Policy Change Request
You may consult with your Financial Advisor or Call Us at (+632) 8 5815-AXA or Chat with an AXA Representative to assist you on your request.
Does AXA have cancellation fee?
Like most car insurance companies, AXA won’t give you any refund on your car insurance if you’ve made a claim. But you’ll still have to pay a cancellation fee. And if you pay monthly for your car insurance, you’ll need to pay up for the rest of the policy when you cancel.
What do I do if I want to cancel my car insurance?
Call your insurer, tell them you no longer own the car and you want to cancel your policy. They should send you a copy (whether paper or via email) of your no claims bonus, which stays valid for 2 years. Make sure you keep your no-claims bonus proof somewhere safe.
Is it free to cancel car insurance?
You should get a refund of any premiums you have already paid. However, your insurer may take off a small amount to cover days when the policy was in force. They may also charge you a small administration fee. Some insurers may give you a longer cooling-off period.
How do I cancel my AXA insurance policy? – Related Questions
Can I cancel car insurance at any time?
Can I cancel my car insurance policy after making a claim? Yes – you can cancel your policy at any time.
Will Cancelling my car insurance affect me?
With most car insurance policies, you’ll probably lose your no-claims bonus for that year if you cancel your policy. So if there’s not long left on your policy, and depending on how big your no-claims bonus is likely to be, it might make more sense to hold off on cancelling.
How much does it cost to cancel car insurance?
Your provider takes out a cancellation penalty fee from your refund for cancelling early. Make sure you know which method your company uses when considering your options. These fees are generally between 2-7% of your premium.
Can I cancel my car insurance if I pay monthly?
Can I cancel my car insurance if I pay monthly? Yes. Plenty of people choose to pay their car insurance monthly, and there’s nothing to stop you from cancelling. Just tell your insurance provider that you want to cancel and they’ll arrange it for you.
Do I get a refund if I cancel my insurance?
If I cancel my auto insurance, will I get a refund? If you paid your premium in advance and cancel your policy before the end of the term, the insurance company must refund the remaining balance in most cases. Most auto insurers will prorate your refund based on the number of days your current policy was in effect.
Do I need to cancel car insurance when switching?
Remember to cancel your old auto insurance policy
It’s typically your responsibility to cancel coverage with your previous insurer. Your new insurance company can provide proof of insurance to your old company if necessary, but they generally aren’t authorized to cancel a policy with another insurer on your behalf.
Can I transfer my car insurance to another company?
Yes, it is possible to transfer your motor vehicle insurance policy. To do so, you will have to inform the insurance company in writing. They will ask you to fill in a fresh proposal form and charge some fee to carry out the transfer process.
Can I get a refund on my car insurance if I sell my car?
Can I get a refund on my car insurance? The most common reason for cancelling a car insurance policy is because a car has been sold, and if, as is likely, you are mid-way through the policy, you will be entitled to a refund.
How do I transfer my insurance from one company to another?
- Write to your old insurance company requesting a shift.
- Specify company to which you want to shift the policy.
- Renew your policy without a break (there is a 30 day grace period if porting is under process)
Can I port my group insurance policy?
The members of an indemnity based group health insurance scheme offered to account holders of a bank are allowed porting of their health insurance coverage to another indemnity based group health insurance scheme offered by a different insurer to the account holders of the same bank.
Can I port my term insurance?
As per the existing IRDA rules, only health insurance policies are transferable from one insurance company to the other. Term insurance portability is not allowed.
What are disadvantages of porting health insurance?
Disadvantages of Medical Insurance Portability
No significant policy change – Policyholders cannot move to policies which are totally different. They can port to only similar types of policies. Higher premiums – Additional benefits could mean higher premiums, which can erase any monetary benefit.
What are the benefits of porting?
Credit for waiting period: The biggest advantage of porting is that the insured gets to carry over the ‘waiting period’ on pre-existing diseases and time-bound exclusions that have already been completed with the current insurer, provided there have been no gaps in policy renewal.
What does porting a policy mean?
What Do Portability and Conversion Mean? Portability allows eligible insured employees to “port” (or buy) Group Life insurance coverage because their employment is being voluntarily or involuntarily terminated. Dependents coverage may also be continued.