The Complete Guide to Expat Insurance in Monaco and the French Riviera

Planning to relocate to Monaco or the French Riviera? Whether you’re an international executive, entrepreneur, or retiree, understanding your insurance options is essential for a smooth transition. This comprehensive guide covers everything you need to know, from health coverage to motor insurance and property protection.

Since 1977, Blair & Co has been helping expatriates settle in the Principality and along the French Riviera. Here’s everything you need to know to ensure you’re properly covered.

1. Understanding the Insurance System in Monaco

Monaco: A Unique System in Europe

The Principality of Monaco operates a distinct insurance system separate from France. Despite being geographically surrounded by France, Monaco has its own regulations regarding social protection and private insurance.

Key points to remember:

Monaco is not a member of the European Union, which affects certain coverage
The Caisses Sociales de Monaco (CSM) manages mandatory social protection
Private health insurance is strongly recommended as a complement
Monegasque-registered vehicles require specific insurance coverage

2. Health Insurance for Expats

The Caisses Sociales de Monaco (CSM)

If you work in Monaco, you will automatically be enrolled in the Caisses Sociales de Monaco. This system provides basic coverage similar to French Social Security, but with some important differences.

CSM coverage includes:

Medical consultation reimbursement (approximately 70-80%)
Partial coverage for prescription medications
Hospitalisation at Princess Grace Hospital Centre
Agreements with certain neighbouring French facilities

Why You Need Private Health Insurance

For expatriates accustomed to high coverage standards, private health insurance is essential. It complements CSM reimbursements and provides access to an international healthcare network.

Benefits of private coverage:

Access to private clinics in Nice, Cannes, and Monaco
Worldwide coverage for business travel
Medical evacuation and repatriation included
Private room and hotel-standard comfort
Preventive medicine and annual check-ups
Direct billing with partner facilities (no upfront payment)

Important Note for UK and US Citizens

Since Brexit, British nationals no longer automatically benefit from European health coverage. The European Health Insurance Card (EHIC) is not valid in Monaco regardless of your nationality. For Americans, the European healthcare system differs significantly from the US model. Comprehensive private health insurance is therefore essential for all English-speaking expatriates.

3. Motor Insurance in Monaco

Monegasque Registration Plate Requirements

Owning a vehicle registered in Monaco comes with both advantages and specific insurance obligations. Vehicles with Monegasque plates must be insured through insurers approved by the Principality.

Our motor coverage includes:

Mandatory third-party liability
Comprehensive coverage with agreed value for prestige vehicles
Track day coverage for enthusiasts
24/7 roadside assistance across Europe and beyond
Legal protection

Prestige and Classic Car Insurance

Monaco boasts one of the highest concentrations of luxury vehicles in the world. Ferrari, Lamborghini, Bentley, Rolls-Royce… These vehicles require coverage tailored to their value and rarity.

Our expertise in high-end vehicle insurance enables us to offer bespoke contracts with agreed value coverage, ensuring full indemnification at your vehicle’s true value in case of total loss.

4. Property and Asset Protection

Protecting Your Real Estate

Whether you’re renting or owning property in Monaco or on the French Riviera, home insurance is mandatory. For prestigious properties, standard coverage is typically insufficient.

Our property coverage includes:

Building damage coverage (fire, water damage, theft)
Contents protection with declared values
Fine art and valuables insurance
Landlord/tenant liability
Second home coverage
Property legal protection

5. Practical Advice for Your Relocation

Expat Checklist

Before you arrive:

Check the international validity of your current insurance policies
Gather your claims history documentation (especially no-claims bonus)
Have valuable items appraised by an expert
Contact a local broker to prepare your coverage

Within the first 30 days:

Register with CSM if you work in Monaco
Take out home insurance (mandatory)
Transfer or take out motor insurance
Activate your supplementary health coverage

Transferring Your No-Claims Bonus

Good news for expatriates: your driving history matters. We can help you transfer your no-claims bonus from your home country to your Monaco policy. Simply provide us with a letter from your previous insurer detailing your claims-free years, and we’ll ensure you receive the appropriate discount.

6. Frequently Asked Questions

Can I keep my UK/US car insurance if I move to Monaco?

If your vehicle remains registered in the UK or US, you may face complications with local requirements. If you register your vehicle in Monaco, you must insure it through a Monaco-approved insurer. We recommend discussing your specific situation with our team to find the best solution.

Does the European Health Insurance Card (EHIC) work in Monaco?

No, Monaco is not an EU member state, so the EHIC is not valid in the Principality. This makes private health insurance particularly important for all residents, regardless of nationality.

How much does private health insurance cost in Monaco?

Premiums vary based on your age, health status, and desired coverage level. Expect to pay between €200 and €800 per month for comprehensive individual coverage. We recommend requesting a personalised quote to get an accurate figure for your situation.

Can I be insured if I work in Monaco but live in France?

Yes, this is a very common situation for cross-border workers. You will be enrolled in CSM for social coverage, but you can take out supplementary insurance in either France or Monaco depending on your needs. We can advise you on the optimal configuration.

What’s the difference between an insurer and a broker like Blair & Co?

An insurer offers only their own products. A broker like Blair & Co works with multiple insurers to find you the best coverage at the best price. We represent your interests, not those of any insurance company.

Do you have English-speaking staff?

Absolutely. Our team is fully bilingual (English and French), and we’ve been serving the English-speaking expat community for nearly 50 years. We understand the specific needs and expectations of British, American, and international clients.

Ready to get covered?
Request your free quote online or contact our team for personalised advice.