mikeglover

My building insurance policy expires early April. It is with Vitalicio Seguros and the broker appears to be RED BROKERS. We inherited the policy from the previous owners and there is nothing in the cover notes or policy docs to suggest how I can inform them that I do not wish to renew at the next renewal. I could simply cancel the annual standing order but have read somewhere that these brokers can still pursue you for another year's premiums. I would welcome any advice as to how I might proceed, especially from anyone who has had dealings with RED BROKERS on similar matters and maybe has an email address for them. I am afraid that my knowledge of Spanish is pretty abysmal and therefore am not confident enough to ring them and expect that my cancelation would probably be better in writing anyway. many thanks, in advance, for any helpful suggestions

Rosemary

Many insurance companies insist on two months notice for cancelling a policy. I know nothing about your company so unable to help, sorry.

Rosemary

Fred James

I recently cancelled two house insurance policies and it was essential to give two months notice so it looks like you may be too late.

Fredbargate

Redbrokers - Seguros - Plan de ahorro - Plan de jubilación

Possibly their website?

bobd22

When I cancelled a life policy I was told must be in writing (email) and notice must be given 2 clear months before renewal. The girl who gave me this information also said cancel your direct debit now , I did. I gave more than 2 months notice through the solicitor who acted as the agent for insurance exactly as advised. 2 weeks after renewal date got an email saying direct debit had not been honoured! I wrote back and said yes because I cancelled it when I informed you as agent I didn't wish to renew! Never heard anything back.

mikeglover

Many thanks to all who replied to my query. I will allow the policy to renew but, this time, I will make a note in my calendar, three months prior to the next renewal to definitely contact the broker and cancel the policy with at least 2 month's notice. I will also endeavour to resume my Spanish lessons so that I can have a bash at ringing them myself.

Fredbargate

Why not contact them?
They may have a more enlightened policy.
Not all companies operating in Spain are so backward
Ibex for example allow you to cancel at anytime during the policy not only at renewal

jonboy

I cancelled my buildings insurance by stopping the direct debit just prior to the renewal date. This meant I had paid all my premiums for that year of the insurance policy. The outcome was that they wrote to me and said if I did not continue to pay I would not be covered! Over the next 18 months I received letters from what appeared to be debt collectors, advising me to pay or action may be forthcoming, none ever did.
The gist of this is that you have a yearly contract for the insurance and if you wish to stop the cover before the full term you should/must give 2 months notice. Once the year is up you do what you want.
I was insured with Grupama Seguros.

jonboy

Just to add, the insurance policy would most likely say it is a yearly policy and that you pay a yearly premium thus at the end of the year you let it run and they charge you a new increased premium, or you tell them no more! The most effective way of expressing this is to cancel the direct debit. I fail to see how they can pursue you for more money, in a legal way.

Rambling Rose

All spanish insurance (House, health, car etc) seems to require 2 months written notice to cancel. Like many others we didn't know this when we first arrived here. Our car insurance was pretty steep in the first year - for ease we took it out through the dealer when we bought the car. Once we got internet access we shopped around and took out something much cheaper when the renewal was due.
We didn't cancel the first policy so of course they just took the premium from our bank account when it was due. We went down to the bank and they cancelled it and took the money back on the spot. We emailed the insurance company explaining we hadn't known and they were fine with it.
I tried to cancel a health insurance policy with only 6 weeks notice once and they gave me a 15% discount undercutting the company I'd planned to move to.

Fred James

Car insurance seems to be the exception.

Certainly, Linea Directa, do not require 2 months notice.

Rosemary

I think that it probably depends on the company, I had to give two months notice when I changed mine over and my new ones said that it was normal.

Rosemary

Fred James

Ultimately it depends on the details of the contract that you have with the insurance company.

From my experience, the insurances on my house have a two month clause but my car insurance does not.

If in doubt, read your policy.

Fredbargate

For how long after you have died are you required to keep paying life insurance in Spain?

missile

I would suggest you ask at your bank. My manager is really helpful when sorting out things financial. Yours may not .......