The need to terminate the CASCO agreement may arise from the car owner at any time. This is the desire to sell a car, and problems with the insured company, as well as other issues. In case you wish to terminate your current CASCO insurance contract, you will need to do certain things.
Study the contract and insurance criteria well. Make sure that the contract and insurance criteria provide for a refund of the money paid for the insurance in case of premature termination of the contract. In particular, the insurance criteria of most companies stipulate that the insurer does not pay the remainder of the insurance premium for the unexpired term of the contract.
Decide on the moment of termination. You should choose the period when it is best to terminate the insurance contract. This makes sense if the insurance contract is concluded with the condition of payment of the insurance premium by installments. In this case, it is better for you to cancel the contract at the moment when you need to pay the next installment of the insurance premium. This step will allow you to avoid further communication with the insurance company regarding the receipt of the remaining share of the insurance premium from them.
It will also be necessary to write a statement of termination of the contract. In the initiative. The contract is considered terminated from the date on which the application was written. Together with the application, you will be required to provide the insurance company with an insurance policy and an identity document. It should be borne in mind that the insurance company, when calculating the share of the insurance premium to be refunded in case of premature termination of the contract, recalculates the rates according to its criteria. Therefore, the amount that will be paid to you will not be commensurate with the amount calculated according to the unspent days. After you write an application and consider it in the company, the insurance company gives you the rest of the money under the contract.