What happens to my car insurance when I sell my car?
Answered on December 27,2017
In this case there are two options.
1. The buyer can get the policy transferred in his name by applying to the insurance company in which case an endorsement is made to the policy. However, the no claim bonus(NCB) on the policy is not transferred and the difference has to be paid. NCB is retained by the seller.
2. You can cancel your policy and the buyer can buy a new policy. You will get a refund for the unexpired / unused period provided there is no claim on the policy. In this case too, you can retain your NCB and transfer it to your new insurance policy if you have purchased another vehicle. The buyer can transfer NCB in his previous policy to his new one. Please note that your policy will be cancelled only if the insurance company is provided with the proof that the vehicle is covered by another policy.
Also you can transfer the policy to your new vehicle and the unexpired premium amount can be adjusted accordingly.
Related Questions
-
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 27,2020Whether Bank passbook (syndicate bank) can be used as an address proof for vehicle registration?
No.
1 0 130 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 25,2020If not present the vehicle before the RTO officer, then can I renew my fitness certificate?
No. You should produce vehicle
1 0 116 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 21,2020I have a 2016 model Ford Figo purchased in Kerala. I've shifted to Bangalore now. I have a NOC from the originally registered RTO for KA-50 passing. How must I go about to re register my vehicle and also apply for a tax refund from my originally registered RTO ?
The procedure will be similar to this. Please check the videos.
1 0 594 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on May 24,2021What will be the tax for my bike which I am going to register in Kerala from Madhyapradesh , Vehicle : Yamaha RX100 ,1993 model? How it can be calculated ?
Only the usual 5 year tax-Rs.900/- if you get proper NOC.
1 0 96 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 20,2020I am a differently-abled person with a right arm paralyzed (70%) ortho, (can't use the right arm for driving). I am having Maruthi Suzuki swift lxi manual transmission car. even without any alteration, I am able to drive it. I went to the time RTO and enquired about the provisions for having a driving license. he responded positively and assured me that there is provision for it in rules, first I have to obtain a medical certificate from a medical board certifying my ability to ride the vehicle, thereafter all things will be taken care of by the MVD. but when I approached the medical board for differently abled in tvm general hospital, they are denying me the certificate, as they are saying that even a person without two leg can have it but I can't. i don,t understand the logic behind this. What to do?
Convince the board, or challenge their decision at Court.
1 0 96 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on May 24,2021What is the procedure to change the color of vehicle in the RC book, Kerala ?
Change colour, apply online "alteration of colour", produce the vehicle at RT office for inspection.
1 63 2469 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 14,2020My 2 wheeler is registered in Chennai. As I got shifted to Bangalore, I got NOC from Chennai for Bangalore. But I didn't register in Bangalore. Now I got transferred to Hyderabad. What is the the way to get the vehicle registered in Hyderabad?
Approach Chennai RT office and get NOC to Hyderabad
1 0 453 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 02,2020I own a Maruthi WagonR car bought in Aug 2005.My car is now 15 years old .The vehicle was bought in Bengaluru. I wish to re register this car in Bengaluru RTO. How much I have to pay for re-registration ?
Rs.710 as renewal fee
1 0 205 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on November 08,2020My vehicle's NOC got expired. How to renew it ?
Apply for new NOC, if not accepted as you did not submit it within the prescribed procedure
1 0 26 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on October 24,2021Njaan ente car sold cheythu. Ella documents ente RTO office il submite cheythathu nerittu poyi submit cheythu. But epo online status nokkumbol issue of noc ennu kanikunnu. Entha cheyanda. I have sold the vehicle on 28th octber 2020. Enthagilum problem undo ?
It is the normal procedure. Wait and check status later
1 0 24 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on October 24,2021How to find driving licence number with vehicle number ?
You can not.
1 0 30 -
Thankachan John
Rtd Motor Vehicles Inspector, Insurance Surveyor and Accident Investigator . Answered on October 26,2020I have 2014 August 2wheeler in good condition. Since it has completed 15 years , can I go for fitness on line by paying fees ? Or should I take this vehicle to Rto for inspection ? Or fitness will not be permitted ?
At present vehicles are renewed. You have to produce vehicle for inspection
1 0 42