What procedures are required for car insurance transfer?
2 Answers
Seller needs: owner's ID card, vehicle license, registration certificate, original purchase invoice (transfer invoice), and copies of the above documents; Buyer needs: ID card, temporary residence permit, and all copies. Introduction to car insurance transfer: So-called car insurance transfer means changing the name of the used car insurance from the original owner to the current owner and changing the license plate number. Car insurance transfer must be completed after the used car transfer procedures, because the insurance transfer requires the new vehicle information. Insurance can be not transferred: Car insurance includes commercial insurance and compulsory traffic insurance, which are not mandatory to transfer. You can cancel the original insurance and reapply for a new one.
When transferring car insurance, I believe the first step is to prepare all necessary documents. I remember when I sold my car last time, to transfer the insurance, I gathered copies of the original car insurance policy, copies of the seller's and buyer's IDs, and the vehicle registration certificate. After contacting the insurance company's customer service to schedule an appointment, I filled out the transfer application form, and they processed it on the spot. The key is to handle it promptly; otherwise, if the new owner gets into an accident, the insurance company might refuse to pay, leading to unclear liability. I once had a friend who didn't complete the transfer, and the dispute ended up in court, costing a lot of extra money to settle. My advice is to handle the transfer as soon as the car is bought or sold to avoid fines or gaps in coverage. Keeping all documents organized in their proper place makes the process faster and more worry-free. Also, note that the insurance company might charge a small fee, but it's insignificant compared to the potential risks.
