Will the insurance be cheaper in the second year for a transferred vehicle?

[VanLaila]

Generally, when a used car is transferred, the commercial insurance will be canceled, while the compulsory traffic insurance will be retained. Once the transfer is completed, all insurance premiums in the second year will revert to the original price, meaning no discounts will apply. There are two key points to note after the transfer: 1. After the transfer, the vehicle will only have compulsory traffic insurance, and you will need to purchase commercial insurance separately; 2. Due to the transfer, the validity periods of the compulsory traffic insurance and commercial insurance may not align, so please pay attention to this. If the original owner has already purchased compulsory traffic insurance and it is still within the coverage period, the new owner must request the original owner to bring all necessary documents to the insurance company to complete the insurance transfer procedure, ensuring the compulsory traffic insurance is also transferred.