{"id":15270,"date":"2017-02-10T13:00:43","date_gmt":"2017-02-10T12:00:43","guid":{"rendered":"https:\/\/pibgroupiberia.com\/?p=3477"},"modified":"2025-07-21T12:13:11","modified_gmt":"2025-07-21T10:13:11","slug":"how-to-cancel-an-insurance-policy","status":"publish","type":"post","link":"https:\/\/pibgroupiberia.com\/en\/como-se-debe-anular-una-poliza-de-seguro\/","title":{"rendered":"How should an insurance policy be cancelled?"},"content":{"rendered":"

New customers who call us or contact us via the web ask us when they want to bring their insurance to our brokerage, how they should cancel their existing policies<\/strong>. We believe it is very useful to know this information, as there are sometimes people who are surprised when their company does not cancel their policy simply by returning the receipt.<\/p>\n

What the Insurance Contract Law says<\/h2>\n

Let's look at what the Law says: the Article 22, point two of Law 50\/1980<\/em>, (after the reform which came into force on 1 January 2016)<\/p>\n

The parties may oppose the extension of the contract by written notice to the other party, given within a period of three months after the expiry of the contract. at least one month before the end of the insurance period<\/strong>\u00a0in progress when the policyholder opposes the extension, and two months when the insurer opposes the extension.<\/p><\/blockquote>\n

We already know within which period we must serve the writ, but who must notify<\/strong>. It is always the policyholder who assumes the obligation to pay the premium, so it is the policyholder who must sign the cancellation letter. In the case of a private individual, this is not a problem, but what if it is a company? In this case, the person who signs must be a person with powers of attorney granted by the company for this type of procedure.<\/p>\n

Once we have the signed document, what else should we attach to this notification?<\/strong> Always a document accrediting the identity of the signatory, as well as, in the case of a company: the policyholder's VAT number and the identification of the signatory.<\/p>\n

Of course, not all companies are equally demanding in their documentation requirements, however, we collect the most stringent information in case we \u201cbump into\u201d any of the more serious ones in this respect.<\/p>\n

\"Cancellation<\/p>\n

Cancellation media<\/h2>\n

Knowing what to contribute, how do we get it to the company?\u00a0<\/strong>There are many ways to do it, but we will tell you how we do it:<\/p>\n