Good news for those of you living in France: the newly enacted “Loi Hamon” allows consumers to easily – and without any fees – change their car, motorcycle, home or rental insurance providers at any time after one year. That means no more complicated “resiliation” procedures, registered letters or penalty fees if, after the initial year, you find a better offer elsewhere.
All of the necessary procedures to change are handled by your new insurer within one month. According to consumer watchdogs, you should be shopping around for a new contract at least every two years to get the best deals (the average is seven years, probably because it’s always been such a PITA, excuse my French).
How to change insurers in three easy steps:
1. Compare offers using sites such as www.lelynx.fr, www.assurland.com, or www.lesfurets.com
2. Subscribe to a contract with the new insurer, giving them permission to handle all of the administrative steps to cancel your current insurance contract
3. One month later your old contract will be cancelled and your new one will automatically take over.
You would think that staying loyal to the same company would get you better service and rates, but unfortunately (probably because it was always so hard for clients to cancel their contracts) insurers reserve all of the best offers for new clients. Maybe that will change now that they can’t make us stay longer than a year!