Change of ownership: question on insurance

[miked]

hello mga ka-tsikot!

ittransfer ko na yung ownership ng binili kong sasakyan. makukuha ko na pnp clearance by tuesday direcho na sa lto for the confirmation.

pero katanungan lang. dahil kadalasan bumibili ng insurance bago pa man iparenew rehistro ang sasakyan, pwede na bang ipangalan sa akin yung insurance kahit na hindi pa naissuehan ng certificate of registration under my name (kasi nga irerenew pa yung rehistro).

salamat

[rodetor]

Pwede yun ipangalan sa iyo ang insurance sa pagkaka-alam ko. For transfer of ownership ang renewal mo, sabihin mo sa insurance pagkukuhanan mo, at hihingin naman sa iyo yun mga pnp clearance, deed of sale at photocopy ng CR at OR. Details of the vehicle from the recent CR lang ang kukunin to type in the insurance but your full name and resident address ang i-type nila sa insurance form. After that and emission test, LTO transaction process na lang.

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[Juan Martinez]

hello mga ka-tsikot!

ittransfer ko na yung ownership ng binili kong sasakyan. makukuha ko na pnp clearance by tuesday direcho na sa lto for the confirmation.

pero katanungan lang. dahil kadalasan bumibili ng insurance bago pa man iparenew rehistro ang sasakyan, pwede na bang ipangalan sa akin yung insurance kahit na hindi pa naissuehan ng certificate of registration under my name (kasi nga irerenew pa yung rehistro).

salamat

may magaling dito sa insurance, but pls permit me to give my opinion.
first, issuance of CR under your name by the LTO does not operate as the operative fact that vest ownership of the car to you BUT the delivery of the car to you coupled with the execution of the deed of sale by the original owner in your favor.
second, in property insurance, it is necessary that you have insurable interest over the property (car in this case) at the time the contract of insurance is entered into and at the time of the loss.
sa madaling sabi, dahil ikaw na yung may-ari ng sasakyan when the seller executed the deed of sale, puede ka nang makabili ng insurance sa inyong sasakyan simply because you already have an insurable interest over it even if the LTO has not issued the CR under your name.

[miked]

ok salamat po sa inyo

[1D4LV]

imho, ang iniinsure mo dyan is yung oto so if nabenta mo na yung oto, susunod yung policy na sa nakabili ililipat.... although you have to have the policy changed to the new owner also.

[_Qwerty_]

when i renewed my insurance (company car) transferred to my name, the insurance asked for the CR under my name before they can issue the insurance for the same car, otherwise under pa din nang company lalagay nila..

[Juan Martinez]

^yes. depende na yan kung anong policy ng insurer or insurance company.

[Pidel Polano]

thank you for this tip it is very helpfull

[geekgurl]

Mga boss,

I am currently in the US at ibebenta ko na kasi yung kotse ko sa friday at may buyer na, kakilala ko lang din. Pano ba yung procedure sa paglipat ng car insurance policy sa new owner? Pwede ba ako magprocess thru email or phone call sa agent? Sana meron from Standard Insurance Co, ang makasagot.

Thanks in advance sa magrereply.