Is your insurer trying to persuade you to switch to direct debit?

If so, you may find yourself LOCKED into a continuous contract of insurance which may cost you much more than you are saving!

Believe it or not, when your policy comes to an end, you can’t simply decide not to renew it should you find a better alternative more suitable to your needs. If you want to get out of your insurance contract there is a rigid process of cancelation you must follow.

You should be aware that when taking out an insurance policy that under Spanish insurance law, the Insurance Contracts Act (“ICA”) sets out the basis on which you can cancel your insurance policy. Article 22 of the ICA says that if you wish to cancel your insurance policy you must provide your insurer with:

“2 months written notice in advance of the expiry date”

Your policy wording may also set out other limitations on cancelling your policy so you should read the terms and conditions carefully. If you are unsure, you can ask one of our customer service advisors to assist you.

There have been numerous occasions recently where clients have decided not to renew with their current insurer and wanted to move to a more suitable insurer.

HOWEVER, because the client was unaware of the need to provide 2 months written notice, the insurance company has refused to accept the cancellation. We have received reports of clients receiving letters from debt collection agencies and letters threatening court action if the policy is not paid.

We would like to assure you that:

Expats-online or Ibex will never enforce this unfair law upon any of our clients

............and you can therefore be safe in the knowledge that we will review your requirements at renewal, and endeavour to give you the best cover at the best price, without forcing you to do anything that you don’t want to.

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