UFC-Que Choisir de Nîmes accompanies consumers to help them free up several thousand euros in savings!
After more than 15 years of political battles, and while inflation is hitting the budget of
households, the UFC-Que Choisir of Nîmes welcomes the entry into force on September 1 of the measure
for which she fought: the termination at any time of the borrower insurance. Aware that the
Purchasing power gains made possible will only materialize if consumers are able to see clearly on this nebulous market, the association announces that it will lead information sessions on this subject. It will also present the free “borrower insurance” comparator and the contract change assistance service offered by SAS Que Choisir, registered with ORIAS.
Termination at any time must break the bank annuity of the borrower insurance. Borrowers spend 7 billion euros each year in insurance contributions for their home loan. Generally imposed by the bank, this guarantee covers all or part of the monthly loan payments in the event of a claim (death, incapacity, invalidity, etc.). Borrower insurance is above all a very lucrative product for professionals. Out of 100 euros in premiums paid by policyholders, only 32 euros are returned to them in compensation. This 68% margin is more than twice that of home and auto insurance.
While the measures taken previously have not been able to call into question the banking domination of this market, the Lemoine law must change the situation. It now allows borrowers to terminate their banking contract at any time to replace it with a cheaper alternative contract, and imposes dissuasive penalties on banks that attempt to prevent them from doing so. The effectiveness of savings therefore now largely depends on consumers, who must bring competition into play.
Thousands of euros to be saved by activating the competition!
While inflation is eating into consumer budgets, borrowers have more interest than ever in changing borrower insurance and replacing it with an alternative contract. For a standard loan,
the insurance represents a third of the total cost of the loan (21,000 euros against 60,000 euros) for a 40-year-old couple and a reserve of considerable savings.
By activating competition for a loan that has been in repayment for five years, for example, this household can save more than 11,000 euros until the loan matures. In detail, the gains vary from more than 800 euros for a 50-year-old smoking household to around 11,500 euros for a 30-year-old non-smoking couple. In the event of a change of insurance as soon as the loan is taken out, the savings are even greater. Gains can reach up to 15,000 euros for a household of 40-year-old borrowers, for example.
Avoid the pitfalls of the borrower insurance market
After recalling what this insurance is for and the rules governing the change of contract,
the association will offer advice on how to avoid the pitfalls that remain on this market. This is particularly the case with optional guarantees, the usefulness of which is often questionable, or the wide variety of insurance pricing methods, which can be the source of unpleasant surprises. Finally, the association will offer an animation on the handling of the services offered by SAS Que Choisir, namely a comparator as well as a change assistance service.
At the same time, a free independent comparator to evaluate the available offers and find the
the most suitable contract at the best price as well as a change assistance service are available to them.
disposal by SAS Que Choisir, registered with ORIAS as intermediary agent
insurance. Finally, a file allowing to decipher this opaque market is put online on the federal site of the UFCQue Choisir https://www.quechoisir.org/
Contact: Tel. 04 66 84 31 87 /06 36 46 59 08 – www.ufcquechoisir-nimes.org – Email: firstname.lastname@example.org. Association law 1901 Approved (2014150-0001) by the prefecture of Gard.