The revision to the insurance act has many benefits for you as a customer and applies to all private insurance contracts. For example, it applies to third party liability insurance, legal protection insurance, vehicle insurance and health and accident insurance. It does not apply to basic health insurance, however.

6 key changes and benefits for you

1. 14-day cooling-off-period for policyholders
2. Ordinary right of cancellation after three years
3. Unilateral right of cancellation for health insurance in the event of a claim
4. Limitation period extended from two to five years
5. Electronic communication
6. General direct right to make a claim for all third party liability insurance

1. 14-day cooling-off-period for policyholders

If you take out an insurance policy, you now have 14 days within which you can cancel it. The 14 days start from the date that you sign the application. When cancelling an insurance contract, the date on which the cancellation notice has been sent (as opposed to the date it is received) will determine whether it still falls within the 14-day period. We recommend sending the letter by registered mail so you are able to prove that you met the deadline.

• Example: You signed an insurance application on 4 January 2022. The cancellation period starts on this date. This means that you have until 18 January 2022 to send the cancellation letter to the insurance provider.
• Good to know: The insurance provider is obliged to notify you of this right of cancellation. If you are not made aware of your right of cancellation, or if you are only made aware of it after the 14-day cancellation period has expired, you have four weeks to exercise your right from the date on which you are made aware of it.
  
  

2. Ordinary right of cancellation after three years

All insurance contracts can now be cancelled after a three-year term of contract and during every subsequent year. This is the case even if a longer term of contract has been agreed without a right of cancellation. The notice period for cancelling a contract is three months. Cancellation must be made in writing or in another form that constitutes written proof. 

• Example: You took out a health insurance contract with a term of five years on 1 November 2019. You can cancel the contract from 31 July 2022 with effect from 31 October 2022, as the contract has been in place for more than three years.
• Good to know: The right to cancel after a three-year term of contract also applies to contracts concluded before 1 January 2022.
  

The parties may also mutually agree to a shorter term of contract and a shorter period of notice. However, the period of notice must be the same for both parties.
 

3. Unilateral right of cancellation for health insurance in the event of a claim

Sometimes, your health insurance provider may cancel a supplementary insurance after you made a claim that the health insurance provider then paid for. This is referred to as “Cancellation in the event of a claim”. From now on, only policyholders can cancel insurance in the event of a claim. This means that only you as the customer can cancel your insurance policy if you report a claim. The health insurance provider can no longer cancel in this case.

• Example: You have supplementary insurance cover for alternative medicine. You ask your health insurance provider to reimburse you for these kinds of alternative medicine sessions. Your health insurance provider reimburses you for them. You now have the right to cancel the policy. Check the period of notice in the General Policy Conditions first. If there is no mention of this, you can cancel on payment of the compensation at the latest. However, your insurance provider will not be able to cancel the policy after you made a claim, as used to be the case.
   

4. Limitation period extended from two to five years

From 1 January 2022, it is possible to make an insurance claim up to five years after a claim event.

• Example: You accidentally cause damage to a flat that you rent. From the date on which the damage is caused, you now have five years to report the claim to your insurance provider for them to cover the costs of this.
• Important: This does not apply to collective daily sickness benefits insurance. The limitation period for this is still two years. Events that occurred before 1 January 2022 are also still subject to a two-year limitation period.
   

5. Electronic communication

In future, notifications can be sent electronically and no longer need to be sent by letter and signed by hand. It is also no longer necessary for you to sign contractual documents. You can simply send an e-mail if you want to cancel your insurance, for example.

• Good to know: This also applies to contracts concluded before 1 January 2022.
   

6. General direct right to make a claim for all third party liability insurance

If someone causes you damage, you can approach that person’s third party liability insurance provider directly for compensation.

• Example: You lend your smartphone to a friend. Your friend drops it and it breaks. You can contact your friend’s third party liability insurance provider directly to be compensated for this damage.
  

To ensure you can exercise your rights quickly and easily, we have created a number of different letter templates for you. They are all easy to download and use.