanisms are proposed to ensure smooth and inclusive implementation of this measure. These proposals should promote an efficient and fair transition to a compulsory insurance system.
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In Morocco, home insurance remains optional. However, it is strongly recommended to take out one, whether you are a tenant or owner, in order to protect your home and your property. The advantage is that this insurance policy allows, in the event of a disaster, to make savings by reducing the financial impact of the damage.
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For the moment, home insurance products are offered in the form of packages or tailor-made offers, depending on the needs and means of the policyholders. The basic offer “generally includes coverage against fire, broken glass, floods and theft, with an average cost ranging from 300 to 500 dirhams per year,” it is specified. The premium can reach 600 dirhams per year, when the insured wishes to add additional guarantees.
Morocco
