April International Insurance

[CanNot]

Hello, 

I'm about to sell my car. I'm wondering what will happen to the existing compulsory and private first class insurance. 

Do I need to inform the insurance? I want to avoid something happen after I sold the car and my name is still involved. 

 

Looking forward for your advice. 

 

 

[JBChiangRai]

The insurance goes with the car, the insurance company would like to be notified, but it’s not mandatory.

[KannikaP]

15 minutes ago, JBChiangRai said:

The insurance goes with the car, the insurance company would like to be notified, but it’s not mandatory.

I think not. When I insured my car, I put four named drivers only. How can that be transferred to a new owner/drivers?

[KhaoNiaw]

3 minutes ago, KannikaP said:

I think not. When I insured my car, I put four named drivers only. How can that be transferred to a new owner/drivers?

 

It's transferred if the insurance is for unnamed drivers, though also following whatever conditions there may be regarding age.  It's not transferred if it's for named drivers. 

[KannikaP]

1 minute ago, KhaoNiaw said:

 

It's transferred if the insurance is for unnamed drivers, though also following whatever conditions there may be regarding age.  It's not transferred if it's for named drivers. 

So if I sell my car, the new owner will have my name and address still on the insurance policy? Crazy system. OK, the Por ra Bor can go with the car.

[JBChiangRai]

1 hour ago, KannikaP said:

I think not. When I insured my car, I put four named drivers only. How can that be transferred to a new owner/drivers?

You’re right, I was assuming any driver policies.  I may be wrong but I think named driver policies started with Roojai. I’ve never seen it offered until recently.

 

With named drivers you would need to tell the insurance company who may want an extra fee if they consider the risk increases or may even decline.

 

Roojai have offered to refund me in the past if I didn’t pass the insurance across to the car’s new owner.

[KannikaP]

3 hours ago, KhaoNiaw said:

 

It's transferred if the insurance is for unnamed drivers, though also following whatever conditions there may be regarding age.  It's not transferred if it's for named drivers. 

Really?

[JoePai]

20 hours ago, KannikaP said:

So if I sell my car, the new owner will have my name and address still on the insurance policy? Crazy system. OK, the Por ra Bor can go with the car.

No - for the voluntary Insurance you ask your insurance company to change the name/address to the new owner

You can also ask the insurance company to cancel the policy and return the remaining premium back to your bank 

[richard_smith237]

Answer:   There are two types of insurance. 

 

1) Por Ror Bor - (Compulsory insurance) - this follows the car (and usually the tax).

 

2) Private Insurance (i.e. 1st Class Insurance) - this can take varying forms

  - A: No named drivers, the insurance follows the cam

  - B: Named drivers, in which case insurance would have to be altered

 

 

It also depends if you want to 'get a refund' on the existing remains insurance. most people will not and will transfer the car with existing insurance and let the insurance company know of the transfer. 

 

 

 

[KannikaP]

1 hour ago, JoePai said:

No - for the voluntary Insurance you ask your insurance company to change the name/address to the new owner

You can also ask the insurance company to cancel the policy and return the remaining premium back to your bank 

Isn't that what I said?

[KannikaP]

1 hour ago, richard_smith237 said:

Answer:   There are two types of insurance. 

 

1) Por Ror Bor - (Compulsory insurance) - this follows the car (and usually the tax).

 

2) Private Insurance (i.e. 1st Class Insurance) - this can take varying forms

  - A: No named drivers, the insurance follows the cam

  - B: Named drivers, in which case insurance would have to be altered

 

 

It also depends if you want to 'get a refund' on the existing remains insurance. most people will not and will transfer the car with existing insurance and let the insurance company know of the transfer. 

 

 

 

So I insure my car for a year., and after 6 months decide to sell it. Are you saying that I let the new owner have 6 months insurance on my tab? No way with me, unless it is negotiated in the price.

Edited 1 hour ago by KannikaP

[ravip]

Normally the insurance is on the policy owner, hence the no claim bonus which can be transferred on the new policy when you buy another car - on comprehensive policies only.

 

I am not 100% sure, if this is international.

 

Some more info

Edited 59 minutes ago by ravip

[JoePai]

6 minutes ago, ravip said:

Normally the insurance is on the policy owner, hence the no claim bonus which can be transferred on the new policy when you buy another car - on comprehensive policies only.

 

I am not 100% sure, if this is international.

In Thailand the insurance is on the vehicle so the NCB goes with the policy to the new owner

[JoePai]

20 minutes ago, KannikaP said:

Isn't that what I said?

No, you said quote : So if I sell my car, the new owner will have my name and address still on the insurance policy

 

... I said you change the name on the policy (to the new owner) or cancel it

[jeffandgop]

When we've sold our cars, we include the First Class insurance as an incentive for the buyer to purchase our vehicles.  To do this you need to notify your insurance carrier that you've sold the car and provide a copy of the new buyer(s) ID (& there may be additional docs) to your insurance carrier so they can send the new buyer a copy of the endorsed policy in their name.