Are you a police officer and looking for borrower insurance to cover your mortgage? If you encounter difficulties because of your profession, which is considered to be a high-risk profession, be aware that there are insurers specializing in complex profiles.
Borrower and police insurance
Borrower insurance is imposed by banks to cover your mortgage. Reassuring for credit organizations who can thus hope for coverage of your monthly repayments in the event of default, it is also essential for you. As a police officer , the risk of injury or death is high, this mortgage insurance protects you and your loved ones.
However, exercising a risky profession will impact the decision of insurers who are likely to request higher guarantees. An additional premium may be applied, while guarantees may be subject to exclusions. Another risk: being refused insurance companies to insure your loan.
Why is policing considered a risky job?
The profession of police officer is considered to be a high-risk profession . This is explained quite simply. As a police officer, you are called upon to intervene in the event of a fight, burglary, hostage-taking, crime, etc. Also, the risk of being injured or killed on duty is great. The risk of an accident is also high in the event of a chase with a criminal. And that’s without taking into account the stress related to your professional activity which can have an impact on your physical and mental health.
When you take out your home loan insurance , you must state very clearly the nature of your profession. Also, we invite you not to lie. In case of misrepresentation, when the risk materializes, the insurance company can simply refuse to compensate you.
What questions can you be asked as a police officer?
Two types of questions may be asked of you as a police officer insofar as you exercise a risky profession. First, as with any borrower, you will complete a medical questionnaire . Are you a smoker? Have you suffered from a serious illness in recent years? Have you had surgery? Do you take regular treatment? These are some of the questions you will need to answer to assess the risk of premature death or disease.
The police will be called upon to answer other questions:
- Do you regularly handle a weapon?
- What is your exact function?
- Have you ever been injured in the course of your work?
- Do you travel far?
Here again, it is better to answer the questions asked in a completely honest manner. Depending on the answers, the insurance company will consider different solutions:
- Insure you normally without additional premiums or exclusions, as if you were not practicing a risky profession
- Offer you borrower insurance for police officers with an additional premium
- Apply exclusions to the contract, which will limit coverage
- Refuse to insure.
What solution if you are refused loan insurance?
If your bank’s insurer refuses to cover your home loan, don’t worry, there are other solutions.
With the Lagarde law , you can take out the borrower insurance of your choice. You can then find mortgage insurance:
- With another general insurer
- With an insurer specializing in high-risk occupations.
Death guarantee, PTIA , ITT, IPP, etc., a specialized insurer will be able to offer police officers guarantees adapted to the risks of their profession to cover them in the event of death, disability or temporary interruption of work.
How to choose the best borrower insurance for a police officer?
To find the best borrower insurance as a police officer, we invite you to compare the offers and above all not to stop on that of your bank’s group insurance. The home loan insurance comparator is a quick and easy online solution that allows you to have a broader view of market offers.
Compare allows you to study both the guarantees and the prices to find a cheaper contract allowing you to reduce the total cost of your credit.