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How to cancel an insurance contract ?

 How to cancel an insurance contract ?

How to cancel an insurance contract ?

As a rule, an insurance contract is renewed automatically at the end of each year. The insured, having found more interesting offers with a company other than his own, could not change his insurance when he wished. It was not until the year 2015 and thanks to the adoption of Hamon's law that insurance customers were granted the right to terminate an insurance contract and take out other cover when they needed it. wish.

What is Hamon's Law?

Hamon's Law or Consumer Law was put in place on March 17, 2014, in order to streamline the insurance market and make it possible to terminate an insurance contract at any time without having to present proof. This law is applied to contracts signed or renewed after January 2015. As such, the SFAM (French multi-risk insurance company) emphasizes that car, motorcycle and home insurance are among the types of cover concerned by this law.

In order to avoid any problem in the event that the insured forgets to renew his contract after its expiration date, the majority of insurance contracts are automatically renewed on the anniversary date of their signature, this operation is called "Tacit". renewal 'in the event that neither the insurer nor the insured wish to terminate it'. The process of terminating an insurance contract is very formal. Regarding insurance contracts signed before January 2015, the insured could not cancel at the last minute.

What has changed with the Hamon law?

In fact, the coverage was renewed automatically, unless the insured sent an official letter informing his insurance company that he wished to terminate his insurance contract. This had to be done between three months and fifteen days before the renewal date and he had to send the letter by registered mail. Otherwise, the insurance was not terminated and the insured was legally obliged to pay for the following year.

With the new law of Hamon, once the first year has passed, it is no longer necessary to wait for a determined date before the anniversary of the contract, the insured can change insurance at any time after this first year. The request can be made by mail, phone or email.

How to cancel an insurance contract ?

How to cancel an insurance contract?

The procedure for terminating an insurance contract is very simple, the new insurance company chosen by the insured can act on his behalf and take care of the formalities for terminating the old policy, which means that the client does not all you have to do is sign your new insurance contract and let your insurer settle the transition. The change takes effect within one month.

The details of the policy, the date the document was received, the reason for the cancellation and other details should be mentioned in the termination request. 'Upon receipt of the cancellation request', 'the insurance company will contact the policy holder to find out the reasons for the cancellation and try to suggest solutions'. If the insured party wishes to terminate the insurance contract, the company is bound to accept its decision.

In the event that the insured would have paid the total amount of cover for a year, the insurer would be obliged to reimburse him the amount of contributions for the period after the date of termination, that is to say , not covered by the old insurance, within one month after this date.

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