Letting buildings insurance laspe.

[Ysatis]

   Hypothetically, what are, if any, the consequences of letting house/buildings insurance laspe. For example, you have insurance but don't want to continue with that company, not enough time before expiry date to cancel in a proper manner and don't pay the next years payment when is is due.

Regards,

[BJSLIV]

The contract will be automatically renewed and you will be pursued by the company's debt collection process.

[Ysatis]

   I see, not something I was considering to do as I still have plenty of time left. But was curious if I did run out of time. I'm gathering different quotes and was concerned if I hadn't come to a decision in time what would be the outcome.

Thanks.

 

[scotslassie]

I am not sure how correct this is but the agent who sold me my barn has lived in france 20 years.  She told me that you need to write to cancel insurance 6 months before the date if you wish to renew or cancel.  She did say that it automatically renews otherwise and you are liable for the costs.  Not sure if that helps any or if it is totally accurate but this is what I was told.

[Ysatis]

   I allowed a good 2 months before mine was up for renewal.  I received a letter from them yesturday accepting my cancelation. Very staight forward I'm pleased to say.

 

 

 

 

[ams]

If you do not cancel the contract it generally will be continued and you will be responsible for the cost. In France it is necessary to give 2 months notice in writing to cancel the contract. However this regulation has been abused by the assurance companies so that the government in their wisdom made a change to the regulations about 2 years ago. Now all you have to do is write a letter stating that you are cancelling the contract "selon Loi Chatel" do ask for your certificate de radiation. Send the letter by registered post together with the avis de reception to the company. In this way you can legally cancel an assurance contract within 20 days from the date of the receipt of the invitation to renew the existing policy. That date is usually taken from the date of the postmark on the envelope, so do keep the envelope.

 

ams

[Winston]

On a similar theme, I sold my house in France at the end of last year, my buildings and contents insurance ran until May of this year, and I didn't bother to cancel it.  I received a renewal letter, which I ignored, but when I received a second reminder I returned it to them with 'Maison vendu' written on it.  They have now written to me asking for a copy of the notaire's documentation regarding the sale, and asking for the details of the new owners, so they can write to them.  I was just going to ignore this, as the new owners will, I'm sure, have arranged their own insurance, and may not want their details passed on to a third party.  However, this post has got me wondering if I should reply?

Grateful for any advice / opinions on this.

[AnOther]

They are probably looking to verify your story in case you're fibbing and they can pursue for the money. Writing to the new owners would be another way of checking but they can do that whenever they like, it's not as though they don't have an address is it, although whether they got a reply or not is an other question.[blink]

If you no longer live or intend to live in France or keep a bank A/C there then personally I'd let them whistle. Whilst it is feasible to chase debts across borders I can't believe the cost of chasing you for what, €300-400 - which isn't money they haven't actually laid out either, will be worth their while.

 

[powerdesal]

It wouldn't hurt to send them proof of sale of the property, without details of the new owners. It keeps the insurance co sweet just in case you want to have dealings with them or any associated companies in the future. What does it cost? The price of a stamp. Companies do talk to each other and potential 'black listing' ( can I say 'black' these days) should be avoided.

[gosub]

[quote user="Winston"]

On a similar theme, I sold my house in France at the end of last year, my buildings and contents insurance ran until May of this year, and I didn't bother to cancel it.  I received a renewal letter, which I ignored, but when I received a second reminder I returned it to them with 'Maison vendu' written on it.  They have now written to me asking for a copy of the notaire's documentation regarding the sale, and asking for the details of the new owners, so they can write to them.  I was just going to ignore this, as the new owners will, I'm sure, have arranged their own insurance, and may not want their details passed on to a third party.  However, this post has got me wondering if I should reply?

Grateful for any advice / opinions on this.

[/quote]

This should also serve as a warning to other people selling their

property, it's one of the few instances that you can cancel your

insurance mid term without penalty, always send off a copy of the sale

document, which the Notaire provides for this purpose. No need to pass on the new owner details

[Winston]

Thanks for those replies.   I will take your advice and send off confirmation of the sale - I do still have a bank account in France, so don't want to create any unnecessary hassle for the future.  It never occurred to me I might be able to claim any money back for the unused part of the policy - you live and learn.