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Can insurance be transferred to a new vehicle?

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βˆ™ 2015-07-15 20:50:27

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Yes. If you already have an old vehicle and if you have insurance for the same, you can transfer that insurance to your new vehicle. The transfer of insurance can be possible under certain circumstances such as:

If you buy a new vehicle

If you want to sell your old vehicle

However, one thing that needs to be mentioned here is that since now you have a new vehicle which might have different features and specifications from your old vehicle. hence, your insurance premiums would be high. And, you need to firstly inform your insurance company about your new vehicle purchase as your insurer will do the changes in the insurance policy as well.

Soon after getting the approval from your insurance company and deciding the new premium rates, you can easily transfer your insurance to a new vehicle within 14 days of purchase.

Don't forget to transfer your NCB as well. NCB allows you to get a discount on your next policy renewals.

2021-04-28 07:54:07
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2015-07-15 20:50:27
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Insurance transferYes, It's normal. You just call your Insurance Agent and notify them that you are obtaining another vehicle. Your agent will ask the make and model as well as the vehicle identification number to schedule the vehicle on your existing policy. Most companies automatically cover the new car when you trade, but you need to notify them of the change as soon as possible. The newer car will probably increase the premium.

For days 1-4 after you purchase a new car, it is covered by comprehensive, no matter what type of insurance you carry on your other cars. On days 5-14, your new car will carry the same insurance as your best coverage (ex: if you have liability on one car, and comprehensive on a different car, your new car will also be covered by comprehensive). After day 14, you will have no coverage unless you have notified your insurance company and added the car to your insurance plan.

2015-07-15 20:50:27
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