Lemoine Law 2025: Switch Mortgage Insurance in France

Note: This content is specific to the French property market. In France, Borrower Insurance (Assurance Emprunteur) is mandatory and expensive. Banks often push their own "Group Contracts" which are overpriced. The Lemoine Law (2022) is a game-changer. It gives you the right to: 1. Switch Anytime: Cancel your current insurance and switch to a cheaper external provider at any moment, without fees. 2. Right to be Forgotten: Cancer survivors only need to wait 5 years (instead of 10) to be treated as standard risk. 3. No Medical Exam: For loans under €200k (per person) ending before age 60.

The Savings

Switching from a bank's policy to a specialized insurer can save you 50% to 70% on premiums. On a standard loan, this equals €10,000 - €15,000 in total savings. 👉 [French Mortgage Insurance Calculator](/en/calcul-frais-de-notaire)

How to Switch Your Mortgage Insurance

To switch your mortgage insurance, you will need to:

Inform your bank of your intention to cancel your current insurance policy

Choose a new insurance provider that meets the requirements of the Lemoine Law

Sign a new insurance contract with your chosen provider

Notify your bank of your new insurance policy

Benefits of Switching Mortgage Insurance

Switching your mortgage insurance can have several benefits, including:

Lower premiums: Specialized insurers often offer lower premiums than banks

Increased flexibility: You can choose an insurance policy that meets your specific needs and budget

Improved coverage: You may be able to find an insurance policy that offers better coverage than your current policy

Example of Savings

Let's say you have a mortgage of €200,000 with a bank's insurance policy that costs €1,500 per year. If you switch to a specialized insurer, you may be able to find a policy that costs €750 per year. Over the life of the loan, this could save you €12,000.

Eligibility for Switching Mortgage Insurance

To be eligible to switch your mortgage insurance, you must:

Have a mortgage in France

Have a current insurance policy with a bank

Meet the requirements of the Lemoine Law

Requirements of the Lemoine Law

The Lemoine Law requires that:

You must have a mortgage of less than €200,000 per person

Your loan must end before you reach the age of 60

You must not have any pre-existing medical conditions that would prevent you from getting insurance

How to Choose a New Insurance Provider

When choosing a new insurance provider, you should:

Research different providers: Look into different insurance companies and compare their policies and prices

Check the policy details: Make sure you understand what is covered and what is not

Read reviews: Look at reviews from other customers to get an idea of the provider's reputation

Tips for Switching Mortgage Insurance

Here are some tips to keep in mind when switching your mortgage insurance:

Don't wait: The sooner you switch, the sooner you can start saving money

Shop around: Don't just choose the first provider you find, shop around to find the best deal

Read the fine print: Make sure you understand the terms and conditions of your new policy

Common Mistakes to Avoid

When switching your mortgage insurance, there are several common mistakes to avoid, including:

Not researching providers: Failing to research different providers can lead to you missing out on the best deal

Not reading the policy details: Failing to read the policy details can lead to you not understanding what is covered

Not switching soon enough: Failing to switch soon enough can lead to you missing out on savings

Summary of Key Takeaways

Here is a summary of the key takeaways:

The Lemoine Law allows you to switch your mortgage insurance at any time

Switching can save you up to 70% on premiums

You must meet the requirements of the Lemoine Law to be eligible to switch

You should research different providers and read the policy details before making a decision

You should switch as soon as possible to start saving money

Frequently Asked Questions

Here are some frequently asked questions about switching mortgage insurance:

Can I switch my mortgage insurance at any time? Yes, the Lemoine Law allows you to switch at any time.

How much can I save by switching? You can save up to 70% on premiums by switching to a specialized insurer.

Do I need to have a medical exam to switch? No, if you meet the requirements of the Lemoine Law, you do not need to have a medical exam.

Can I switch if I have a pre-existing medical condition? It depends on the condition and the provider, you should check with different providers to see if they will cover you.