There are different options for terminating the traffic insurance, changing or pausing it.
Termination of the ordinary insurance contract
An ordinary traffic insurance contract is entered into for an unspecified term, and it terminates when a new insurance contract is entered into at the new insurance company, the vehicle has been deleted from the register, the new owner entered into a contract on their own behalf, or the vehicle has been stolen and the police have issued a relevant document about the theft of the vehicle.
Termination of the traffic insurance policy
A policy holder has the right to terminate a valid traffic insurance policy if their vehicle is not used on public roads and to get back the insurance premium for the period during which the insurance has not been used. In order to terminate the policy, the owner of the vehicle or the leaseholder has to submit a written application to the insurance company or to an IIZI sales office during their working hours by submitting it in person or by e-mail. In the application, you should indicate the registration number of the vehicle, the date of termination of the policy, and the bank account number to which the remaining insurance premium should be transferred. If the vehicle is leased, in order to terminate the traffic insurance policy, you should submit the document proving the exemption from payment issued by the leasing company. After the right of ownership to the vehicle has been transferred to a new owner, the previous owner cannot terminate the policy.
Termination of the traffic insurance policy as a result of the transaction of sale or purchase
Pursuant to legislation, after the re-issue of the registration certificate of the vehicle the insurance premium remaining from the previous owner is transferred to the new owner. The traffic insurance policy should be terminated BEFORE the sale or the purchase transactions, which will enable the previous owner to get back the insurance premium remaining from the old policy.
Changing the insurance company
The policy holder has the right to change the insurance company at any time. If they do that, the contract that was entered into with the previous insurance company terminates by default from the moment when the contract entered into with the new insurance company comes into effect. If the policy holder wants to change the insurance company within the term of validity of the existing policy, a written application for the termination of the policy should be submitted.