Reasons for canceling home insurance
The reasons why you decide to terminate your contract can influence the way in which your termination procedures.
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You wish make savings : it happens that by ignorance, eagerness, or simply because there is no more competitive offer at the time of the subscription, the insured choose one insurance contract which does not match his profile. If you are in this case, opt for best home insurance you will save on your budget while benefiting from formulas and guarantees that meet your needs.
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YOU cancel your home insurance for sale of real estate: when you sell your home, your insurance contract is automatically transferred to the buyer. In this case, you must inform your insurer of the sale, after which you will have 3 months to terminate your contract.
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You terminate your home insurance following a change of circumstances : it happens that changes such as a moving house, a new employment contract or a divorce changes your needs. In this case, you will have to inform the insurance within 15 days of the change then request the termination of your contract within 3 months.
it is important to note that certain situations may be considered as legitimate reasons of terminationin particular a non-payment of prime insurance or a increased risk
THE conditions for canceling home insurance
In all cases, the insured must respect certain procedures and deadlines in order to be able to terminate his contract home insurance easilyt.
What the law says about the termination of home insurance
Most contractsHome Insurance are renewed tacitly each year, unless the insured has expressly expressed his wish not to renew the contract. According to Hamon lawthe insured has the right to terminate his contractHome Insurance at any time, without justification particular, from one year after the subscription. Il must then send a letter of termination in registered with receipt of reception to his insurer in respect of a period of notice of 1 months before the date d’contract expiry.
What are the steps to cancel your insurance contract?
There are two main scenarios.
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If you are tenant : you must first subscribe to a new home insurance before deleting the old one. Indeed, being a tenant of an uninsured property is illegal. Thus, you do not have the right to send the cancellation request yourself: it is your new insurer who will be responsible for carrying out this process.
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If you are owner : You must send a termination request. Termination will take effect one month after receipt of your request by theinsurer. It is also advisable to sign a new contract d’Home Insurance before terminate the former so as not to be without assurance. Even if it is not a mandatory procedure, be aware that if a sinister occurs and you are not insured, all costs will be borne by you.
These things you need to pay attention to
It is important to note that the termination of your home insurance may result in fees or penalties, so be sure to check the terms and conditions of your contract before making any decisions. Likewise, if you have a mortgage on your property, your lender may have specific home insurance requirements. So be sure to check with your lender before cancel your home insurance. Finally, if you are in a situation where you have already paid insurance premiums for the current period, you may be able to get a partial refund. Be sure to check the terms and conditions of your insurance contract to see if you qualify for a refund.
How to contact your insurance company?
There are several ways: you can contact your insurer or telephone if your contract authorizes you to do so. The most common method is to send by registered mail letter of cancellation of your home insurance. It is also possible to make a declaration at the head office of the insurer or to go through a commissioner of justice. Termination normally takes effect 1 month after receipt of your termination request by your insurance company. Be sure to provide your insurer with all the necessary information:
The amount of the contributions due for the notice and the costs related to the cancellation must be communicated by the insurer.