How do unsubscribe or cancel a Car or Motorcycle insurance?
How do unsubscribe or cancel a Car or Motorcycle insurance? Currently, the term to cancel car or motorcycle insurance is one month, that is, you must notify your insurer at least 30 days before the expiration or renewal date.
Cancel Life or Home Insurance
In the event that you wish to cancel a Life or Home policy, the terms depend on whether it is linked to a mortgage. Also, if you do, you should bear in mind that the conditions you agreed with your bank may change.
– Linked: to cancel a policy that is linked to a mortgage or a loan, you will have to send the notice of termination 60 days before the end date of the contract and, in addition, obtain the consent of the bank. This permission will be granted if you prove that you have previously contracted another insurance that replaces it and that includes the bank as a beneficiary so as not to lose its guarantee as a mortgage entity.
– Not linked: most policies are not linked to a financial product. In this way, you will only have to notify your insurer one month in advance of the expiration date of the policy by ordinary mail, telephone, or web.
How to cancel health insurance?
Canceling health insurance is as simple as car insurance. You will have to notify the insurer that you want to terminate the contract at least one month before the expiration of the policy. However, it is important that you know that most health policies have a duration of one calendar year, that is, from January 1 to December 31. Therefore, you will have to notify the insurer that you want to cancel your insurance, no later than November 30. The most advisable thing is that you review your policy to find out if your companies have a duration of one calendar year or if they start at the moment you contract.
In addition to meeting the deadlines, you have to take into account that if you cancel health insurance and later you want to contract a new one, you will have to respect again the grace periods that your new insurer has.
How to cancel insurance after the term?
If the term has passed and there is less than a month left for your insurance to be renewed, you can cancel it but the insurer will charge you for the full year and will terminate the contract when the twelve months have passed. In other words, you will have to pay the premium and you will enjoy all the coverage for one more year since the renewal will have already taken effect.