Motorists beware: until 30. November most car insurance policies can be cancelled. This year in particular, the savings potential is high.
For motorists, it is one of the most important dates of the year: the deadline for cancelling vehicle insurance. Until the 30. November insured have time to change provider. Depending on when the contract was signed, the letter of termination can be submitted by mail, e-mail or via a customer portal. It is worthwhile to submit the notice as soon as possible. Because the cancellation must be received by the insurance company by the deadline in order to be approved.
Often, car insurers advertise attractive offers around the deadline to attract new customers. But this year in particular, a change could be particularly worthwhile. The corona pandemic led to a decline in driving: many employees worked from their home offices and did not have to drive to the office, and vacation trips also fell sharply due to the lockdowns.
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In turn, less traffic led to fewer accidents: according to the Federal Statistical Office, there have never been so few crashes since german reunification as in the first half of 2021. This affects the insurance premiums: due to the lower frequency of claims, rates are dropping.
If you are thinking about canceling your insurance, you have come to the right place.
- When is the most important deadlines?
- How must the letter of cancellation be formatted?
- How to find a new car insurance?
- When does the special right of termination a?
Car insurance: when is the car cancellation deadline??
As a rule, car insurance policies are valid for one year, from 1. January to 31. December. Even if a contract is not signed at the beginning of the year, it will initially be valid until 31. december and will be extended for one year thereafter. With a notice period of one month, the 30. November as the cut-off date.
In some cases, however, the effective date may vary, for example in the case of contracts with a term of less than one year. The insurance year is not linked to the calendar year – the one-month cancellation period applies in relation to the main due date. For example, if their contributions to the 1. September are due, the old insurance year ends on 31. August. Accordingly, your notice should be delivered no later than 31. july arrive at insurance company.
Which is also becoming more and more trendy: contracts with monthly cancellability. Young people in particular seem to prefer this arrangement structure because it offers more flexibility.
motor vehicle insurance: what must be included in the termination letter??
In order for your cancellation to be processed without problems by the respective company, certain information must be included in the letter:
- Addressesof the sender and the insurance
- Policy number
- Vehicle registration number
- Reason for cancellation: here you can refer to the "timely cancellation at the end of the insurance year" or to the special cancellation right
- Signature, if you submit the letter as a hard copy
submit notice: by mail, e-mail or customer portal
Who has a contract that before the 1. October 2016 completed was forced to send his resignation by mail. We recommend that you send your notice by registered mail with advice of receipt – this way you have proof that the letter has reached the company. Since it may take a few days for the letter to be delivered, it is best to send the letter at least three working days before the deadline.
Contracts concluded after 1. October 2016 can also be cancelled by e-mail. Many motorists prefer electronic cancellation because it requires less effort. The disadvantage of the mail method is that it is difficult to prove the receipt of the e-mail in case of dispute. You can prevent this situation with two tips.
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first: write as e-mail subject " cancellation of car insurance" and add your customer or insurance policy number respectively. How the insurance company can identify you as the sender. Second: have the receipt of the notice confirmed in a certain time frame. A sentence at the end of the letter as well as at the end of the e-mail should suffice as a reference.
Some insurance companies even offer – albeit sometimes somewhat hidden – the option of giving notice on their customer portals. as with the cancellation by mail, you should make sure that you receive a confirmation of receipt. Some portals automatically generate a confirmation email. To be on the safe side, you can take a screenshot of your screen as soon as you have submitted the corresponding form.
Special right of termination: Cancellation after premium increase or loss event
Apart from the regular cancellation at the end of the insurance year, according to the special cancellation right, insureds are allowed to cancel due to other reasons. One of these occasions is premium increase. If, for example, your vehicle type moves to a different type class or regional class, this may affect your payments. In such cases, your insurance company is obliged to inform you in writing about the premium increase. It usually does so via the annual contribution bill. As soon as you receive the letter, you have four weeks to terminate the contract.
Even after every claim, which you report to the insurance company, the special right of cancellation strikes – no matter if the company pays the costs or not. In order to be able to cancel, however, you must first wait until the negotiations on the obligation to pay benefits have been concluded. After that, a one-month notice period applies here as well.
change of insurance: how to find a new car insurance policy?
When looking for new car insurance, comparison portals such as check24, verivox and finanzcheck are the main helpers. But beware: the quotes listed may differ from the true costs! in addition, some companies do not even allow themselves to be listed in comparison portals. Before you have your vehicle reinsured, it therefore makes sense to check offers directly on the website of the relevant insurance companies or to talk to an advisor.