What will happen with my insurance if i sell the car ?
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UPDATED: Dec 1, 2012
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Insurance Question from NULL, NULL
Asked on 12/01/2012
What will happen with my insurance if i sell the car ? What will happen with my insurance if i sell the car ?
Answer given on December 03, 2012
If you sell your car, you no longer have an interest in it so the insurance should be cancelled. You should also report the sale to the Dept of Motor Vehicles, in case the buyer does not register the car promptly. If they don’t you could be held responsible for an accident. However, if you tell the Dept of Motor Vehicles that the car was sold, you will have no responsibility.If you are going to buy another car soon, you can keep the insurance in force so that you won’t have to start up a new policy. The insurance will automatically cover the car that you buy as long as you tell your agent or insurance company within 10 days that you bought the new car. The insurance you had on the previous car will be the same as the new car within the 10 day period.
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