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Old Dec 30th 2017, 8:36 am   #1
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Default Second-hand car - insurance transfer

Just been offered a second-hand car at a really good price - will probably take it.

However, when they say that there's x months left on the insurance, what happens? Do we transfer the insurance to our name? Do we not complete the transfer until the insurance expires?

Any thoughts welcome please.
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Old Dec 30th 2017, 8:43 am   #2
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Default Re: Second-hand car - insurance transfer

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Originally Posted by snikpoh View Post
Just been offered a second-hand car at a really good price - will probably take it.

However, when they say that there's x months left on the insurance, what happens? Do we transfer the insurance to our name? Do we not complete the transfer until the insurance expires?

Any thoughts welcome please.
The insurance becomes invalid when the ownership is transferred.
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Old Dec 30th 2017, 9:48 am   #3
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Default Re: Second-hand car - insurance transfer

Quote:
Originally Posted by snikpoh View Post
Just been offered a second-hand car at a really good price - will probably take it.

However, when they say that there's x months left on the insurance, what happens? Do we transfer the insurance to our name? Do we not complete the transfer until the insurance expires?

Any thoughts welcome please.
Not any good to you, you will need to take out your own insurance.
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Old Dec 30th 2017, 11:36 am   #4
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Default Re: Second-hand car - insurance transfer

I've now found out what I previously thought. You CAN transfer insurance if both parties agree - it's called (subrogate in Spanish).

Change of ownership of a car in Spain | Velasco Lawyers
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Old Dec 30th 2017, 1:02 pm   #5
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Default Re: Second-hand car - insurance transfer

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Originally Posted by snikpoh View Post
I've now found out what I previously thought. You CAN transfer insurance if both parties agree - it's called (subrogate in Spanish).

Change of ownership of a car in Spain | Velasco Lawyers
Yes theoretically but the Insurance company will still have to approve you as the new owner/driver. So it is worthwhile checking with the existing owner's company before actually paying for insurance that you may not receive.
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Old Dec 30th 2017, 1:05 pm   #6
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Default Re: Second-hand car - insurance transfer

I have heard that transfer of car insurance is possible in Spain because (unlike in the UK) it is the car that is insured, not the driver(s). Our Spanish car insurance covers the car on a fully comp basis if driven by non-named drivers, even if they have no car insurance of their own, whereas in the UK anyone other than named drivers are covered only on their own insurance for driving other people's cars - IF their own insurance includes that, in which case it's usually on a third party only basis.


However, the existing policy will still have terms and conditions - third party only or fully comp, amount of excess, restrictions on age of drivers etc. Our Spanish policy covers any other driver on the fully comp basis provided they are over 24 (I think) and have held a full licence for 2 years. So our son is covered even though he has no car/insurance of his own: it would be illegal for him to drive our UK insured car.


So it's worth checking that the existing insurance is suitable for your needs, and that the premiums are competitive.


I'm no insurance expert, and as ever, stand to be corrected by anyone more knowledgeable than I.
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Old Dec 30th 2017, 2:27 pm   #7
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Default Re: Second-hand car - insurance transfer

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Originally Posted by Loafing Along View Post
Yes theoretically but the Insurance company will still have to approve you as the new owner/driver. So it is worthwhile checking with the existing owner's company before actually paying for insurance that you may not receive.
but that's the point, I'm not paying for insurance - it comes with the car.

Obviously, one has to check cover etc. but I thought that was a given.

Once the insurance expires, then I will look around and ask for quotes as per usual. Getting a few months free cover is never a bad thing.
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Old Dec 30th 2017, 2:49 pm   #8
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Default Re: Second-hand car - insurance transfer

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Originally Posted by snikpoh View Post
I've now found out what I previously thought. You CAN transfer insurance if both parties agree - it's called (subrogate in Spanish).

Change of ownership of a car in Spain | Velasco Lawyers


Yes - you are possibly correct.
I sold our motorhome here this year and transferred the remaining premium balance (approx. 9 months) to the buyer who wished to continue insuring with my company - Allianz.
As I rather lost the plot in Spanish and didn't fully understand the process as discussed between my gestor and the buyer, I can't confirm what you say absolutely.
I believe it was just the balance of outstanding premium and I signed a form giving consent to Allianz to pass the credit to the buyer.
I believe they simply started a new policy - because its very complicated and more problematic to amend an existing one.
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Old Dec 30th 2017, 3:22 pm   #9
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Default Re: Second-hand car - insurance transfer

If you buy the car snikpoh, I'd be interested to hear how it goes / the procedure etc.
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