Millions of French people pay for several insurance policies without always knowing what they really cover. And in some cases, they pay twice for the same guarantee, without gaining the slightest advantage.
Insurance is part of the decor. You subscribe to it for your car, your home, your health, your phone, school or even certain leisure activities. As you accumulate more over the years, it becomes almost impossible to remember all the guarantees to which you are entitled. This is where the trap closes. Many French people pay twice for the same protection, simply because they are unaware that they already benefit from it. And contrary to what one might believe, paying two contracts does not allow you to be better reimbursed.
No organization knows how many French people pay twice for the same insurance. On the other hand, one thing is certain: there are many opportunities for duplicates. Home insurance, complementary health insurance, guarantees offered at the time of a purchase, protections included with certain bank cards… Contracts multiply over the years, to the point that it sometimes becomes difficult to know what is already covered. Moreover, the DGCCRF noted, during a control campaign carried out in 2021 and 2022, that nearly one in three insurance establishments presented anomalies, particularly in the information provided to consumers. No wonder, in these conditions, that some people end up taking out a guarantee that they already have.
The most common example concerns taking out cancellation insurance when purchasing a plane ticket. When booking a flight, cancellation insurance is often offered just before payment. However, many travelers already have an equivalent guarantee thanks to their bank card, in particular with Visa Premier, Gold Mastercard or Visa Infinite cards, provided they have paid for the trip with this card and respect the conditions provided for in the contract.
Note that, according to a comparison carried out by MoneyVox on several airlines, cancellation insurance costs 15 euros at Air France for a Paris-Barcelona round trip sold for 196.60 euros, 20.70 euros at Transavia for a ticket at 199 euros, and can rise to 52.07 euros at easyJet for a formula covering the cancellation and interruption of the trip. Depending on the case, this protection represents between 7% and 35% of the ticket price.
For comparison, this protection is already included with several high-end bank cards. Again, according to MoneyVox, a Visa Premier costs on average 137 euros per year at the banks that charge it, while a Gold Mastercard costs around 133 euros per year. However, some online banks offer them free of charge, subject to conditions of use or income. This contribution is obviously not only used to finance cancellation insurance: it also includes other guarantees, such as medical assistance abroad, baggage cover, snow and mountain insurance or even covering the excess of a rental vehicle.
As you will have understood, if you already have one of these cards and have paid for your trip with it, it is therefore often unnecessary to add cancellation insurance when booking. It’s better to take a few minutes to consult your bank’s insurance notice: this can avoid spending between 15 and 50 euros more for a guarantee you already benefit from.
