An Easy Guide to Transfer Car Insurance before Selling it

1. OLX Cash My Car An Easy Guide to Transfer Car Insurance before Sellingit Transferring process when selling your used car can be extremely monotonous and it may seem complex at first too. Paperwork can be done effectively only when you have been illuminated with the insurance transfer process. It’s necessary so that future complications can be avoided like; if a major accident occurs before you transfer car insurance the next owner will not be able to claim insurance causing him monetary damage and you’d have to bear unnecessary havoc as the car would still be in your name. There are many other reasons as well for which you might want to transfer your car insurance like transferring it to some other family member. Most part of the procedure still remains the same. Don’t be vary of the intricacies and be an informed seller. Follow the step-by-step guide for second hand car insurance transfer:  Transfer of Ownership: Transferring process of ownership is usually handled by the dealer through which you sell your car to someone else. Address proof of buyer, no objection certificate from RTO, registration and insurance certificate and application form no. 29 and 30 are the required documents for transferring ownership. It’s the first step.

2.  Documents required for transfer of car insurance: An application for change of title, registration certificate in the name of transferee and original insurance certificate are essential. The vehicle insurance letter format is given to the insurance company and follows a set procedure and format. Letter format for insurance transfer to someone else: To, Manager National insurance company ltd Name of state Subject: regarding the transfer of car insurance Respected sir/Ma’am, I have purchased a _____ car having registered number DL –XX- HA-XXXX of Mr. ______ staying at ________ and having already car insurance of your company (ref no. XXXXXXXXXX) which is Valid from ____to____. So, it is my kind request to transfer car Insurance to the following details. Name: Address: I have also enclosed a original copy of car insurance and copy of registration certificate. Please do the needful at earliest. Thanks and regards,  Transfer process from one person to another Once the deal is made and money is transferred so does the ownership and insurance of used cars. OLX Cash My Car helps you with the paperwork at all steps. You get professional help that help you make informed decisions aiding in avoiding possible contingencies. Car insurance transfer from you to the buyer involves many documents and information.  Benefit of no claim bonus (NCB): No claim bonus (NCB) is a discount offered on own damage for not claiming insurance during the policy period. It can go from 20% to 50% over the span of five years. As a buyer, you have the right as well as the opportunity to transfer the No Claim Bonuses that you have accumulated through your previous policy to the new car insurance plan that you avail through the transfer.  Make prudent decisions about buying and selling of car:

3. When buying or selling second hand cars vehicle insurance transfer has some hidden aspects like the no claim bonus which are usually neglected or brushed over. The insurance agent gives you a grace period and notifies the authorities about the same. Make sure you report and complete the process within the grace period else you won’t get a discount or refund. As a buyer, you should get a test ride of the used car before the paperwork is completed.  How OLX Cash My Car makes it easier: OLX Cash My Car makes the entire procedure smooth and ensures you don’t face any fix during the time period. They help out with the whole paperwork including RC of the car and car insurance. They complete the paperwork within 45 minutes, a claim no other dealer or company will give you. Sell car at OLX Cash My Car for conveniently selling your used car and getting the best price for your second hand car.