How to cancel car insurance
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How to cancel car insurance, Canceling your car insurance shouldn’t be a problem as long as you do it the right way. However, if you do not carry out all the procedures well, nor do you take into account some conditions, your insurer can put obstacles in the way of canceling your policy. In this article, we tell you how to cancel car insurance in great detail.
You can also go directly to our car insurance comparator to assess other policies. In just 3 minutes you can access the offer of 30 different insurers. In addition, an expert adviser will guide you throughout the process of canceling the insurance and will speed up all the procedures, if you finally decide to contract with us.
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What to keep in mind when canceling car insurance
If you want to cancel your car insurance you have to take into account two aspects such as when you want to cancel it and how you have to do it.
The term to cancel the insurance
The first is: when to do it? The first thing you need to know in this case is that you must communicate your intention to cancel the insurance to the company at least 30 days before the expiration date of the policy. Otherwise, it will be renewed automatically and you will have to wait for the following year to change your insurance. With the inconveniences that this can entail, especially if the price has been raised or you have found another one that covers you better.
The procedure for canceling car insurance
This decision to cancel your car insurance must be notified to the company in writing. From Acierto.com we recommend that you send your insurer the notification either by burofax, telegram or by certified letter.
This is a safe way to do it and the request will be permanently recorded. Although it is true that some insurers allow you to cancel the policy by phone or through their website. In this case, you must demand that the written confirmation be sent to you by email or fax, to avoid possible unforeseen events.
What does the law say about canceling car insurance
All this is included in Article 22 of Law 50/1980 on Insurance Contracts and the amendments incorporated in Law 20/2015, on the organization, supervision and solvency of insurance and reinsurance entities.
It is important to know that car insurance is renewed automatically depending on what is established in each contract. In this way, and as established by the regulations: all insurance policies are annual and the duration of the “contract will be determined in the policy, which may not set a term of more than ten years.” Thus, “it may be established that it be extended one or more times for a period not exceeding one year each time”.
Regardless of the mode of payment (in cash or installments), the desire to cancel the car insurance is subject to the regulations established by this law. Thus, “the parties may oppose the extension of the contract by means of a written notification to the other party, made at least one month before the conclusion of the current insurance period when whoever opposes the extension is the policyholder, and two months when he is the insurer”.