Does Commercial Insurance Not Being Transferred Affect the New Owner?

[LaCora]

Commercial insurance not being transferred will affect the new owner. After the second-hand car transfer, the original owner's insurance can still be used, but the insurance needs to be transferred. Here are the detailed information: 1. Handling method: The original owner can cancel the insurance, and the insurance company will refund the unused portion of the premium according to the insurance algorithm. After cancellation, the new owner can independently choose a new insurance company. Cancellation requires the insurance policy and the original owner's ID card, while new insurance requires the vehicle registration certificate and the second-hand car transfer certificate. 2. Notes: Generally, the place where the insurance is purchased and the place where the insurance is transferred need to be the same; if the vehicle insurance is purchased in another city or province, with complete documentation, the local insurance company staff can assist the customer in contacting the relevant department of the out-of-town insurance company for modification.