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Today let’s look at Time Limits for cancelling an insurance policy. In the event that you decide not to renew your current insurance policy with your insurance company, it is necessary to inform your insurers at least one month before the renewal date; the exact date of your renewal will be shown on your insurance documents.
On 1st January 2016, the Spanish law was changed to reflect this new time frame and is reflected in article 22 of the” Ley de Contrato de Seguro” in which it states that the insured can oppose the extension of the policy in writing one month before renewal expressing that they do not wish to renew the policy and attaching a copy of their ID.
Although the period of time has changed for the client requesting a cancellation the insurance companies still have to notify the insured two months before renewal date should they wish to cancel a policy or make any changes to the policy.