5 Replies to “I have take a car insurance. But now I want to sell my car. Please tell what will happen in this case?”

  1. If you want to sell your car, then insurance policy will be transferred in the name of the buyer. The buyer should have to apply for the transfer of the insurance within 14 days of the date of the transfer of the vehicle in his name.

  2. Once you sell, ring your insurance provider, tell them you have sold the car and cancel the policy. If you have paid in advance you may be eligable for a pro rata refund.

  3. When you sell the car, first return the plates (tags) to the Department of Motor Vehicles and obtain a receipt from them. Then take the receipt to your insurance agent or company and ask them to cancel the insurance effective the date that you returned the tags. In the vast majority of states if you cancel the insurance before returning the tags you can subject yourself to severe penalties even if the difference is only one day.

    Once you cancel the policy, the insurance company will mail back any unused portion of your premium or bill you if you still owe them money through the date of cancellation.

    I hope this helps. Good luck!

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