Termination of young driver car insurance: when, how?
Auto insurance termination works both ways. Indeed, if certain legitimate reasons authorize your insurer to terminate your contract, you can perfectly put an end to it on your own initiative. Including if you are a young driver! Advice and instructions.
Under what conditions can a young driver cancel his car insurance?
Most auto insurance policies are automatically renewable. This means that unless otherwise specified by the subscriber, they are automatically renewed each year, on the expiry date. Like experienced drivers, young drivers have the option of terminating their car insurance contract from the first anniversary date, ie after one year of subscription.
This is what the Hamon law provides. You have no reason for termination for your decision to justify to your insurer. Termination of the contract does not entail any costs or penalties.
remember to ask for an information statement This document provides information on your profile and retraces your history as a driver. It will not necessarily be issued to you automatically by your insurer. However, you will need it to take out new insurance. Your former insurer has 15 days to send it to you.
Early termination of young driver car insurance: in which cases?
Exceptionally, it is possible to terminate your auto insurance before the first due date. This opportunity arises in particular in the following cases:
- Reduction of the risk insured without reduction of the amount of the insurance premium;
- Aggravation of the insured risk (your insurer will then offer you new insurance conditions, which you are entitled to refuse);
- Transmission of the vehicle to a third party;
- Increase in the insurance rate without any particular reason.
Date, procedure: how to cancel your young driver car insurance?
In the context of a termination, two scenarios may arise:
- The vehicle will continue to circulate;
- The vehicle will no longer circulate.
In the first case, you must take out insurance. The cancellation procedure then falls to your new insurer. You don’t have to worry about any formalities. All you have to do is provide him with the information relating to your old contract (contact details of the insurer, contract number, insured number). In the second case, to be able to cancel your car insurance contract, you must take the steps yourself with your insurance company. In practice, you must send a registered letter (paper or electronic) with acknowledgment of receipt to inform him of your wish to terminate your contract. Regarding the terms of termination, they differ depending on whether you terminate your contract before or after the first year.
Termination on the first expiry date of the contract
To avoid the automatic renewal of your contract, you are required to respect a notice period. This is normally set at 2 months. For example, if the expiry date of your contract falls on May 31, you must send (or have your new insurer send) your cancellation letter by March 31 at the latest. The postmark is authentic.
Your insurer is required to remind you of your right to cancel at the same time as it sends you your notice of expiry. If he sends it to you less than 15 calendar days before the termination deadline, you can terminate your contract within 20 days of the said sending. The termination then takes effect not on the due date, but on the day after the date appearing on the postmark. Please note: only tacitly renewable contracts are affected by this law.
Termination after 1 year of subscription
No notice period is imposed on you here. This, for a good reason: the termination can here be done at any time, independently of the annual deadline. It will take effect 1 month after the date of receipt of your request. During this period, you will still be covered by your contract. Once the termination is effective, your insurer has 30 days to refund the overpaid premiums.