Shortening the notice period is a way of giving yourself some breathing space at the end of the year to renew the relevant insurance policies. As a rule, the → Insurer or the → policyholder give proper notice three months before the end of the year. If negotiations regarding an extension or a move to a new → Insurer If the contract has not yet expired, either party may request a reduction in the notice period, for example by one month. This means that the existing contract can be terminated, for example, by 31 October rather than by 30 September as originally intended. The other party must agree to the extension of the notice period once it has been notified; otherwise, it is invalid.