Can Compulsory Traffic Insurance Be Transferred to a New Car?
2 Answers
No, because compulsory traffic insurance is a mandatory national insurance. Here are the specific details: 1. Compulsory Insurance: According to the "Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles," each motor vehicle is limited to one compulsory insurance policy. Except for cases where the vehicle is scrapped, deregistered, or officially reported as lost by the public security authorities, the insurance cannot be canceled. In the event of vehicle transfer or ownership change, the compulsory insurance can only be transferred along with the original vehicle and cannot be transferred to a new car with the license plate. After purchasing a new car, you need to buy compulsory insurance again. 2. Purchasing Compulsory Insurance: Bring the owner's ID card, vehicle technical parameter sheet, and purchase invoice (for company vehicles, the organization code certificate is also required) to the business offices or agency points of major insurance companies to purchase compulsory insurance.
Last time a friend of mine was changing cars, he asked if the compulsory traffic insurance could be transferred to the new car. I told him no, because compulsory insurance follows the car, not the person. For example, the insurance policy is tied to the vehicle's VIN and license plate number, so you have to buy a new policy for a new car. However, before you buy a new car, remember to handle the old car's insurance, such as canceling it or having the insurance company terminate it, otherwise you'll end up spending more money. Nowadays, many apps allow you to handle this online, saving time. Another point is that compulsory insurance covers liability if someone else gets into an accident, so safety first with a new car—it's best to ask an insurance agent for advice in advance and not wait until you're registering the car to rush around. In short, this matter is simple yet crucial, so don't be lazy about it.
