Liability insurance cancellation

The reasons for canceling your student liability insurance may vary. Whatever be the reason, there are a number of conditions that you must meet to be able to cancel a liability insurance. In this article you can read exactly when you can cancel the insurance, how you do this and what do you have to take into account.

Why cancel?

There are a number of reasons why you could cancel your liability insurance:

  • You do not longer want a liability insurance
  • You want to take out a liability insurance with another insurer
  • You are going to live together and you let your name described on your partner’s liability insurance
  • The insured has died

The choice to switch can also have various reasons. For example, you may be dissatisfied with the insurer’s customer service, want different coverage, or have seen a cheaper insurer elsewhere.

How to cancel

If you want to cancel your current liability insurance, you can do so in writing. With most insurers you can do this either by e-mail or by letter. Make sure that you always keep all correspondence and receive proof of deregistration from the insurer. In this way you can always prove when you have canceled the liability insurance.

Cancellation assistance

Some insurers also offer cancellation assistance when you plan to take out a new student liability insurance policy with them. You usually have to enter a number of details and you will receive an e-mail or letter from the new insurer, which you only have to sign and send to your old insurer.

Notice period

You can cancel your student liability insurance if it runs for more than 1 year. The first year is the fixed contract period that you can only terminate in exceptional cases. After the first year, the insurer is not allowed to automatically renew your contract and you only have to adhere to the one-month cancellation period. You are then free to cancel the insurance monthly.

Exceptions

There are a number of situations in which you can stop your liability insurance during the first year and do not have to take the cancellation period into account. You are entitled to this when:

  • The insurer increases the premium
  • The insurer adversely changes the policy terms and conditions
  • You start living together
  • The insured person dies

If you stop the insurance before the end of the one-year contract period, there is a good chance that you will get your money back from the insurer. This amount is called the refund. Your insurer must always return this overpaid money.

Changing from insurer

If you want to switch to another insurer, it is wise to first look for a new insurer before you cancel the current insurance.

To make the decision for a new insurer easier, we have drawn up a top 5 student liability insurances.

Keep in mind that switching to another student liability insurance often takes some time and an insurer can also decide to refuse you.