if the transfer of ownership or possession of the vehicle results from the sale or concession or transfer in any legal way, then the insurance contract is terminated after thirty days from the date of transfer and the company is obliged to return the unpaid premiums of the contract if there are.
If the transfer of ownership of the vehicle results from the death of the owner, then the rights and obligations from the insurance are transferred to the heirs, unless they notify the company within thirty days from the knowledge of the inheritance that they do not accept the inheritance.
The period of thirty days that an insurance is valid, when an owner transfers his vehicle to a third party, is provided by the basic law 489/76 (Government Gazette A ‘331) “On Compulsory Insurance of accidents of civilian cars responsibility “. After this period, the security ceases to be valid.
According to the law, the new owner is obliged from the moment of issuing the registration permit and registration plates in his name, to take out new third party liability insurance for bodily injuries and property damage, otherwise he is uninsured.
In any transfer of ownership or possession of the insured vehicle, the owner should contact the intermediary and his company directly.
