Car insurance termination, how does it work?

How does discontinuing a car insurance? There are three options when discontinuing a car insurance policy:

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

In this case, it is advisable to suspend car insurance coverage. This means that the car insurance is not cancelled but temporarily no car is covered on it. Then when you later wish to insure another car, you do not have to submit a new application but it is just a change on your existing car insurance.

car insurance termination: how does it work?

2. The car has been sold but there will not be another 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. However, this often involves cancellation costs. Another disadvantage is that the claim-free years you have built up are only valid for 1 year from the moment you cancel the insurance.

3. The car is not sold but is going into storage for a long time

Then you can suspend car insurance coverage as in Example 1. Important though is that you suspend the license plate AND take the car off the public roads.