Jo Posted August 12, 2013 Share Posted August 12, 2013 If I want to cancel an existing contract to take up a better quote from another company, am I right in thinking I have to wait till the contract is due for renewal? (well, 2 months before so I have time to give them notice.) Or can I do it anytime providing I give 2 months notice? Link to comment Share on other sites More sharing options...
Val_2 Posted August 12, 2013 Share Posted August 12, 2013 Under the Loi Chatel you can cancel within 20 WORKING days of the expiry date. Your new insurer will do this by AR for you provided you sort out the new one in time. The two month notice does NOT apply any longer for some time now and I have done this several times. Link to comment Share on other sites More sharing options...
Pickles Posted August 12, 2013 Share Posted August 12, 2013 [quote user="Jo"]If I want to cancel an existing contract to take up a better quote from another company, am I right in thinking I have to wait till the contract is due for renewal? (well, 2 months before so I have time to give them notice.) Or can I do it anytime providing I give 2 months notice?[/quote]Personally, I would give them more than the 2 month's notice, but I don't see much point in not having the end of the notice period coinciding with the renewal date, because I suspect you won't get much back. Use the form letters available on the internet, adapted as necessary and send LRAR, and if you have a broker, take 2 copies in with you, leave one with them and get the other stamped as a receipt. Link to comment Share on other sites More sharing options...
Pickles Posted August 12, 2013 Share Posted August 12, 2013 [quote user="Val_2"]Under the Loi Chatel you can cancel within 20 WORKING days of the expiry date. Your new insurer will do this by AR for you provided you sort out the new one in time. The two month notice does NOT apply any longer for some time now and I have done this several times.[/quote]My understanding of Loi Chatel is:The insurance company must send you a renewal notice no earlier than 3 months and no less than 1 month before the end of the notice period. If the renewal notice is received less than 15 days before the end of the notice period, or after the end of the notice period, then you have 20 days from the postmark of the renewal notice in which to cancel the insurance.I don't think I have EVER received a renewal notice more than 1 month before the renewal date, never mind the notice period!. Link to comment Share on other sites More sharing options...
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