Turkish Insurance Association (TSB) reminded that the 15-day traffic insurance period for second-hand vehicle purchases ends on December 5, 2024, and announced that it has become mandatory for second-hand vehicle buyers to have a valid compulsory financial liability insurance in their name before the sales transaction takes place.
According to the statement made by TSB, it has now become mandatory for vehicle buyers to have a valid compulsory liability insurance in their name before selling a second-hand vehicle.
In the statement, it was reminded that the decision taken by the Constitutional Court, which came into force as of December 5, 2024, made an amendment to the “Regulation on the Execution of Sales, Transfer and Registration Services of Vehicles” published by the General Directorate of Security of the Ministry of Internal Affairs, which is the enforcer of the Highway Traffic Law. It was stated that with this change published on December 4, 2024, it became mandatory for vehicle buyers to have a valid compulsory financial liability insurance in their name before the sale process.
In the statement, which stated that with this regulation based on the decision of the Constitutional Court, second-hand vehicle buyers must have a valid traffic insurance before selling, the following statements were included:
“Sales cannot be carried out by notaries until the insurance policy is entered into the system. It is anticipated that this regulation will make significant contributions to the insurance industry. With the new regulation, the additional premium costs of old vehicle owners arising from traffic insurance, which is valid for 15 days after the sale of the vehicle, will be eliminated.” In addition, the possibility of new buyers being in traffic without insurance will be eliminated and the rights of the old vehicle owner will be protected, based on the justification of the Constitutional Court decision that will come into force on December 5, by the Ministry of Internal Affairs and the Ministry of Justice. “An amendment has been made to the ‘Regulation on the Execution of Sales, Transfer and Registration Services of Vehicles’.”
In the statement, it was emphasized that with this published change, it will be checked whether there is a valid compulsory liability insurance on behalf of the buyer before the sale of the vehicle.
With this regulation made in the regulation on the execution of sales, transfer and registration services of vehicles, it has become mandatory to determine that the persons to whom the vehicle will be transferred have a valid traffic insurance as of the date of sale and transfer. This regulation will make many positive contributions to the insurance sector. The 15-day additional protection period in the old policies will be prevented from driving without insurance and thus the use of uninsured vehicles will decrease. “Confidence is expected to increase.” expressions were used.
In the statement, it was stated that there would be no additional action obligation for the agencies, and that the agencies would only be obliged to cancel the old policy after the sale of the vehicle, and this would ease their workload.
The statement also stated that citizens can obtain their vehicle licenses after the policy is issued, but if the sale or transfer process is not completed, the traffic insurance policy issued in the name of the person who will purchase the vehicle through sale or transfer will be canceled upon the request of the buyer.
The statement stated that the premiums collected on the canceled policy will be returned to the buyer without any deduction, and said, “The Insurance and Private Pension Regulation and Supervision Agency has made the necessary circular amendment regarding this process. Citizens who give up on the sale or transfer will be able to cancel their policies and have their premiums refunded.” “This regulation will enable citizens to drive safely. Previous grievances will be prevented and the use of uninsured vehicles will be prevented.” information was given.
