According to statutory conditions, when can the insured terminate their contract?

The insured can terminate their contract at any time on request, reflecting a fundamental principle of insurance contracts that affords the policyholder a degree of flexibility and control over their coverage. This provision acknowledges that a policyholder may find it necessary to end their insurance due to various reasons, such as changing circumstances, finding better rates, or simply no longer needing the coverage.

Statutory conditions are designed to clarify the rights and responsibilities of both the insurer and the insured. Therefore, allowing termination of the contract at any time aligns with consumer protections in insurance, enabling individuals to manage their contracts according to their specific needs rather than being locked into an agreement for an extended period.

The other answer options present limitations or conditions that do not accurately reflect the rights typically granted to the insured under such contracts. For instance, restricting termination to only the renewal date or requiring a 30-day notice would impose unnecessary barriers to the policyholder. Similarly, only allowing termination after an incident suggests a lack of flexibility that contradicts the principle of providing the insured the ability to manage their own insurance needs.