Having insurance for our vehicle is mandatory to be able to circulate, but there are various options on the market. Upon examining the bank account and verifying that the insurance company has automatically renewed our policy for another year, many drivers decide to change insurers, starting a process that can become a true odyssey. To change insurance with guarantees, the company specialized in the family has published a series of recommendations to take into account.
For many families, it is essential to know the steps they must follow to this end, when to do it and how to choose an insurer that best suits their needs and their finances.
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“The main errors that we have detected among users is that they either forget the renewal date, which means that they renew automatically without knowing it and this forces them to spend another year with the insurer, or they decide to cancel the bank receipts, which that does not solve the matter and can harm them by receiving legal claims and even ending up on delinquent lists”, highlights David Navarro, CEO of Wiquot.
These are the 6 keys to be able to unsubscribe from insurance :
1. Insurance can be canceled one month in advance. The new Law 20/2015 from January 1, 2016, establishes that the limit for the user to cancel an insurance policy is up to 30 days before the date that appears on it.
2. The insurer must notify the client 2 months before the end of the contract about any change in the policy (eg change of coverage, premium, etc.).
3 . The expiration date of the insurance should not be confused with the expiration date of the deferred payments. This is a common mistake that can be an obstacle when unsubscribing.
4. Insurance can only be canceled after the deadline in the following cases:
If the insurance company makes changes to the conditions of the policy. In this case, there is a month to be able to present the withdrawal without penalty. In addition, the user has the right to claim the financial refund corresponding to the price increase.
When insurance is contracted by phone or online, there are 14 calendar days to cancel the contract without penalty.
In the case of life insurance, if an individual policy has been contracted for more than 6 months, there is a term to terminate the contract up to 30 days after signing it and the company must return the proportional part of the amount paid.
If the risk of the insured is reduced, the price of the premium must be lowered. If not, the contract can be canceled in the following 15 days.
5 . The regulations indicate that cancellations must be made by an accessible and durable medium. For the request to terminate a contract to be recorded, it is recommended that you send a certified letter with acknowledgment of receipt or fax or, if it is done by phone, ask the agent who has assisted us for proof of that request for termination. email or fax.
6. Once the cancellation request process has been completed, it is the insurance company that must approve the cancellation. In no case should the receipts be returned because in this way the user would be unilaterally breaking the contract and could be harmed. If the cancellation is denied, the client must pay the proportional part of the premium that is still pending.
