You may wonder how to sell a car without insurance if you aren’t going to drive it and aren’t too interested in spending the time and money to insure it. However, doing so is strictly prohibited because selling your car involves a transfer of ownership. And in this case, a certificate of insurance is essential.<\/p>\n\n\n\n
According to the Parivahan website of the Ministry of Road Transport and Highways, transferring ownership of a vehicle typically happens in one of the following three ways: <\/p>\n\n\n\n
In these three instances, the vehicle’s Certificate of Insurance is mentioned under the Required Documents section. Therefore, insurance transfer is an essential component of the transfer of ownership. <\/p>\n\n\n\n
Reasons To Sell A Car With A Current Insurance Certificate<\/strong><\/p>\n\n\n\n The critical justifications for maintaining <\/strong>car insurance coverage<\/strong><\/a> while selling it are outlined below.<\/p>\n\n\n\n Technically, a car is sold when the new owner’s name appears on the Registration Certificate. The transfer of ownership can only be completed with insurance, as was stated in the section before this one. You require a current <\/strong>third-party car insurance<\/strong><\/a> policy to transfer property legally. Additionally, the new owner’s name must appear on the insurance policy. A third-party motor insurance policy is mandated by the Indian Motor Vehicles Act for all vehicles. <\/p>\n\n\n\n The organised used car market has made selling a car easy and convenient, but selling your car all at once might only sometimes be feasible or profitable. Before signing the contract, you should assess a few potential buyers and determine where you can get the ideal deal. This could all take some time. And use the car during this interim period. You must insure it to comply with the law and to maintain coverage against financial obligations resulting from car accidents and other unforeseeable events.<\/p>\n\n\n\n\n
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