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Declare the purchase or sale of a used car to your auto insurer

Buy and sell a used car can identify certain problems and ask questions, particularly regarding statements and procedures with the insurer. That said, if you have any questions related to this, you can find all the answers through this handy tip.

purchase of used vehicles

Buying a used car: statements and procedures with the insurer

Buying a used car, the buyer is obliged to follow some steps in the formalization of the purchase, being part of this the subscription of a car insurance that requires a good number of steps. However, if you are already insured, there are still some formalities. The first thing to do is to inform the insurer even before signing the purchase, however, from that date you will be covered. This declaration is mandatory in order to avoid any difficulties in the event of an accident. Also, a change of car means a change of insurance.

Hence, you need to provide a good number of documents to your insurer. Among other things, in a term of one monthyou must provide your insurer with a photocopy of the former owner’s gray card and certificate of sale in order to change the owner on your behalf.

Additionally, you also need to ask the seller for a photocopy of the license, it is a kind of pledge to verify that the car has not been stolen. Pending the completion of the procedures, you can use the old gray card to circulate.

used car sales insurance

Sale of a used car: declarations and procedures with the insurer

The sale of a used vehicle requires some precautions to be taken with the insurer. First, it is essential that you declare the sale of your car to your insurer as soon as possible, i.e. even before the sale due date. That being the case, it exists three possibilities which requires a lot of paperwork.

On the one hand, when you sell your used vehicle, you can cancel your car insurance contract if you don’t want your insurance to be suspended or transferred to another car.

On the other hand, you can transfer to another vehicle or to another insured person. Furthermore, you can also choose to suspend the contract. In any case, you must declare it to your insurer, by registered letter, indicating in the letter your contact details, the number of your insurance card and the date of the sale. Also add the vehicle make and license plate number. Now you know what to do in the face of the situation.

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