As with all other insurances, you can terminate your home insurance contract under certain conditions and following strict legislative rules. These rules are explained in the Insurance Code, Chapter III, Obligations of the Insurer and the Insured as well as Articles L113-15. Therefore, find below the conditions that must be met before claiming a termination of your home insurance contract.
Terminate your contract based on the provisions of the Hamon law
Considering Article L113-15-2 of the Insurance Code which was integrated into the Hamon law of March 17, 2014, any subscriber of home insurance has the possibility to terminate their contract as of their first anniversary or after this date without any fees or penalties.
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The insured simply needs to send a registered letter with acknowledgment of receipt two months before the due date to their insurer.
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You will find on the Document Gratuit website a template for a home insurance contract termination letter that you can download for free and adapt to your situation.
An individual who is a homeowner can just follow the directive stated above to terminate their home insurance contract. However, for a tenant, it will be necessary to go through another insurance company that will handle the entire termination process. However, you must become a client of this assisting company, which must at least cover your mandatory tenant liability insurance.
It should also be noted that the Châtel law, much less used today due to the enactment of the Hamon law, can also be used to terminate home insurance.
Termination of home insurance in the event of an increase in premium or deductible
The insurer has the option to increase the premium amount at the end of each contract. They can also decide to increase the deductible associated with it in the event of a claim. To do this, the insurer notifies this increase in the notice of expiration sent to the insured.
If this is not acceptable, the insured can decide to terminate their contract as soon as possible (one month after receiving the notice of expiration) by sending a registered termination letter with acknowledgment of receipt to the insurer. The termination must be effective one month later.
Termination of home insurance in case of a change in life circumstances
- Moving to another residence
- Change in marital status or regime
- Change of profession or retirement
- Permanent cessation of professional activity
These are the situations that may lead to the termination of the home insurance contract according to Article L113-16 of the Insurance Code.
A registered letter must be sent to the insurer within three months following the incident to obtain the termination of the contract one month later.
Possibility of termination in case of modification of risk
It happens that the risk to which one has subscribed decreases. If in this case, the insurer refuses to lower the premium amount after you have notified them, you can immediately terminate your contract by following the same procedure described earlier.
In the case of the disappearance of the risk (loss of the insured property, for example), termination is automatic.