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Car insurance termination, how does it work?

How does the termination of a car insurance? There are three ways of cancelling a car insurance policy:

1 The car has been sold but you expect to buy another car in the near future

In this case, it is advisable to suspend the car insurance cover. This means that the car insurance has not been cancelled, but that it is temporarily not covered. If you then wish to insure another car later on, you do not have to submit a new application but it is simply a change to your existing car insurance.

cancelling your car insurance: how does it work?

2. The car has been sold but there will be no other car for the time being.

In that case, you can choose to temporarily suspend the insurance anyway. (You can also choose to cancel the car insurance. This often involves cancellation costs. Another disadvantage is that the claim-free years you have accrued are only valid for one year from the moment you terminate the insurance policy.

3. The car has not been sold but is in storage for a long time

Then you can suspend the car insurance cover as in example 1. However, it is important that you suspend the vehicle registration AND remove the car from the public roads.

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