The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published consumer guidance on how voluntary motor insurance (CASCO) should be handled when a car is sold, including whether any premium can be recovered. The agency explains that CASCO covers risks such as theft, damage in road accidents (including where the owner is at fault), natural disasters, fire and other unforeseen events, and differs from mandatory third-party motor liability insurance in that it compensates the vehicle owner’s own losses. In Kazakhstan, a CASCO policy cannot be transferred to a new owner when the vehicle is sold because it is a personal contract that reflects the insured person’s history, driving experience and other individual factors. The seller therefore has two main options: terminate the voluntary insurance contract and seek a partial refund of the premium for the unused period, or, if allowed under the contract, reissue the policy for another vehicle. The guidance recommends contacting the insurer in advance to confirm termination and refund procedures and whether policy reissuance is available, and reviewing these terms at the point of purchase if a sale before expiry is possible.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-30
Agency for Regulation and Development of the Financial Market of Kazakhstan clarifies that CASCO policies cannot be transferred to a new vehicle owner and may be cancelled or reissued
Kazakhstan's Financial Market Agency issued guidance on voluntary motor insurance (CASCO) during car sales, emphasizing CASCO policies are non-transferable. Sellers can terminate the contract for a partial refund or reissue it for another vehicle, subject to contract terms. The agency advises confirming procedures with insurers and reviewing terms at purchase if a sale before expiry is anticipated.