Why is compulsory traffic insurance not transferred?
1 Answers
Reasons for not transferring compulsory traffic insurance: Currently, the compulsory traffic insurance for vehicles follows the car, not the person, which means it adheres to the principle of following the vehicle. Except for special circumstances, the compulsory traffic insurance is automatically transferred to the new owner's name, so as long as the compulsory traffic insurance can follow the car, there is no problem, and there is no need to handle the transfer procedures for compulsory traffic insurance. In the process of used car transactions, compulsory traffic insurance follows the principle of following the vehicle. Except for the special circumstances stipulated in the terms, the insurance contract cannot be terminated. That is to say, after the used car transaction is completed, the compulsory traffic insurance is automatically transferred to the new owner's name. Although the compulsory traffic insurance of the vehicle is nominally under the new owner's name, if an accident occurs without the transfer being completed, it may affect the claim. Some insurance companies may directly refuse to pay, and there are also cases where some insurance companies default the original owner as the beneficiary and transfer the claim to the original owner's account.
