Clear instructions on how to prematurely terminate an insurance contract
Early termination of an OSAGO policy is your legal right as a policyholder. However, it's important to understand that monetary refunds are only possible under certain circumstances that are stipulated by legislation and insurance terms.
Important to remember: The termination procedure will take no more than 14 calendar days from the moment all necessary documents are submitted. The refund amount is calculated proportionally to the unexpired term of the policy.
Important to know: When terminating an OSAGO contract early at the policyholder's initiative, according to Article 155 of the Law of the Republic of Uzbekistan "On Mandatory Civil Liability Insurance for Vehicle Owners," the insurer has the right to withhold from the refunded amount their proven contract expenses in an amount not exceeding 25% of the paid insurance premium.
According to the terms of EUROASIA Insurance's public offer, a partial refund of the insurance premium is possible in the following situations:
If the use of your vehicle has been prohibited in the manner established by state authorities
When the vehicle has become unsuitable for further use (e.g., after a serious accident)
Upon sale, gift, or any other alienation of the vehicle to a new owner
The refund amount is calculated proportionally to the number of days remaining until the policy expires. For example, if 6 out of 12 months remain until the policy expires, 50% of the paid premium will be refunded.
There are cases when a refund for the unused period is not made. It is important to know this in advance to avoid disappointment:
Remember: honesty when issuing a policy not only ensures its validity but also guarantees your right to a refund if necessary.
For successful termination of the contract and refund of funds, a complete set of documents must be provided. The absence of any of them may delay the process:
Application for termination
Must be signed by the policyholder by hand. A sample can be downloaded via the link
Identity document
Passport or policyholder's ID card
OSAGO policy number
If available (if the policy is lost, indicate this in the application)
Bank details
Full account details for transferring the refund amount
Documents confirming the basis
Depending on the reason for termination (see details below)
Upon change of owner: sales contract, gift deed, or other document confirming the transfer of ownership
Upon unsuitability of the vehicle: document confirming impossibility of further operation (e.g., disposal act, traffic police certificate of complete destruction)
We have made the termination procedure as convenient as possible. You can choose the most suitable method for you:
The fastest way: Go to the "My Policies" section in your personal account on the website or in the EUROASIA Insurance mobile app
Personal assistance: Call our 24-hour call center at 1174. Our specialists will help you fill out the documents
Day 1: Submitting application and documents
Up to 3 days: Review of documents and verification of grounds
Up to 14 days: Transfer of funds to the specified bank account
Useful option: Upon your request, the refund amount can be credited towards payment of a new OSAGO policy with our company. This is convenient when changing vehicles.
The right to early termination of an OSAGO policy and a refund of part of the insurance premium is clearly established by the legislation of the Republic of Uzbekistan:
Main Law: Law of the Republic of Uzbekistan "On Compulsory Insurance of Civil Liability of Vehicle Owners" (ZRU-155 dated 21.04.2008)
Key norm: "In case of early termination of the compulsory insurance contract due to a change of vehicle owner or prohibition of vehicle use in the prescribed manner, or its unsuitability for further operation, a part of the insurance premium shall be refunded to the policyholder in an amount proportional to... the remaining period of validity of the contract"
Subordinate acts:
Legal protection: These norms provide legal protection for policyholders and guarantee fair compensation when established conditions are met.
For representatives:
If the application is submitted by a representative and not the policyholder themselves, a notarized power of attorney is required, granting the right to terminate the insurance contract and receive a premium refund.
We recommend applying for termination as soon as possible after the grounds arise. This will help avoid possible complications and ensure you receive the maximum refund amount.
Our specialists are always ready to help you
Yes, you can terminate your OSAGO contract early in the following cases: •Upon change of vehicle owner •If the vehicle becomes unsuitable for further use •If the use of the vehicle is prohibited in the prescribed manner The refund of funds is made proportionally to the unexpired period of the policy. However, it is important to know that, according to the Law of the Republic of Uzbekistan No. ZRU-155, the insurer has the right to withhold its demonstrable expenses from the refunded amount, not exceeding 25% of the paid insurance premium.
The review of the termination application and the refund of funds are carried out within 14 calendar days from the date the insurer receives a complete set of necessary documents. If the documents are not submitted in full, the period begins to run from the moment all missing documents are provided. Funds are refunded to the bank account specified in the application.
The basic package of documents includes: •Application for termination of the contract (filled out at the office or in your personal account) •Original OSAGO policy or a certificate of its loss •Policyholder's identity document •Bank details for refund Additional documents depending on the grounds: •Upon change of owner: sales contract, gift deed, or other document confirming the transfer of ownership •Upon unsuitability of the vehicle: certificate of unsuitability of the vehicle for operation, disposal documents •Upon prohibition of use: decision of the competent authority on the prohibition of vehicle use.
Yes, upon early termination of the OSAGO contract at the initiative of the policyholder, according to the legislation of the Republic of Uzbekistan, the insurer has the right to withhold its demonstrable expenses under the contract from the refunded amount, not exceeding 25% of the paid insurance premium. This means that you will receive at least 75% of the amount proportional to the unexpired period of the policy. The exact amount of the deduction depends on the actual expenses of the insurer and is indicated in the calculation when funds are refunded.
Yes, it is possible! Upon your application, the amount refundable upon termination of the OSAGO policy can be transferred to pay for a new OSAGO policy with our company. This is convenient if you: •Have acquired a new vehicle •Want to issue a policy for another driver •Plan to change insurance conditions When transferring funds to a new policy, deductions may not apply or may apply to a lesser extent – clarify this issue when contacting the office or support service.
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