You should definitely do this when selling a car

12:21 - 30.05.2023

May 30, Fineko/ When selling a car, it is proposed to terminate the contract of compulsory car insurance.

ABC.AZ reports that expert Vusal Badalov said that if the insurance contract is not terminated during the purchase or sale, and the buyer subsequently gets into an accident on this car, the insurance history of the previous owner will be spoiled.

In other words, the previous owner of the car will have to overpay the next time he closes compulsory insurance.

The expert noted that not only when selling, but also if the vehicle is not used for a long time or completely becomes unusable during an event, the insurance contract can also be terminated. Moreover, the insurance company must deduct the money for the insured days from the total amount and return the balance to the owner.

Badalov added that it is possible to terminate the CASCO insurance contract ahead of schedule. The remaining amount can be repaid or used for a CASCO contract for another person's car.