How to Transfer Insurance After Selling a Car?
1 Answers
How to transfer insurance after selling a car involves modifying the insurance policy. Below are the methods for transferring insurance after selling a car: 1. Modify the policy, which means making some adjustments to the original policy elements, with the key changes being the insured and the car owner; 2. This requires specifying in the vehicle sales contract that the original owner must bring the policy and the vehicle transfer certificate to the original insurance company's service outlet for processing. Otherwise, any resulting consequences will be borne by the original owner; 3. Generally, the insurance company will process the modification upon receiving a written application. If the insurance company does not approve, it will notify the original owner to cancel the policy and refund the premium. The new owner can then deduct this amount from the car price and choose another insurance company for coverage.