Can a car be transferred if the insurance has expired?
1 Answers
Car insurance cannot be transferred if it has expired. Below is relevant information about car insurance: Types of car insurance: Compulsory Traffic Accident Liability Insurance (CTPLI) is a mandatory insurance system implemented by national law. It requires insurance companies to compensate victims for personal injuries, deaths, and property losses caused by road traffic accidents involving the insured vehicle, within the liability limits. The compensation amount is relatively small. Commercial Third-Party Liability Insurance refers to situations where the insurer or an authorized driver causes an accident while using the insured vehicle, resulting in personal injury, death, or direct property damage to a third party. The insured is legally responsible for the economic liability, and the insurance company is responsible for compensation. Precautions for used car transfer: When transferring ownership of a used car, the new owner needs to reapply for car insurance. If conditions permit, the owner should consider purchasing Third-Party Liability Insurance and Vehicle Damage Insurance when buying insurance.