Insurance policies are mostly annual and automatically renewed. The customer has the right to refuse.
Renewal Process
- The insurer makes a notification 30 days before the maturity date
- The new premium amount is stated
- The customer can object or refuse
- If he remains silent, it will be renewed (according to the policy)
Right to Refuse
- The customer can always refuse
- 30 days notice before renewal recommended
- If rejected, the policy expires at maturity
Excessive Price Increase
- Can be understood if the no-claims level has decreased
- Otherwise, right to object
- Consumer arbitration committee / court
Early Cancellation
- Customer can cancel the policy within its period
- Premium for the unused period is refunded (proportionate)
- The insurer may make certain deductions (within the limits of the law)
Supreme Court 11. HD
11. HD accepts that it will be considered "unfair practice" if the insurer makes the customer suffer by making "automatic renewal" conditional.
Practical Recommendations
- Put the renewal date on the calendar
- Make a price comparison (at least 3 insurers)
- Review if the need has changed
Insurance law lawyer recommended.