You have just acquired a property and go in search of a borrower insurance? Like the majority of French people, you probably wish that its cost does not weigh too much that of your credit. Do not panic ! Buying real estate credit insurance is now easier than before. Explanations.
What is the point of finding cheap borrower insurance?
Real estate credit insurance represents about 20% of the total cost of a loan.
You have the choice between opting for :
- individual insurance . Made to measure, it is more adapted to the profile of the insured and offers a wide range of guarantees . It is also less expensive.
- a group contract . Standardized, the choice of guarantees is more limited and contributions are higher.
Opt for insurance delegation!
Since the Lagarde law came into effect in 2010, a borrower is no longer obliged to take out the mortgage insurance contract offered by his bank.
He can now compete , compare offers, and choose the contract that suits him best in terms of guarantees and tariffs .
Take advantage of the Loi Hamon to change your insurance
If you have taken out a borrower insurance contract but you have found a cheaper and more suitable guarantee for your situation, you can cancel your contract at any time since 2014, in accordance with the principles of the Loi Hamon .
Only prerequisite: you can only make this cancellation within one year of your subscription . Indeed, if the annual cancellation of the borrower insurance was adopted in the National Assembly but must still pass before the Senate.
Exercise your right to annual cancellation
The Sapin 2 law now allows you to cancel your insurance-borrower contract every year . Contracts signed from 1 st March 2017 will be the first concerned by this measure. For the 8 million contracts already underway, the annual termination is possible in one year, from 1 January 2018 .
Compare mortgage insurance
Finally, to find the insurance borrower most suited to your situation and the cheapest in terms of contributions, you can compare the rates and guarantees of different companies.
You will have to pay attention :
- to support conditions of loss of job guarantees , death, permanent disability, temporary disability employment
- Waiting periods
- the insurance you wish to take out includes at least the guarantees required by your bank