Can I buy a used car under the same auto insurance policy?

[Vihaan]

Hi
I am planning to buy a 2nd hand car for myself and I am not very aware of the motor insurance policies related to a used car. So is this possible for the existing motor insurance policy to be transferred to my name, and what steps are involved?

[Shantanu Sharma]

Yes, you can transfer the current car insurance coverage to your name, after purchasing the 2nd hand car. To transfer the motor insurance you need to do some steps:

1. Within 14 days of purchasing a car, you need to inform the insurance company about the transfer of ownership. Get the No Objection Certificate(NOC) and original RC from the previous owner.
2. Fill the forms 28,29 and 30 from the RTO with the seller’s signature and proof of sale. And get the receipt from the RTO.
3. Submit all the documents mentioned above, the new Registration Certificate(RC) with your name, your id proof to the insurance company.
4. Some amount of fee is to be paid to the insurance company for inspecting the car.
5. Once everything is approved, you will get the updated policy with your name.

[Reema]

Transferring the existing insurance to your name is possible and recommended. To do that, contact the seller to get an NOC and deposit all the documents with new RC (issued by RTO) to the insurance company. Once the insurer approves, the insurance policy will be transferred to your name.