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Find out more about transferring your car insurance and when you may be able to do so in Savvy’s handy guide.
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When it comes time to sell your current car and buy another one, it’s important to know what to do with your car insurance policy. If you’re in this position, it’s worth knowing how transferring your policy to a new vehicle works.
In Savvy’s informative guide, we'll explain the steps involved in transferring your car insurance policy, as well as the documents you may need to do so and what the implications of transferring your policy may be.
Transferring your car insurance to another vehicle involves a few simple steps. Here's a step-by-step process to guide you through the transfer:
Remember, it's crucial to notify your insurer promptly to ensure continuous coverage during the transfer process. Failure to update your policy details promptly could result in gaps in coverage or potential claims issues.
To transfer your car insurance to another vehicle, you’ll typically need the following documents:
It's important to contact your insurance provider directly to confirm the specific documents they require for the transfer. They’ll guide you through the process and ensure you have all the necessary paperwork to facilitate a smooth transfer of your car insurance.
In most cases, car insurance can’t be directly transferred to another person. When you sell your vehicle, the insurance policy generally remains with you, and the new owner will need to obtain a new insurance policy in their name to ensure proper coverage.
However, compulsory third party (CTP) insurance is linked to the vehicle, rather than the driver, meaning your CTP can be transferred to the new owner of your car. It’ll be the new owner’s responsibility to ensure the vehicle is adequately covered by CTP insurance, as driving without this type of insurance is an offence.
You may be able to transfer your car insurance when you move to a different state within Australia. However, the process may vary depending on the insurance provider and whether they offer protection where you’re moving, as well as if your new car is eligible for cover.
Transferring your car insurance from Queensland to New South Wales, for example, may involve some administrative steps, but it’s generally a straightforward process. By promptly notifying your insurance provider and following their instructions, you can ensure a seamless transition of your car insurance coverage to your new state of residence.
It's a slightly different story for CTP insurance, which will need to be purchased in conjunction with vehicle registration in your new state or territory. This may involve cancelling your current coverage to take out a new policy.
Remember, it's essential to update your car insurance policy as soon as possible after your move to maintain continuous coverage and comply with the legal requirements of the new state.
Select your car make and find out how much it may cost to insure, read helpful guides and compare quotes.
Disclaimer:
Savvy (ABN 78 660 493 194, ACR 541 339) provides readers with a variety of car insurance policies to compare. Savvy earns a commission from our partnered insurers each time a customer buys a car insurance policy via our website. All purchases are conducted via our partners’ websites. The integrity of our comparison service is unaffected by our partnerships with those businesses and our effort remains to bring further brands that do not already use our comparison service onboard.
Savvy’s comparison service includes selected products from a panel of trusted insurers and does not compare all products in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy. We always recommend readers to consult the Product Disclosure Statement (PDS) of different policies before purchasing your car insurance.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.