Borrower insurance: who can change it and how?


You can change borrower insurance, do not hesitate to compare competing offers. (© DR)

You have taken out borrower insurance with the bank that granted you your mortgage but you would like to see if competing offers are more advantageous? Know that it is quite possible to change loan insurance and thus save money.

Borrower insurance makes it possible to cover the total or partial repayment of your monthly loan payments in the event of temporary incapacity for work (total or partial), permanent disability (total or partial) or total and irreversible loss of autonomy or death.

You can take out your borrower insurance with the bank granting you your credit or with a competing institution. If, in a hurry, you have taken out the contract offered by your lending bank without consulting the offers of the competition, you can always change your insurance afterwards. The conditions to be met were simplified on June 1, 2022. Previously, you had to be within one year of signing your credit offer to change borrower insurance at any time (Hamon Law).

Beyond that, it was possible to change it each year, on the anniversary date of the signing of your loan (Sapin 2 Law or Bourquin Amendment). You can now change insurance at any time, even after the first year, if you took out your loan after June 1, 2022 (Lemoine Law). If your loan was signed before this date, you can benefit from this new regulation from September 1, 2022.

For a loan of 200,000 euros over 20 years, you can save more than 10,000 euros by

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