Since 1er June, insurers must make it easy for their customers to end their contracts online – the measure has been dubbed “three-click termination”. But when to do it? Until now, the answer varied according to the types of insurance. And looking in his contract for the date on which he had to send his request for termination was tedious. From 1er July, the process should however be simpler, because it will be possible to give up most of its daily insurance at any time, without explanation, provided that the subscription dates from at least one year ago.
This development follows an opinion from the Financial Sector Advisory Committee (CCSF) of April 2022, which insurers have undertaken to follow. “The situation was confusing for the policyholders and it needed to be clarified by standardizing the terms of termination”explains Corinne Dromer, president of the CCSF.
The possibility of termination at any time after one year concerns all individual insurance contracts (or collective insurance contracts with individual subscription) covering natural persons, outside their professional activities. This is the case for legal protection insurance, life accident cover or animal insurance.
These rules already applied to home and auto insurance, complementary health insurance and so-called “affinity” insurance (sold with a service or good). A letter must be sent annually to the insured to inform him that the contract can be terminated at any time.
Electric scooters excluded
Certain insurances are, however, not concerned, in particular seasonal contracts, valid for the year, such as school insurance or hunting insurance. Professional insurance is also excluded. Like provident insurance (covering incapacity, death, invalidity) and long-term care – these life contracts are based on long-term risks.
The CCSF also did not retain contracts covering yachting and personal motorized transport such as electric scooters or other Segways.
Finally, a type of coverage enjoys more favorable termination conditions: borrower insurance, taken out in particular when signing a mortgage. Since 2022, it can be terminated at any time, even the first year.