Do I Need to Repurchase Insurance When Transferring Car Ownership?
3 Answers
No, you can transfer the insurance policy from the original owner's name to yours at the insurance company where the original owner purchased the policy. When buying a used car, not only do you need to complete the vehicle ownership transfer procedures, but you also need to handle the insurance transfer process. Therefore, insurance transfer is a crucial step in the used car transaction. Below is relevant information about vehicle ownership transfer: Required Documents: For car ownership transfer, you will need copies of both parties' ID cards, the vehicle registration certificate, and the driving license. Then, pay the transaction tax at the used car exchange and proceed to the Vehicle Management Department of the Traffic Police Brigade to complete the transfer procedures. Relevant Documents: The documents required for car ownership transfer include the seller's ID card, the vehicle's driving license, the vehicle's registration certificate, the vehicle's invoice, the vehicle's license plate, the chassis number, the insurance policy, and the tax payment receipt.
I just bought a used car recently and was thrilled during the transfer process, but later realized that insurance can't be taken lightly. Once the car is transferred to the new owner's name, the original insurance becomes invalid, and you must either purchase a new policy or transfer it to the new owner's name. I didn’t handle it promptly and almost ran into trouble because the law requires vehicles to be insured, and the original policy was under the previous owner’s name. Buying a new insurance policy is simple—you can choose a cheap one or one with higher coverage. On the day of the transfer, contact the insurance company to set up a new policy to avoid being unprotected in case of an accident on the road. Remember, this isn’t an excuse to cut corners—safety comes first. Handling the insurance promptly gives you peace of mind while driving. Spending a little time sorting out these details saves a lot of hassle later. I think it’s worth it for everyone.
As a seasoned driver with over two decades of experience, I've gone through several vehicle transfers, and insurance has always been a critical aspect. After a car is transferred, the insurance essentially needs to be repurchased because the policy is tied to the owner's information, not the vehicle itself. The new owner is responsible for promptly purchasing new insurance under their name or applying for a transfer after the ownership change. While the original owner's insurance might be renewable, the process is often cumbersome, making a new purchase simpler and more reliable. I once witnessed a friend getting fined for not securing new insurance in time—definitely not worth it. My advice is to obtain quotes from insurance companies and choose coverage that fits your needs. This way, you comply with regulations while minimizing risks. Neglecting small details can lead to big troubles; taking timely action ensures worry-free driving.
