French mortgage insurance: the Lemoine leverage

In a French property purchase, borrower insurance (assurance emprunteur) is where banks quietly make margin — and where the law now hands borrowers real leverage.

What the bank requires

Death and total-disability cover (décès/PTIA) on each borrower, usually plus work-incapacity (ITT) on main residences, sized by « quotité » — the share of the loan insured per head (two borrowers must total at least 100%). The bank offers its group contract (0.25-0.45% of capital yearly for a 35-year-old) ; external « delegation » insurers price the same borrower at 0.07-0.18%. Over 20 years on €250,000, the gap exceeds €10,000.

Your three Lemoine-law rights (2022)

One: free choice at origination — the bank may only refuse an external contract for non-equivalent guarantees, judged against criteria it must publish, answered within 10 working days, itemised in writing. Two: switch at any time during the loan, no anniversary dates, no fees; the new insurer handles the substitution. Three: no medical questionnaire when the insured share per borrower stays under €200,000 and the loan ends before your 60th birthday — couples can often structure quotités (50/50 on €380,000) to fit both heads under the threshold, decisive for anyone with medical history. A 5-year « right to be forgotten » also erases cancer and hepatitis C histories after treatment ends.

Expat specifics

Non-residents buying French property face a narrower insurer panel (several delegations exclude non-residents or certain countries); specialist brokers place most profiles. High-risk professions and sports are priced very differently across insurers — comparing is not optional. And never cancel an old policy before the bank’s written acceptance of the new one: continuous cover is a loan condition.

More expat guides: Insurance in France: the expat’s map · Car insurance in France: the expat mechanics · Home insurance in France: tenant duty, owner wisdom · Health cover in France: sécu + mutuelle, decoded.