All the automobile owner knows that all the vehicles which are plying on the road will require insurance based on government regulations. The prospective buyers of the used cars in montclair must buy the auto insurance policy so that the damage which is caused to the car on the roads are been compensated.
Most of the owners of the car are already aware of basic of the car insurance policies which are been offered by the insurance providers in the state. But few people are still not aware of the process of transferring the insurance for the purchase or sale of the used cars in Montclair. It should also be noted that the insurance of the used car is easily transferred to the new owner of the car.
Transfer process of insurance:
According to the guideline which is set by the insurance regulatory, the used car should be transferred to the new owner within14 days from the date of transfer of registration. When this is not followed then the claim would not be payable for the car which has been suffered from their damage.
Below are the documents required for transferring the insurance:
1. Old insurance policy papers
2. Certificate of registration
3. NOC of the old owner of used car
4. Proposal form
5. Inspection report
6. Fee for transfer
7. Changing of Insurance provider
At the time of transfer of registration, you can choose between the change in the insurer or continue with the current one. Due to competition in the market, various insurance providers are offering very lucrative insurance policies and flexible coverage. So this is a very good time for choosing the most optimum plan for your car.
Several third-party websites are having a user-friendly interface for comparing and buying the most appropriate used car insurance policy for your need. They are also providing the super post-sale service and there are also dedicated teams who are assisting in resolving the issues which are related to claims. IDV value of the car will depend on the compensation when the car is been damaged.