Borrower insurance: three months after its launch, what results for the Lemoine law?

Barthélémy Philippe, edited by Yanis Darras 09:06, December 01, 2022

It's a full box.

Nearly three months after its entry into force, the results are positive for the Lemoine law.

The latter makes it possible to terminate the borrower insurance of his credit at any time, whereas it was necessary to wait for the anniversary date of the contract before.

Seduced by this simplification, many borrowers have rushed into the breach by turning to alternative insurers who offer, with guarantees at least equal, more advantageous rates. 

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Among them, William.

This 43-year-old salesman, who borrowed more than 400,000 euros to buy his family home in Hauts-de-Seine, has just changed borrower insurance.

Thanks to the Lemoine law, he easily canceled the insurance taken out with his bank, which cost him 126 euros per month.

"With external insurance, it's decreasing. So, within five years, it will be 30% less. We arrive at 13,500 euros in savings over the total duration of the credit", he rejoices. 

15,000 euros in savings on average

Franck is a broker in Paris.

The entry into force of the Lemoine law transformed his profession.

“We have become real specialists in borrower insurance, in particular on the recovery of insurance, which represents a good 75% of our files”, he notes.

“We have existed since 1999, but thanks to the Lemoine law, we have recorded our best month of activity in September 2022”, he rejoices. 

Because the Lemoine law must break the monopoly of banks on borrower insurance.

And three months after the launch of the latter, the April group, a heavyweight in the sector, says that requests for quotes are pouring in.

Average savings per customer?

15,000 euro.