Article 8. Change of Owner of Insured Motor Vehicle or a State Number Plate

1. Where the owner of an insured motor vehicle changes, the policyholder has forwarded the documents certifying the conclusion of an insurance contract to the new owner of motor vehicle, in this case, the new owner of the motor vehicle shall take over the policyholder’s rights and obligations under the insurance contract and shall, without delay but not later than within 15 days of transfer of motor vehicle ownership, notify the insurer in writing thereof and submit his personal data. Upon notifying the insurer about the transfer of motor vehicle ownership, the insurer shall enjoy the right to increase or reduce he insurance premium because of the change in the insurance risk, and the new owner of the motor vehicle shall enjoy the right to request to reduce the insurance premium. If the new owner of the motor vehicle fails to notify the insurer about the transfer of motor vehicle ownership within the set time limit, the insurer may treat it as failure to fulfil the obligation of notifying about the change in the insurance risk.

2. The new owner of the motor vehicle shall also have the right to terminate the insurance contract in accordance with the procedure established in paragraph 1 of Article 7 of this Law. If the new owner of the motor vehicle, who has an insurance contract or an insurance certificate terminates the insurance contract, he shall be reimbursed for the portion of the insurance premium related to the remaining period of validity of the insurance contract.

3. The provisions of this Article shall also apply in the situations where, after the death of the policyholder, the motor vehicle is transferred to another legitimate user. The new user of motor vehicle must within 15 days notify the insurer about the takeover of use of the motor vehicle and submit his personal data.

4. Where the state number plate of an insured motor vehicle changes, the policyholder must, without delay but later than within 15 days after the change of the state number plate, notify the insurer in writing thereof. If the policyholder fails to notify the insurer about the change of the state number plate within the set time limit, the insurer shall be responsible for all the consequences arising from the fact that because of the changed state number plate it was impossible to identify in time the insurer or to evaluate the insurance risk.