Does vehicle insurance transfer with the vehicle during ownership transfer?
1 Answers
Vehicle insurance does transfer with the vehicle during ownership transfer, but this is not mandatory. Documents required from the original owner for a used car transfer include: the vehicle registration certificate, driving license, and ID card, among others. The buyer needs to provide an ID card, and if they are from another region, a residence permit or temporary residence permit is required. The original owner's commercial insurance can be canceled (compulsory insurance cannot be canceled), or the insurance can be transferred to the buyer at the insurance company. Precautions when buying a used car: Incomplete documentation. Complete documentation for a used car includes: the vehicle registration certificate (or original purchase invoice), driving license, vehicle purchase tax payment certificate, road maintenance fee records, and compulsory insurance, among others. Missing vehicle registration certificates or driving licenses, or unpaid compulsory insurance and road maintenance fees, can cause endless trouble for the buyer. Therefore, if the seller cannot provide complete documentation, consumers should be particularly cautious. Tampering with the odometer. Most consumers rely on the odometer to judge a car's condition, and sellers often take advantage of this by tampering with the odometer. In fact, the odometer is not just an indicator of usage intensity but also a record of maintenance and replacement of other vehicle components. If buyers follow the tampered odometer readings for maintenance, it can lead to a series of potential safety hazards. New paint covering 'external injuries'. When purchasing a used car, if the car has been repainted and there are signs of repair around the front, rear, and A, B, and C pillars, the car may have been involved in a major accident. 'Tuning the heart' to raise the price. Many consumers focus too much on the car's 'heart' (engine) and overlook the health of the body. Used car sellers take advantage of this by replacing engine components to make the 'heart' appear younger, thereby increasing the price.
