The period for mandatory traffic insurance on second-hand vehicles.

The Insurance and Private Pension Regulation and Supervision Authority (SEDDK) announced that businesses selling second-hand vehicles can obtain a minimum of 60 days of traffic insurance.

TRAFFIC INSURANCE WILL BE MANDATORY FOR SECOND-HAND VEHICLE SALES

In a statement from SEDDK, it was reminded that with the "Regulation on the Execution of Sales, Transfer, and Registration Services of Vehicles," as of December 5, a requirement for traffic insurance in the name of the buyer has been introduced before the sale or transfer of motor vehicles can take place.

CAN BE OBTAINED FOR 60 DAYS

In the statement referring to the new amendment published today in the Official Gazette regarding the "Regulation on the Implementation Principles of Tariffs in Compulsory Financial Liability Insurance for Motor Vehicles," it was noted that SEDDK has been authorized to determine the minimum duration of traffic insurance contracts that businesses holding a second-hand motor vehicle trade authorization will enter into as operators.

The statement indicated that these businesses will be able to obtain a minimum of 60 days of traffic insurance starting from February 1, 2025.