How do I cancel my insurance under the Hamon law?
Enforced on 1 January 2015, the Hamon Law, also known as the Consumer Law, allows policyholders to cancel their car, motorbike and home insurance policies at any time and with complete ease after the first year of subscription.
The ultimate aim of this law is to push insurance companies, faced with competition between their products, to offer consumers better and more competitive deals.
After 12 months and 1 day of insurance, you can cancel your car, motorbike or home insurance policy at any time. However, cancellation of your contract will only be effective after you have given a minimum of 1 month and 1 day's notice.
The cancellation procedures must be taken care of by your new insurer.
After you have taken out your new policy with deferred effect, your new insurer is obliged to send your previous insurer a registered letter with acknowledgement of receipt requesting cancellation of your previous policy on the effective date of the new policy taken out.
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The aim of this procedure is to eliminate burdensome administrative procedures for consumers, but also to reduce the risk of insurance interruptions due to a change of insurer.
Recap of the various stages in your insurance change
- 1. Taking out a car, motorbike or home insurance policy.
- 2. After a period of 12 months and 1 day of insurance, you can then cancel your contract at any time.
- 3. Search for a new insurer
- 4. Taking out a new insurance policy with a new insurer with a deferred effect of at least 1 month and 1 day.
- 5. Your new insurer sends a registered letter with acknowledgement of receipt to your previous insurer requesting the termination of your previous contract with effect from the subscription of the new contract taken out through its intermediary.
- 6. During this insurance transfer period, you remain insured with your previous insurer.
- 7. After this period, your new contract finally takes effect. You can then cancel your new insurance contract under the Hamon law after a period of 12 months and 1 day.