What to do if the bank requires you to take their home insurance

What to do if the bank requires you to take their home insurance

Change your bank if it does not respect the Lagarde law


The Lagarde law allows you to take the insurance of your choice. The attitude of the bank here is abusive. The ideal would be to compete with the loan and to have several offers. Realize a real estate loan simulation with our broker partner in CREDIT: he can find a rate equivalent to your bank and make you a credit proposal within 48 hours.

Enforce the Lagarde Law by imposing your choice of borrower collateral


In a first time, about the insurance of loan, I advise you to make him an email by making it clear to him that the Law Lagarde allows you to choose your insurance credit and that you wish to profit from this right, so as to have a writing.

The possibility of changing your insurance contract for 1 year

If you subscribe the loan insurance contract proposed by your bank, know that thanks to Hamon law, you now have a period of one year, from the date of signing your credit, to change the contract in subscribing to the insurer of your choice.

Reminder on the Lagarde law

The Lagarde law allows you to subscribe to the insurer of your choice insurance with guarantees equivalent to those of the group contract of the lender. This is called “insurance delegation”. This allows you to benefit from an individual coverage whose guarantees and prices depend directly on your profile and your situation.

Use your right to change loan insurance


The cost of loan insurance can represent up to 25% of the total cost of a home loan. From now on, you have 1 year to replace your group insurance contract with the individual insurance of your choice. You then have the time to properly review your contract and compete between offers to get cheaper and more suitable loan insurance. You can significantly reduce its cost and lighten that of your mortgage.

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