Can a used car be transferred without compulsory traffic insurance?
1 Answers
No, compulsory traffic insurance is mandatory. If the original owner's compulsory traffic insurance follows the vehicle, it will be transferred to the new owner during the vehicle transfer process. If the compulsory traffic insurance does not follow the vehicle, the owner must go to the insurance company to complete the transfer procedures for the vehicle insurance. The owner needs to prepare the vehicle registration book, the new owner's driving license, copies of the new and old owners' ID cards, the invoice issued during the used car transaction, and the amendment application form provided by the insurance company to complete the transfer of the compulsory traffic insurance. Important Notes Once a used car is purchased, the transfer procedures for compulsory traffic insurance and other insurances should be completed as soon as possible. Otherwise, if an accident occurs, the beneficiary will still be the original owner, and the new owner will not receive any compensation. Compulsory Traffic Insurance for Vehicles: The full name of compulsory traffic insurance is "Compulsory Motor Vehicle Traffic Accident Liability Insurance." It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. The premium is based on nationally unified rates. However, the price of compulsory traffic insurance varies depending on the vehicle type, primarily influenced by the number of seats. Compared to the over 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused intentionally by the victim, the insured's own property losses, related arbitration and litigation costs, and some indirect losses due to accidents. Moreover, regardless of whether the insured vehicle is at fault in an accident, compulsory traffic insurance will compensate within the liability limits, with no deductible or exemption. Introduction to Electronic Insurance Policies An electronic insurance policy is a digital policy issued by an insurance company using digital signature software and enterprise digital certificates that comply with the PKI system, bearing the insurer's electronic signature. An insurance policy, or simply a policy, is the official written proof of the insurance contract between the insurer and the insured. It must fully record the rights, obligations, and responsibilities of both parties to the insurance contract. The content of the insurance policy serves as the basis for both parties to fulfill the contract. The insurance policy is proof of the establishment of the insurance contract. Advantages of Electronic Insurance Policies: Saves paper resources, eliminating the need to print insurance proof labels; Saves time and is convenient, not restricted by time or location; information is universally accessible online anytime, quickly and easily; Allows for reissuance or resending, eliminating worries about losing it. If a paper version is needed offline, it can be printed or mailed; Facilitates management; once unified electronically, insurance companies and traffic police departments can more easily manage the insurance information of various vehicles.
