What will happen to my policy if I sell my car?
If you sell your car to another person, the insurance policy is transferred in the name of the new buyer. The new buyer will have to apply for transfer of insurance in his name within 14 days from the date of transfer of the vehicle in his name.
However, if the vehicle owner wants to substitute another vehicle of his to this policy, the policy will not be transferred to the buyer. For this, the buyer will need to buy a new insurance policy.
- What is the amount for which I need to insure my commercial vehicle? How is IDV connected to the amount needed to insure vehicle?
- What kind of risks is covered by IFFCO Tokio third party policy?
- Consequences if I forget to renew my commercial auto insurance on time
- Can I renew my commercial vehicle insurance with IFFCO Tokio?
- What is a No Claim Bonus?