Why Can't a Used Car Get Insurance?

[OValentina]

The reasons why a used car cannot get insurance are: 1. First, complete the insurance transfer: Not only should you obtain the insurance documents from the previous owner, but it is also crucial for the new owner to visit the insurance company's business hall with the previous owner to transfer the policy and change it to their own name. Otherwise, in the event of an accident, the used car owner will not be able to receive compensation. The benefits of the transfer are not only that the used car owner can continue to enjoy the insurance coverage of the car until the policy expires, but also that if no claims are made, the used car owner can apply for a 10% no-claims discount in the next year's insurance renewal using the current policy. 2. Do not underinsure: The amount of insurance coverage directly affects the amount of compensation. Therefore, consumers must analyze the different aspects of each insurance type and determine the appropriate coverage amount. For example, collision insurance is usually based on the purchase price of a similar new car, while theft insurance is based on the actual value of the vehicle at the time. Consumers should realistically determine the insurance amount and fully insure the vehicle to receive reasonable compensation.