Since the application of the Lagarde law on September 1, 2010, you have the possibility to contract the insurance borrower of your choice for your mortgage. It is even possible to change insurance during the loan. IT Insurance, a specialist in loan insurance, offers you a discount of up to 40% savings on your loan guarantee with equivalent guarantees.
Change borrower insurance in the course of loan is possible
Whether you have subscribed to group insurance or a delegation of insurance when setting up your home loan, you have the option to change your contract in the course of repayment. However, there are a number of rules that must be followed in order for the operation to proceed in the best conditions.
As a first step, attack your current insurance contract, the one you have taken out at the same time as your mortgage. With the agreement of the bank, the borrower has the possibility to terminate his contract in accordance with the terms and conditions of the latter. The bank may refuse the cancellation only if the new contract’s guarantees are lower than those of the old one.
Then, look for a new loan insurance adapted to your needs and your budget! Once the new contract has been chosen, consult your bank advisor to proceed with the cancellation of the old insurance, following the procedure. Indeed, you must respect the due date (often annual) of your lender.
Cost of insurance.
By choosing a delegation of insurance at IT Insurance, the customer can save up to 40% on the total cost of his loan insurance, and benefit from a powerful insurance solution adapted to his profile. The customer benefits from a tailor-made price (distinction between men and women, smokers / non-smokers, executive / non-manager, young people, etc.), therefore more competitive. Other benefits of the individual insurance: the possibility to take out a loan up to 250 000 € without medical examinations and to insure clients up to 85 years in Death / Invalidity. At IT Insurance we aim to offer quality at a fair price, which is why the customer pays a membership fee tailored to their profile.