Based on market estimates, about 120,000 automotive homeowners canceled their obligatory insurance coverage, which expires on the finish of the 12 months by December 1, and should signal a brand new insurance coverage contract by midnight on December 31, the Hungarian Affiliation of Unbiased Insurance coverage Brokers (FBAMSZ) reminded in an announcement despatched to MTI. .

The affiliation provides that though a lot of the motorists involved had already taken motion on the brand new insurance coverage similtaneously the November dismissal, hundreds of policyholders will solely accomplish that in December, primarily based on expertise from earlier years.

Anybody who fails to enter into a brand new contract might be left unsecured from 1 January and, along with taking a critical danger,

you may be compelled to pay a a number of of the conventional payment in arrears in accordance with the foundations on the unsecured payment.

Based on Lajos Papp, the chairman of the motorcar part of FBAMSZ, it’s advisable to comply with the destiny of their contract even when those that took well timed motion on the brand new contract however didn’t obtain suggestions on the conclusion of the contract from the insurer or the middleman dealer.

Motorists who change their contract have the chance to pay the primary installment till March 1, whereas prospects staying with their insurer should settle the insurance coverage premium in accordance with the conventional process, by the top of January on the newest.