Can I change my mortgage insurance?
Yes, anytime, thanks to the Lemoine law. Since the Lemoine law (28 February 2022), you can cancel and change the insurance on your home mortgage at any time, without waiting for the anniversary date, with no fees, penalties or justification. The only condition is to offer a new contract with at least equivalent cover. The bank must reply within 10 business days and, if it agrees, amend the contract. Since the bank's insurance (group contract) is often far dearer than individual insurance, switching can mean several thousand euros of savings. The law also strengthened the 'right to be forgotten' (5 years).
📋 The rules
- Cancel/change anytime (Lemoine law)
- No fees, no penalties, no justification
- Condition: at least equivalent cover
- Bank: reply within 10 business days
- Right to be forgotten strengthened: 5 years (cancer, hepatitis C)
🔓 Exceptions
- Covers home mortgages (residential/mixed), not consumer credit
- Health questionnaire removed under conditions (loan ≤ €200,000/share, ending before age 60)
- The bank's refusal must be reasoned (cover deemed non-equivalent)
⚠️ Penalties & fines
The bank can't refuse an insurance switch with equivalent cover: a refusal must be reasoned, or it can be sanctioned (ACPR oversight). It also can't charge fees for the substitution. If blocked, you can go to the bank's or insurer's mediator. Check the equivalence of cover before cancelling so you're not under-insured.
📎 Official sources
- Service-Public.fr · Borrower insurance and the Lemoine law →
- economie.gouv.fr · Changing borrower insurance →
- Légifrance · Law no. 2022-270 of 28 February 2022 (Lemoine law) →
❓ Frequently asked
Can you change mortgage insurance anytime?
Yes, since the Lemoine law you can cancel and change your home-mortgage insurance at any time, with no fees or penalties, provided you offer a contract with at least equivalent cover.
Can the bank refuse the switch?
Only if the new contract's cover isn't equivalent, and its refusal must be reasoned. It can't charge fees or invoke the anniversary date. An unjustified refusal can be contested.
How much can you save?
Often several thousand euros, sometimes up to €15,000 over the total credit cost. The group insurance offered by the bank is generally far dearer than individual insurance with equivalent cover.
What did the Lemoine law change on health?
It removed the health questionnaire for loans whose insured share doesn't exceed €200,000 and that end before the borrower turns 60. It also cut the 'right to be forgotten' from 10 to 5 years for past cancers and hepatitis C.
Does it cover consumer credit?
No. The Lemoine law covers home mortgages (residential or mixed). Consumer credit and strictly professional loans aren't covered by this anytime cancellation right.
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