Changes in Mandatory Insurance: Easier Termination for New Owners
The new law simplifies rules for mandatory insurance, like vehicle liability and agricultural insurance, when ownership or possession changes. It allows new owners or possessors to more easily terminate insurance contracts by specifying a termination date, providing greater flexibility and control over their obligations.
Key points
When buying a vehicle with existing liability insurance, you can now terminate the insurance contract at any time, specifying a termination date that cannot be earlier than the date of termination notice.
Similar rules apply to farmers' liability insurance and agricultural building insurance – the new possessor of a farm can terminate the contract at any time, with a chosen termination date.
These changes provide greater flexibility in managing insurance policies after taking over a vehicle or farm, eliminating automatic contract renewals if not needed.
59%
VOTING RESULTS
2025-08-05
For
258
Against
0
Abstain
179
Status:
Enacted
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