A Complete Guide & Risks of Selling Car without Insurance

1. OLX Cash My Car A Complete Guide & Risks of Selling Car withoutInsurance Car insurances are compulsory in most states and countries however some of you still might not have one. Selling a Car requires proper knowledge even if the process seems easy. An informed seller always makes better choices. A complete guide for all your doubts regarding insurance of cars and selling your old car with or without insurance are solved. Types of Insurance: There are two types of insurances of cars; third party and comprehensive. While third party covers only damage done by someone else in accident or any damage by third party, comprehensive insurance covers personal losses too. The latter has wider coverage than the former. Risks of not having valid insurance cover: Tremendous Penalties: No one likes to get caught up in time consuming issues because of one little thing. Driving without car insuranceis illegal in India. Getting insurance doesn’t hurt either rather it covers various other future expenses that are bound to occur one way or the other. Your license can also be suspended if you don’t have insurance; in some cases vehicle registration is also

2. suspended. If you can’t afford a comprehensive insurance, you could get a third party insurance too. Poor Record (SR-22): An SR-22 is issued to drivers caught driving without insurance. Getting an SR-22 damages a clean driving record. You also become a high-risk customer for insurance companies once you get your driving record damaged. A deteriorated record can cause mayhem that you’d rather avoid. Legal Issues: No one wants to get into time consuming obstacles in such a packed lifestyle with many worries already lingering on our heads. You will have to incur fines on your own expense if you are caught driving without license. If you happen to be in an accident jail time becomes complementary with fines and other penalties. Less chances of getting good prices when selling: After every 4 to 5 years you need a change of wheels, selling your car can be quite gruesome if there is no insurance cover. A bad record can also make it strenuous task and you still wouldn’t be able to get a fair price for your car. Many dealers also deny their services. Sell a car without insurance cover: Perils of selling car without insurance cover:

3. Not getting the fairest price is just one of the perils of selling a car without insurance. If the next owner is caught driving the car without insurance cover you would be the liable person. Tremendous amount of money is washed away in paying penalties and you might be stripped of your driving privilege too. It’s better to get third party insurance rather than not getting one at all. Third party insurance is economical and cheaper as compared to comprehensive insurance. How to avoid troubles: The best way to avoid obstacles is to get a cheaper insurance. Many prospective buyers would pay higher for cars with wider insurance coverage but having a cheap one allows you to sell car legally. Also make sure the dealer is authorized when you sell your old car through them. Transferring car insurance is often the last thing on our minds while it should be a priority. Selling a car when insurance has expired: Anyone could feel a bit indolent in renewing insurance if it has expired near the time of selling. But when transferring ownership of your car and its insurance you will have to get it renewed. The original owner will have to get a new insurance policy in his name and then get it transferred in the name of the new owner. Sell your car at OLX Cash My Car for the least amount of hassle and a completely transparent process. Every single need and doubts you have are taken up by them for proper clarification. The entire paperwork is done by the OLX Cash My Car team of professionals. Car insurance cover transfer process has been made easy by cash my car. Sell your used car at OLX Cash My Car for getting maximum authentic benefits.