How to Handle Insurance Transfer for Vehicle Ownership Change?

[Oliver]

New owner should bring the ownership transfer certificate, copy of vehicle license, original insurance policy, their ID card and the original policyholder's ID card to the original insurance company to fill out the transfer application form. The insurance transfer procedure can then be completed, and it will take effect from midnight the next day after policy approval. More relevant information is as follows: 1. Vehicle ownership transfer: Used car insurance transfer is mainly divided into two types - modification of policy elements and applying for policy cancellation then purchasing new insurance. The former means changing the insured and owner while keeping the insurance content unchanged. The latter means canceling the original car insurance, and the new owner needs to purchase new insurance. 2. Vehicle insurance cancellation: When applying for insurance cancellation for a used car, the original owner's insurance policy and ID card need to be provided. After cancellation, the new owner can purchase car insurance from any insurance company by providing the new vehicle license or vehicle ownership transfer certificate.