How is compulsory traffic insurance calculated for transferred vehicles?
1 Answers
After the vehicle is transferred, the first purchase of compulsory traffic insurance is at the standard premium without any discount. Here are the relevant details: 1. Compulsory traffic insurance change: According to the "Compulsory Traffic Insurance Regulations," in the sale of used cars, compulsory traffic insurance cannot be canceled in principle. The only situation where cancellation is possible is when the vehicle is sold in a different location, in which case the new owner can purchase a new compulsory traffic insurance policy in the registration location. The new owner needs to bring their ID card, new vehicle license, used car transfer documents, and the newly obtained compulsory insurance policy to the original owner's insurance company to cancel the policy. However, since compulsory traffic insurance "follows the vehicle" and not the person, the best approach is to process a change of the compulsory traffic insurance, as it is applicable nationwide. 2. Timely change of commercial insurance: After transferring a used car, it is not enough to only focus on the transfer of compulsory traffic insurance; attention must also be paid to commercial insurance matters. For locally purchased used cars, the change requires the new owner and the original owner to bring the original policy, ID cards, new vehicle license, and transfer certificate to the original insurance company for processing. For used cars purchased in a different location, since some insurance companies do not provide coverage across regions, the original owner can cancel the commercial insurance with the insurance company, and the new owner can then obtain new commercial insurance in the registration location. If it is a large insurance company that provides nationwide coverage, the insurance transfer can be processed at the location where the vehicle records are transferred.
