How to surrender vehicle insurance

Auto insurance surrender processes are as follows:

1. The insurance company's business handling department issues the surrender approval form, and the insurance company issues the surrender approval form according to the surrender application, indicating the surrender time and the amount of premium to be refunded, and at the same time recovering the auto insurance policy;

2. The insurance company calculates the refundable premium by deducting the premium paid by the insurance company within the time when the insurance has taken effect, and the remaining balance is the refundable premium.

What documents are required for surrender?

1. application for surrender: specify the reason and time of surrender, and the insured shall be stamped if it is an institution, and signed if it is an individual;

2. Insurance policy: the original is required. If the insurance policy is lost, it must be reissued in advance;

3. Insurance invoice: the original is generally required, and sometimes a copy is also acceptable;

4. Identity certificate of the insured: the insured needs the business license of the company or the personal identity card;

5. Documents proving the reasons for the handover:

(1) If the vehicle is scrapped and surrendered, provide the scrapping certificate;

(2) If the vehicle is resold to others, a certificate of transfer shall be provided;

(3) If double insurance is surrendered, two duplicate insurance policies shall be provided.

Legal basis: Article 14 of People's Republic of China (PRC) Insurance Law.

Unless otherwise provided by this Law or the insurance contract, the applicant may terminate the insurance contract after it is established.

Article 15

Unless otherwise stipulated in this Law or in the insurance contract, after the insurance contract is established, the applicant may terminate the contract, and the insurer may not terminate the contract.