Here are the steps to follow to cancel your insurance :
Check the cancellation terms of your insurance contract, which are normally specified in the general or special conditions of your contract.
Contact your insurer to notify them of your intention to cancel your contract. You can do this by telephone, registered post or e-mail. Make sure you provide all the necessary information, such as your policy number and the date on which you want the cancellation to take effect.
Cancellation fees
If you have to pay a cancellation fee, make sure you pay it. The amount of the fee may vary depending on the insurer and the type of insurance contract.
If you have taken out an insurance contract for a fixed term, check that the cancellation does not expose you to a penalty.
Ask your new insurer to provide you with a certificate of insurance, so that you'll be in the clear in the event of an inspection.
To cancel your insurance contract in Quebec in 2023, it's important to check the cancellation terms of your contract, to contact your insurer, to pay any cancellation fees, to check that the cancellation does not expose you to a penalty, and to ask your new insurer for an insurance certificate.
What is the difference between short-term and pro rata termination?
Short-term cancellation and pro rata cancellation are two different insurance concepts.
Short-term cancellation involves terminating an insurance contract before the scheduled expiry date. In this case, the insurer may apply a cancellation fee, usually specified in the general or special conditions of the contract. Cancellation fees may be fixed or proportional to the amount of remaining insurance premiums.
Pro rata cancellation, on the other hand, involves terminating an insurance contract and requesting a refund of the premiums paid for the remaining period of cover. In this case, the insurer calculates the amount of premiums to be refunded on the basis of the time remaining until the policy expiry date. The amount refunded corresponds to the prorata of the premium paid for the unused coverage period.
Short-term cancellation is an early termination of the contract with possible cancellation charges, while pro rata cancellation allows you to recover part of the insurance premium paid for the unused period.
How do I get insurance after being cancelled for non-payment?
If you have been terminated for non-payment of your insurance premium, this can have a negative impact on your ability to obtain new insurance. However, there are several options for obtaining insurance despite this termination for non-payment.
- Find an insurance broker: Visit insurance brokers are insurance experts who can help you find insurance after termination for non-payment. They can work with several insurers to find a policy that suits your needs and budget.
- Request reinstatement: If cancellation for non-payment has recently occurred, you can contact your former insurer to see if it's possible to reinstate your policy. This may be possible if you pay the outstanding premiums and cancellation fees.
- Choose non-standard insurance: Non-standard insurers often offer insurance for people considered to be at high insurance risk, such as those who have been terminated for non-payment. Insurance premiums for non-standard policies may be higher than for standard policies, but this option may enable you to obtain insurance despite your termination for non-payment.
- Explore insurance options in Canada: In some regions, governments offer insurance programs for people who have difficulty obtaining insurance. These programs may have specific eligibility requirements, but may be an option to consider if you've been terminated for non-payment. In Canada, it's the (IBC) Insurance Bureau of Canada which takes on cases that insurers no longer want.
In short, to obtain insurance after cancellation for non-payment, you can contact a broker insuranceYou can choose from a variety of options, including reinstatement, non-standard insurance or contact IBC. It's important to compare insurance offers to find the one that best suits your needs and budget.
