Is the insurance still valid after transferring the car to someone else?
1 Answers
Answer: After the vehicle is transferred, the insurance remains valid, but an insurance transfer must be completed, which involves processing the modification of the compulsory motor vehicle traffic accident liability insurance contract. During the validity period of the insurance contract, if the insured vehicle is sold, transferred, gifted to someone else, has its purpose changed, or its risk level increased, the insured must notify the insurer in writing in advance and apply for an endorsement. Otherwise, the insurance company has the right to refuse compensation. Article 18 of the "Regulations on Compulsory Motor Vehicle Traffic Accident Liability Insurance" states: When the ownership of the insured motor vehicle is transferred, the modification of the compulsory motor vehicle traffic accident liability insurance contract must be processed.