Special right of termination due to premium increase
So that a premium increase is easier to recognize, most insurance companies include one in the premium calculation Settlement contribution at. This comparison contribution is only determined fictitiously. It shows how high the previous post with the new (future) no-claims discount would have failed. If the comparative contribution is lower than the contribution to be paid in the future, the contribution has been increased (see example in the table).
Example of a hidden premium increase
However, some motor vehicle insurers do not include a comparative contribution in their premium statement – they are not obliged to do so. It is true that they must refer to the right of termination in the premium invoice – if one exists. But this note can often be found in the small print on the back of the invoice.
Deadline for the special right of termination
Further reasons for a special termination
• accident: A four-week special right of termination applies after a loss that has been settled by the insurance company. The prerequisite is that the claim settlement has been officially completed (await the insurer’s decision). The right to special termination also applies here to the insurer.
• Vehicle change: If you buy a used car privately, you first take over the car insurance of the previous owner. A special right of termination applies four weeks after purchase. If you sell your car yourself, the insurance is transferred to the new owner with the sale. If a car is deregistered, the insurance contract automatically expires after a non-contributory rest period.
When the special right of termination does not apply
Pay attention to formalities when terminating
Regardless of whether ordinary termination or extraordinary termination in the case of special termination rights: If you want to be on the safe side, you always send the termination as registered mail with acknowledgment of receipt – even if termination by fax or e-mail would be possible according to the insurance company’s terms and conditions. In the event of any discrepancies, it is always possible to prove that the termination was sent on time and reached the recipient. Important for the special right of termination: Make express reference to the reason for the termination in the letter of termination (for example: special right of termination due to premium increase). Otherwise, the insurance company can refuse to cancel after November 30th.