cancel car insurance if there is a price increase?

Finance, Taxes, Banking, Insurance and Retirement
1
hi all,

i have heard that if your vehicle insurance increases at renewal time you are able to cancel it... can anyone shed some light on this?

the cheeky gits at zurich have sent me a bill for 1300 but the quotation system on the site throws a figure of 900 for the same details and cover.

i would like to tell them to stick it.

2
call them and am sure they will sort it out.

3
my experience with zurich is they lie to you, so i would prefer to have the facts than rely on what they tell me

4
Hi

I have a car insurance with Zurich connect that ends in August 2012. The insurance company refused me Voll Kasko option saying that my car is >10 years old. However, other insurance companies are ready to give me that option ...

my actual insurer (zurich connect) says that I cannot leave the contract until Aug 2012 ...

Is there a possibility to cancel the actual car insurance before the contract term ends ...

Thanks

Ashish

5
they told me if you sell the car the policy would be cancelled

6
found this in the T&C's:

"

When does the insurance cover end?

if Zurich changes the premium. In this case the notice of termination must reach Zurich no later than the last day of the insurance year;"

No difinition of the insurance year though.

7
Yes, but why would you want it?

I generally cancel full casco on stuff older than 5 years or so, and partial on 10+.

Tom

8
The price that one pays for full casco is far less when something terrible happens to a car, whose residual value is quite significant. The question is not why I need full casco, but how to quit the insurer before the contractual term who refuses to give full casco ...

9
Easy.

A) Sell the car to your wife/friend, then buy it back.

B) Take the car off the road for more than one year (easy if you have more than one).

Tom

10
However, most cars with 10+ years have little to no residual value.

I have a motorcycle with a book value of CHF 47k, but if I wasn't at 35%, and also kept on the road only 6 months of the year, there is no way I'd fork out the money for full collision!

Tom

11
Yes, you can cancel car insurance if they increase the premiums.

In fact, you can cancel any insurance under the LCA/VVG law - e.g. car insurance, liability, contents, health supplementary etc.

N.B. You can only cancel it if it is a true increase and not a change in the cover.

e.g. say the premium for the third party on your car is 1'000.- and you're at 40%.

You'll pay 400.- in premiums.

The following year, let's say you've had a claim on your insurance or similar and when you receive your new premium notice, the premium has increased to 500.-.

Normally you could cancel it however, on closer inspection, you see that the premium for the third party is 1'000.- but your % has changed to 50%.

Therefore, despite the fact that you're paying more, the premium hasn't actually increased.

This happens more commonly with contents insurance as some companies will increase the sum insured slightly every year (as they consider that the majority of people will have bought something in that last year and their insurance sum will have to increase in line with this). Therefore the premium that you pay will increase although the actual premium hasn't increased.

Does that make sense?!

12
Not really. Surely you can cancel any policy at it's end of term?

I'm with Zurich, and after a quick check on Comparis, the cheapest quote for my insurance was about CHF1000 less (for equivalent cover, from what I can see).

So next Feb at the end of the policy I intend to change to someone else, unless Zurich come down a bit.

Am I going to get a problem with that?

13
Yes, of course you can cancel at the end of term but this is another question.

Be sure what you're looking at on Comparis - especially with car insurance as some of the low offers have high deductibles, don't include some things that the others do etc. Make sure you're comparing like for like!

If your policy is up in Feb 2012, then you still have to give them 3 months notice - i.e. by the November 2011

14
I have had insurance with Zurich for 16 years, their profit to date is approx 90% of total premiums paid. I was therefore a little surprised when they increased the cost by just over 100 chf this year (policy expires 2014). Zurich Connect will give me cover & all documentation in English for 150 chf less!

Happy to change as my broker does not speak English & will not communicate in English.

15
My sister has had problems with ALL the following insurance companies not wanting to pay up. This is to do with Accident basic SUVA , Accident semi private Intras /CSS , Orion legal protection insurance. ALL refusing to pay up when they are legally obliged to. They lie, they will not converse in English ( even though the policy is in English),they put the phone down on you, they try to pull the wool over your eyes and you will only get anywhere if you challange them with either a lawyer, or as I did by compiling my own legal appeal for refusal of payment for 1 insurance company ( which i won ) and a legal arbitration case i had to prepare myself for the right to continue using a legal protection policy( still pending which we had to pay for to file).

As far as i am concerned they are ALL crooks! I myself have also had problems with Zurich insurance not wanting to pay up on a claim. Again trying to pull the wool over my eyes.

You have to be protected by insurance by law in this country and that goes for most things , but in my experiences there doesn't seem to be any accountability, they just do what they want even if its against the law, and its for you to prove they are wrong! They seem to regulate themseves depending on which way the wind is blowing and i beleive colour of passport you hold.

Bloody insurances! I'll be so glad to get away from it all ! What a nightmare its been!

16
Well, this is actually why I am with Zurich in the first place.

Being a foreigner, I thought I'd go with the 'best' to be safe in the knowledge I wouldn't get into this kind of situation.

That said, when a cow blundered into my car, they had the car repaired and resprayed tout de suite, and the workmanship was absolutely perfect.

17
Thanks for that, I'll call them and see what they say.

18
You might want to ask Zurich Direct, cheaper than Zurich & they can effect the change 'in house'

19
What about price increase due to moving to another city? Can I cancel the insurance because of this? My insurance refused to do so, it's very annoying. Can they really force me to pay more and stay with them?

20
The only way to cancel your insurance, is to de-register the vehicle.

Tom