I am moving to Europe - can I bring my Verizon iphone 5 or should I buy a new one there?

Hello,
I am moving to Europe, specificaly France, soon and would like to know if I should bring my Verizon iphone 5, or just buy a new one there, since I will have to start a new contract with a European phone company while I am there. I haven't bought my new iphone 5 yet (because I am waiting for this answer) but my mother is alligble for an upgrade with her Verizon account and can get a brand new Verizon iphone 5 for a great deal. She was going to give it to me, but I am leaving for France in 3 months where I will be living there for at least a year. I was going to just purchase a new iphone 5 with one of the European phone companies (like Orange or Vodaphone, ect.) since I will be getting a good deal on them too (when signing up for a new contract), but if the Verizon iphone will work exactly the same over in Europe, I would rather get it now. Either way, I will be spending about the same amount of money. Will I be restricted somehow using a US iphone 5 in Europe, or are the US iphone 5's any different from the iphone 5's in Europe (or tide to European phone companies? Do they offer an insurance plan? (I'm not sure if this even exists in the US. I will be a new iphone user!) I'm just curious what which iphone will be more efficitant to use, since I will be spending most of my time in Europe.
I appreciate you answer!!

Click on the links on the right for some good information. The only concern is that a phone purchased in the States will only be seviced for any repairs in the States. You will not have any warranty coverage in France.

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