Can the original insurance still be used after the vehicle is transferred?
2 Answers
After the transfer of a used car, the original owner's insurance can continue to be used, but the insurance needs to be transferred. The following is an introduction to auto insurance: 1. Compulsory Traffic Insurance: A mandatory national auto insurance that provides coverage for the other party's property and personal safety. 2. Special Insurance for Non-Deductible: The most important aspect of this auto insurance is the absolute deductible rate. 3. Vehicle Damage Insurance: This insurance mainly covers the car. If the car is involved in an accident or suffers damage due to natural disasters, these losses can be compensated by the insurance company through vehicle damage insurance. 4. Third-Party Liability Insurance: This insurance mainly covers the personal injury, death, and property loss of a third party in a traffic accident. To supplement the coverage of compulsory traffic insurance, a comprehensive third-party liability insurance is necessary.
Last year, I sold my car to a friend. On the day of the ownership transfer, I specifically called the insurance company to inquire about this matter. Their response was that the original insurance would no longer be valid after the transfer because the policy was still under my name. The new owner would have to arrange for new insurance themselves. Before the transfer, I reminded my friend to promptly update the policyholder name with the insurance company. Otherwise, if they were stopped by the police or involved in an accident while driving, the insurance company might not honor the claim, and there could also be a risk of fines. I had previously transferred ownership of another car and, being too lazy, delayed for a few days, almost getting fined by traffic police. So this time, I learned my lesson and made arrangements in advance. In summary, once the ownership transfer is completed, the original insurance becomes invalid, and the new owner must purchase new insurance as soon as possible. Don’t try to save a little time now only to face bigger troubles later.
