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  1. Yogesh
  2. Finance, Insurance
  3. Thursday, September 12 2019
Hi Gagan, I like your reviews and suggestion on automobile, please help me with insurance query. I bought a used car, should I transfer the insurance with existing company or buy from new. Checked the quote buying from new insurance is decreasing the IDV. Low IDV will create any issue while resale? Please suggest.
Admin Accepted Answer

Insurance IDV has no impact on resale value.
It matters only a novice who possibly is buying car for first time or know little about used car market by getting impressed with car IDV else it has no impact

Also, is recommended to continue by transferring existing insurance from seller as the premium already paid, only NCB recovery part and facilitation charge needs to be borne which is relative less. No need as such to buy new policy when the car is already covered by an Insurance company

Hope should help !!

  1. more than a month ago
  2. Finance, Insurance
  3. # 1
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