How to Transfer Commercial Insurance for Used Cars?
1 Answers
Methods for transferring commercial insurance for used cars: 1. Compulsory insurance change: According to the "Compulsory Insurance Regulations," compulsory insurance for vehicles cannot be canceled in principle during the sale of used cars. The only exception is when the vehicle is sold in a different location, in which case the new owner can purchase a new compulsory insurance policy in the new registration location. In this situation, the new owner needs to bring their ID card, new vehicle license, used car transfer procedures, and the newly issued compulsory insurance policy to the original owner's insurance company to cancel the policy. 2. Timely change of commercial insurance: After transferring ownership of a used car, it is important not only to focus on the transfer of compulsory insurance but also to pay attention to commercial insurance matters. For locally purchased used cars, changes require the new owner and the original owner to carry the original policy, ID cards, new vehicle license, and transfer certificate to the original insurance company for processing. 3. For used cars purchased from a different location: Since some insurance companies cannot underwrite policies across different locations, the original owner can be asked to cancel the commercial insurance with the insurance company, and then the new owner can purchase new commercial insurance in the registration location. If the insurance company offers nationwide coverage, the branch in the transfer location can contact the original underwriting location to inquire about the transfer procedures.
