I recently bought a second hand Hyundai Santro (2004) model. The vehicle ownership has been transferred in my name. I wanted to know whether I should tansfer the car insurance also or wait till the current insurance get over.
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I recently bought a second hand Hyundai Santro (2004) model. The vehicle ownership has been transferred in my name. I wanted to know whether I should tansfer the car insurance also or wait till the current insurance get over.
Vinayak -
- Its legal requirement that you have to change insurance in your name, if you won't do its punishable as per law.
- Second the owner and insurance should be in the same name.
- If some claim happen during old insurance, how would you make a claim?
So go to the insurance company and just make an application to change the owner.
It is must to transfer insurance in your name, but the NCB (if any) would not be transferred to you. You can use fax and email methods also. The insurance company would amend the policy and send you the amendment for your record.