change of ownership

[guido]

patanong lang mga pre, nabasa ko rin na ibang threads.

kung registered na yung car for the current year and i-transfer mo yung name sa new owner, kailangan ba ng bagong tpl insurance? kasi yung CR magbabago di ba? yung OR as is (current year named in the previous owner)?

[the_wildthing]

Yes, you will need new insurance. (According to the LTO web site, you will need an endorsement from the insurance company, but that's probably the same as getting a new one.)

If you need LTO assistance at the QC East Ave ofc I can refer you to the guy who arranged mine. PM na lang.

[j_avonni]

The old owner, who is the current name assured in the policy, should request the insurance company to endorse the policy to change the name of the assured in favor of the new owner.

[guido]

salamat sa replies. follow up question lang

yung OR ba mag-issue rin sila ng bago? also ang tpl insurance ba mas mura since less than a year na coverage?

[j_avonni]

Kung endorsement lang, the insurance would not issue an OR since no additional payment would be made. TPL insurance, I think, is issued on a 1-year term - no less.

[guido]

thanks sir, pero i was referring to the OR ng LTO since yung CR may bago after ma-transfer.

[j_avonni]

thanks sir, pero i was referring to the OR ng LTO since yung CR may bago after ma-transfer.

LTO would issue OR corresponding to what you would pay.

[guido]

pre, thanks ulit!