What are the cases in which you are entitled to reimbursement of car insurance already paid? Let’s see how the counting of the amount works.
Car liability is a compulsory insurance for all vehicles on the road. But what happens in the event of theft or scrapping before the policy expires? Here is a guide to IVF car insurance reimbursement in cases where it is required by law.
Car insurance reimbursement: what does the Civil Code say?
The policies RC cars, mandatory for all vehicles, typically have an annual or semi-annual period (sometimes monthly ).
But what if you no longer need insurance coverage before it expires? Is it possible to obtain reimbursement in whole or in part of the insurance premium paid in advance?
The answer to this question can be found in the Civil Code, in art. 1896 – Cessation of risk during insurance :
The contract is dissolved if the risk ceases to exist after the conclusion of the contract, but the insurer is entitled to payment of the premiums until the termination of the risk is communicated to him or otherwise becomes aware of it. Premiums relating to the insurance period in progress at the time of communication or knowledge are due in full.
Therefore, the cases for which a refund can be requested and obtained are:
- vehicle sale;
- export of the car abroad.
In all these cases it is necessary to immediately notify the insurance company, to start the reimbursement procedure from the date on which the event occurs.
To initiate the request you must forward it to the company in the manner provided. There are several alternatives:
- in person at the reference offices;
- by registered letter with return receipt;
- via Certified Electronic Mail (PEC);
- directly online on the company’s website, if the appropriate form is provided.
You must attach the necessary documentation to the request, for example, the report to the police in case of theft.
Car insurance reimbursement in the event of the death of the insured
There is a particular case and it concerns the death of the insured. The heirs are entitled to a refund even if they decide not to sell or scrap the vehicle. This is because the insured is the deceased person who will no longer be able to take advantage of the coverage.
Car insurance reimbursement: how the amount is determined
The calculation of the redemption amount is quite simple.
You need three data:
- the amount paid for the policy;
- number of days of validity of the policy (usually 365 or 180, depending on whether it is annual or semi-annual);
- the number of days the coverage has been in use.
You must divide the amount by the days of validity and then multiply the daily quota thus obtained, by the residual number of days for which coverage is no longer necessary.
The amount thus obtained will be refunded to you, obviously net of:
- any penalties provided for in the contract in the event of a refund request;
- reimbursement management fees.