An insurance contract can be modified if it has shortcomings. This initiative can be taken by the insured as well as by the insurer. Read this article to understand how this is done.
The insured orders the modification of the insurance contract
The insured has the right to order the modification of the insurance contract. Indeed, you have the possibility to order the modification of the deductible, to add or remove a guarantee. The process of modification by the insured always starts with a request. This request for a change is sent to your insurer. And to make it easier for you, you should go to the insurance agency.
However, to formalise the process, it would be better to send your insurer a registered letter. This letter should indicate the type of change you want to make. It would also be a good idea to give your insurer the reasons for the change in the contract.
After sending the letter of recommendation, you must wait for your insurer’s reply. According to the law, your insurer must reply within 10 days of sending the letter. If there is no reply, the law considers that the insurer has approved your request.
The insurer orders the modification of the insurance contract
The insurer may choose to modify the insurance contract. Indeed, the insurer may want to insert a guarantee exclusion in the contract. But this is not possible without the consent of the insured. The policyholder must give his consent before the contract is amended.
And for mutual consent, the insurer must send an e-mail or letter to the insured. The insured must indicate everything that the insurer wants to change in the contract and the reasons for the changes.
However, the insured may refuse the insurer’s request. In this case, the insurer must wait until the expiry date before changing the contract.
The policyholder can draw up a new quotation with the insurer
The best way to change your contract as quickly as possible is to draw up a quotation with your insurer. This can be done easily using a comparison tool. This method allows you to compare several insurers in order to see other interesting offers.
However, if this method still does not work, you should contact your advisor. He or she will be able to help you get some benefits from the same insurer.
Remember that there are additional costs involved in changing the policy.