The consumer advice center explains what to look out for when changing contracts
Hannover, 03.11.2020 – Drivers will now receive the contribution invoice for the vehicle insurance again. This year it is particularly important to review the contract and have it adjusted if necessary. Because the corona pandemic also has an impact on road traffic and individual driving behavior. Working from home can mean fewer kilometers, for example. If you want to terminate your contract, you must observe the deadlines: If the insurance year ends on December 31, 2020, the cancellation must be received by the insurance company no later than November 30. The Lower Saxony consumer center gives tips on what to look out for when changing car insurance.
The fact that the contributions to motor insurance change every year is nothing new. The corona pandemic makes a review of the existing contracts particularly urgent: fewer traffic accidents could reduce the premiums. Many insured persons drove significantly less due to increased work in the home office. Others have avoided public transport and used the car instead. “At the latest after receipt of the premium invoice for the new insurance year, it should be checked how high the mileage is and whether money can be saved by adjusting the contract, changing tariffs or changing providers,” recommends Andreas Gernt, insurance expert at the Lower Saxony consumer center.
Important to know: If the circumstances change in relation to the agreed characteristics, such as the annual mileage, the policyholder is even obliged to inform the insurer. Contributions may be reimbursed if the mileage is lower. However, if the car has been driven more than agreed, it can become more expensive. “If the annual mileage listed in the insurance policy changes, the premium is usually recalculated retrospectively from the beginning of the current insurance year,” explains Gernt.
Observe the notice periods
If you want to change provider, the letter of termination must have been received by the previous insurance company by November 30, 2020. Exception: If the premiums are increased for the new insurance year, there is an extraordinary right of termination. In this case, the cancellation must be received by the insurer within one month of receiving the notification of change. “Policyholders can then terminate the contract with immediate effect, but at the earliest at the point in time when the premium increase would have taken effect,” says Gernt.
Further information on changing car insurance and important tariff components can be found at www.verbraucherzentrale-niedersachsen.de/kfz-versicherung-wechseln
–
