Termination
Termination is a term used in contract law, meaning that one party in a contractual relationship intends to terminate the contractual relationship between the buyer and seller through termination.
Termination of an insurance
A termination of an insurance can be done by the insurer due to the insured not paying the premium, or other breaches of contract in the agreement. As the insured policyholder, you can terminate your insurance according to the terms and conditions – for example when the insurance period ends, when you sell you car and no longer need the insurance, or if the insurance applies without any binding time.