Loi Lemoine: change your borrower insurance at any time

Until now, after the first year of your loan, it was only possible to change borrower insurance on the anniversary date of your credit, with two months’ notice. But all that is over. Indeed, the Lemoine law, entry into force on June 1, 2022relaxes the conditions relating to the change of borrower insurance.

Indeed, for all mortgages signed after June 1, 2022, borrowers will be able to cancel and change loan insurance as they see fit, at any time of the life of the contract. However, the new contract must offer guarantees equivalent to the old one. From September 1, 2022, this possibility will be extended to all old loan contracts! In addition, a registered letter with acknowledgment of receipt (LRAR) is no longer necessary to inform your bank of your intention to cancel. A simple letter, email or message on your customer area will be sufficient. You can therefore change the insurance of your loan with Cardif, for example, without delay and simply.

The fact of not having to wait for the anniversary date of the contract to change borrower insurance will allow you to compete more easily and potentially make significant savings. We must, indeed, remember that the cost of insurance can represent up to 30% of the cost of credit! It is therefore well worth a few hours spent comparing insurance in order to find the most suitable for your profile…

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