How to Exchange Old Insurance policy to Your New Car?

You would need to buy a new auto insurance policy plan if you either plan to maintain the old car along with the new car or if you exchange the current plan to the new proprietor of your old car. The article talks about how to exchange the current plan to your new car.
When you substitute your old car with a new, you can either buy a fresh auto insurance policy plan or alternative your new automobile for the old automobile under the current cover the balance term of the current plan. You would need to buy a new auto insurance policy plan if you either plan to maintain the old car along with the new car or if you exchange the current plan to the new proprietor of your old car.
What about the No Declare Reward on my current policy
The no-claim bonus is not offered on the automobile but is offered to the car owner of the automobile. While plan on a automobile can be moved among people but the no-claim bonus is unique to the plan proprietor. Hence, if you are eligible to a no-claim bonus for the old auto insurance policy plan the same can be moved to the new auto insurance policy plan you would buy for your new automobile.
There are two circumstances when it comes to maintaining the no-claim bonus.
1) If you plan to exchange the current plan on your old car to the new proprietor, then while execut ing the plan exchange do ensure to get a no-claim certification from the plan provider. The No-claim certification can be used to get a lower price on the plan top quality on your new car.

2) You can maintain the current plan on you old car and not exchange it to the new proprietor. Once you have bought the new car you can alternative the old car with the new car and either pay or get a return for the difference in top quality. The top quality differential would mostly rely on the Insurance Announced Value (IDV) of the new car which would rely on the value of the car that you bought.

Validity of No-claim certificate
If you exchange your current plan and get a no-claim certification it is important that you use the certification for declaring a lower price on the plan plan on your new car within 3 years of getting the certification. Besides, the no-claim certification can be used only if the new automobile that you purchase connected to the same classification as old one. You cannot exchange a no-claim bonus gained on a plan on a car to a plan you buy for having a professional automobile like bus.

About the Author
Get auto insurance policy on low rates along with better feature from different major companies in Indian. You can evaluate and acquire better auto insurance policy plan at Easypolicy.