Compulsory home insurance in Morocco: towards an imminent reform?
The earthquake that struck the Al Haouz region at the end of 2023 revealed the fragility of many Moroccan households in the face of material losses, in the absence of adequate insurance coverage. This observation highlights the low adherence to the multi-risk home insurance system in Morocco, particularly in rural areas and for housing acquired outside the banking circuit.
According to Monir El Bakouri, professor specializing in insurance and takaful insurance, only 4% of Moroccan housing is currently covered by home insurance. This low rate is explained by the lack of information, low purchasing power and a limited perception of the need for insurance. However, underlines the expert, “the cost of comprehensive home insurance remains affordable, with annual premiums varying between 300 and 600 dirhams”.
A bill under study
In this context, the Insurance and Social Security Control Authority (ACAPS) is examining the possibility of establishing a compulsory home insurance system. This system would cover not only traditional damage, but also the consequences of catastrophic events, natural or human. This type of insurance aims to provide security to owners and tenants in the face of unforeseen losses.
However, significant obstacles remain, particularly with regard to the financial capacity of low-income households, mainly in rural areas. Although the proposed bonuses are considered accessible, the obligation of such a levy raises questions about its impact on the most vulnerable citizens.
No immediate application yet
At this stage, this bill remains in the consideration stage. No official steps have been taken to make this type of insurance compulsory, but the initiative reflects a growing desire to encourage a culture of property protection in Morocco.
While awaiting a final decision, experts are calling for increased awareness of the importance of home insurance and better communication around its benefits and affordability.
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