Should I Transfer Ownership Or Buy Insurance First For A Used Car?

Nov 09, 2024

Leave a message

The order of transferring ownership and insurance for a used car is to transfer ownership first and then buy insurance. Specifically, insurance transfer must be carried out after the transfer of ownership of the used car. After the transfer is completed, it is necessary to register and keep the certificate, change the owner's information, and obtain a new vehicle license plate and driving license. ‌

In the process of used car transactions, the matters needing attention for insurance transfer include:

‌Handling of compulsory traffic insurance: Compulsory traffic insurance is "with the car" but not "with the person", and can be applied nationwide. It is recommended to cancel the used car commercial insurance in advance before selling the car in order to better change the ownership of the used car.
‌Handling of commercial insurance: If the transfer is in this city, the content of the driver's insurance policy needs to be replaced, and the new driver and the original driver need to bring the original insurance policy, ID card, driving license and transfer certificate to the original insurance company for processing. If it is not replaced in time, the new and old drivers need to be present at the same time to pay the compensation after the accident.