In the event of a used car sale, the insurance policy has to be transferred to the new owner within 14 days of the date of sale.  In case there is a no claim bonus on your car and you plan to sell your car, you have to intimate the insurance company. The no-claim bonus will be transferred to the account of your new car, if you purchase another car within three years.

For new cars, the tariffs are the same across all four public sector general insurance companies. They are governed by the laws of India. However, there are several private players like Kotak Mahindra, Bajaj Allianz, ICICI Lombard, and others. These companies have their own individual system of tariffs or premiums. Some have insurance policy that is valid for one year only. The insurance policy has to be renewed within the period of the existing policy or else the liability falls on the car owner for any damages caused during this period.