Who wants to terminate his legal expenses insurance must adhere to certain deadlines. When exactly the deadline for a proper termination of legal expenses insurance depends on the respective insurance contract. However, there is also a special right of termination. This should reassure customers who will soon receive a premium from their insurer.
When is it worth to cancel a legal expenses insurance? Usually when the contract is too expensive or the services leave something to be desired. However, many insured only irregularly check their insurance coverage. It can save you just in the legal expenses insurance a lot of money – and also reduce later court and legal fees – if you cancel the old legal expenses insurance and converts to a new contract. Experts advise that the insurance be regularly reviewed and, if necessary, terminated when a better contract is available. As with any other insurance, this also applies: The notice periods must be taken into account.
When can a legal expenses insurance be terminated?
The exact period of notice of the legal expenses insurance depends on the respective insurance contract. The decisive factor is whether the deadline is based on the insurance year or the calendar year. In any case, the notice period is three months. If the contract is based on the insurance year, it is important when the contract period has started. For example, if the legal expenses insurance was taken out at the beginning of August 1, the ordinary termination must be received by the insurer by 30 April at the latest. If, however, the period refers to the calendar year, September 30 is the reference date.
Legal expenses insurance terminate: special right of termination
In addition to ordinary dismissal, insured persons can also terminate the legal expenses insurance if, for example, the insurer increases the contributions. In this case, there is a so-called special right of termination. Insured persons can make use of this within one month of notification of the increase in the contribution and terminate their legal expenses insurance. The other deadlines do not apply here. For some insured persons, the special right of termination could become particularly important this year. Several providers are planning to increase premiums by October of this year.
Before the termination: find new legal protection insurance
However, before policyholders cancel an existing legal protection insurance, they should first have found a new policy. The complete renouncement of good legal protection always carries the danger that it nevertheless comes once to a judicial argument and then the accruing costs must be paid out of the own pocket. Before termination, insured persons should therefore seek alternative legal protection, for example by means of an online computer. Incidentally, it is easy to select the insurance modules that best suit your personal needs.