If you are buying a new car or selling a second hand one in the UAE, you will have to transfer the insurance policy from the old owner to the new one. This is a crucial step in the process.
The process is simple and straightforward. You just need to ensure that the documents are in order.
In order to make a car ownership transfer in Dubai, you must be in possession of all the required identification and legal documents. Once you have the required documentation, you can easily go through the car ownership process.
When transferring ownership, you will have to pay a fee. The fee depends on the type of vehicle and the plate size. For instance, a light car will cost AED 350, while a heavy car will cost AED 750.
The seller must transfer the insurance policy to the new buyer within fourteen days. He must also provide the buyer with the registration certificate and PUC. Upon receipt of these documents, the insurance company will validate the transfer.
If the owner of the vehicle does not complete the transfer within the stipulated time, he/she will be liable to penalties. To avoid penalties, you should transfer the policy to the new owner as soon as possible.
Before transferring the car, you should clear all the pending traffic fines. Otherwise, your insurance coverage will be void and you will be unable to claim for any accidents.
To transfer the car, you should be in possession of a valid Emirates ID, along with an address proof. You can apply for transfer online.