Cancellation of home insurance is essential when the policy no longer suits its subscriber. To this end, there is a whole series of procedures that must be followed carefully to cancel your home insurance contract. You can cancel your insurance when your contract expires. However, there are several conditions that you need to be aware of in order for everything to go smoothly.
Cancellation of home insurance at maturity
The first step in canceling your insurance contract is to send a registered cancellation letter (at least 60 days before the expiry date) to your insurer. At the same time, you should know that your insurance company is obliged to remind you of the expiry date of your contract, at least 15 days before the expiry date. Upon receipt of this notification, you have 20 days to send him your decision, always by registered letter.
If no reminder is made by your insurer, the cancellation of your insurance contract can be carried out at any time. You will not pay any penalty and you are not required to file a notice. Thanks to the Hamon law, you are also allowed to request a termination of home insurance with lesfurets.com. It is enough that your contract is dated at least 12 months. However, you must give notice, the duration of which is established in the contract.
Note that you can request a refund in proportion to the remaining duration. If ever your insurance contract is subject to a new pricing, your insurer must inform you. If this new rate does not suit you, you have 30 days to submit a request for cancellation of home insurance.
Termination due to changes in circumstances
A home insurance termination may be requested during the first year, in the event of a change of situation. The reason must be mentioned in the insurance contract. The change of residence, and the financial and professional situation are generally considered in the contract. For each of these reasons, you must send at least 3 months notice to your insurer. Your letter must be accompanied by documents justifying the change of situation.
It should be noted that the cancellation of home insurance will only be effective 30 days following receipt of your request. On the other hand, if your cancellation request is due to an aggravation of the risk covered, you must inform your insurance company within 15 days of the change in the situation. According to the law, your insurer will have to present you with a new insurance contract (which you are not obliged to accept) with a revision of the tariff.
Termination of home insurance for special cases
Among the legislative provisions that govern the termination of home insurance, special circumstances should be noted.
Increase in policy amount
Every year, your insurer must send you a notice of expiry and its new rates. This obligation is defined by the Chatel law. In the event that you notice an unjustified increase in prices, you can request a termination of the contract. In your request, you must mention the real reasons for your decision. The request is considered lapsed if your contract provides for a minimum increase and if the increase is due to a general increase in taxes.
Assignment of housing
In the event of a move, you also have the right to claim a termination of home insurance. In this type of situation, your request must be sent to your insurer and accompanied by supporting documents.
In the event of cancellation by the insurer
It’s not just policyholders who can terminate a home insurance contract. Indeed, insurance companies can also use this approach in the event of an accumulation of unpaid debts or a false declaration on the part of their client. In this type of case, the subscriber is informed of the decision of his insurer by a letter with acknowledgment of receipt. The cancellation of the contract takes effect within 30 days of sending the letter.
Taking out home insurance is highly recommended, although it is mandatory for tenants of a condominium. For any request for cancellation of home insurance, it is essential to refer to the legislation in force.