Car insurance is one of the ways to protect yourself and your vehicle in case of an accident, theft and other unpleasant situations.

Car insurance is one of the ways to protect yourself and your vehicle in case of an accident, theft and other unpleasant situations. This service is mandatory for all drivers and represents an annual payment of a certain amount for service. In turn, the car insurance company compensates for losses in the event of an event, thereby providing monetary guarantees to the owner. Read more about third party insurance definition here

Transfer of OSCPV to the new owner

When selling a car, the owner can transfer the OSCPV policy to the buyer free of charge or for a fee (according to the contract). In this case, the civil liability applies to all drivers of the car, and therefore the insurance policy continues to be valid even after the re-registration of ownership rights to the car until the expiration date. This is explained by the fact that not the owner is insured, but the vehicle itself.

Transferring the remaining funds to a new contract

This option is used when the driver bought a new car. Alienating the previous one, does not transfer the insurance to the new owner. In this case, the former owner of the vehicle must contact the insurance company to close the current OSCPV and transfer the balance of money for a new policy on another car. This is possible only if there were no insurance payments under the current OSCPV.

Termination of the OSCPV contract and payment of the remaining funds

If the former owner sells the car, but does not intend to buy a new one, or he already has an insurance policy, he can apply to the insurance company to cancel the insurance contract. In this case, the remaining funds will be returned to him.

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