Modify your auto insurance contract
Reasons for modification by the insured
The insured can request that his auto insurance contract be amended. Here are the different things it can change:
Addition of a guarantee;
Removal of an exclusion of warranty;
Modification of the deductible;
Modification of the compensation ceiling.
From the moment the insured has requested a modification in his contract, the insurer has ten days to indicate whether he accepts these changes. A lack of response or a late response is equivalent to an agreement under the Insurance Code.
Modify the contract for increased risk
The insurer can also request a modification of the contract if it considers that the risk during the subscription has changed. When a change in your life situation occurs, you must report it to your insurer.
Too much aggravation of the risk may encourage auto insurance to terminate the contract, or simply change it. In this case, there are three possibilities:
He does not modify the contract but makes an amendment;
He wishes to modify the contract, you have three days to give him your answer;
He decides to terminate you.
Notify the insurer in the event of a change of situation
Some motorists only imagine declaring a change in circumstances when it works in their favor. However, these are all the modifications likely to modify the insured risk that it is necessary to report: moving, secondary drivers, conversion of the vehicle, etc. Omitting this information is akin to a major fraud that could lead to an increase in the insurance premium. , or even the outright termination of the current auto contract.
The driver has 15 days to communicate by registered mail any new circumstance worsening his level of risk. If, on the contrary, the change results in a reduction in risk, the period is extended to 3 months. It is then up to the insurer to adjust the amount of the insurance premium up or down.
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New contract or amendment to the insurance contract?
An endorsement is a document that is added to the insurance contract to take into account any change that may occur from what is noted in the initial contract. The rider represents proof that the original contract has been updated. It allows the contract not to be completely rewritten again.
A change in circumstances does not necessarily mean writing a whole new insurance contract. It is up to the insurer to choose between a new contract or a rider. In all cases, a signature from the insured will be required.
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