Change car insurance from full to third party to sell car
By AussiePaki •
Hi all, my car is fully insured by General Takaful. I am planning to sell my car to my friend. I was told that I cannot just simply go to Traffic Police Department and transfer car registeration (Istimara) in his name as the car is fully insured. I first need to go to General Takaful office and convert from full insurance to third party insurance and then I can convert.
Has anyone been through this process of insurance for car selling purpose? If yes, can you please explain how long this process takes overall? I need to sell the car urgently. Will it be possible that this conversion from full insurance to third party in my name can happen by just appearing there with my Istimara or there is a whole long painful process to it? Thanks
AP, It 's great to note that you have nice people around who give respect to you & trust your driving style and vehicle condition / maintenance standard etc ......
As Acchabaccha has explained very clearly ..... Both of you { seller + buyer } should go to any car insurer office , they will tranfer the insurance to your good friends name { 1 hr } ... take that paper to a traffic dept ... to process the Istimara Transfer { 1 hr } .... so in 3 hrs you can come back to home / on duty ...
Take full money at the same place ..... where you give him the key ... Take a pic of your car with your mobile .. cheers .... Fri , 14.03.2014 , 10.16 hrs ...
I think the process is very simple. Ask your friend to buy a third party insurance in his name for this car and then go to the police for the transfer of the car. I think this should be acceptable to them. After the car has been transferred you can cancel your insurance cover. Your friend could also take a full insurance for the car rather than a third party if he wishes. However, you can check on this with your insurance company people who will guide you best.