Can Insurance Be Transferred to the New Owner?
1 Answers
Commercial auto insurance can be transferred to the new owner after the used car is transferred. Transferring a used car without insurance: If the transferred vehicle has no auto insurance or the insurance has expired, the owner should purchase insurance as needed. Terminate the original owner's auto insurance contract and arrange new insurance for the new owner. Precautions for transferring auto insurance: When transferring auto insurance after a used car is transferred, both the buyer and seller need to bring the original insurance documents to the insurance company to change the policyholder information. Compulsory traffic insurance (CTPL) does not allow the original owner to cancel the policy but can only be transferred. Vehicles without CTPL cannot be transferred.