India, Aug. 4 -- Submit the documentsSubmit these documents to both the insurer and the Regional Transport Office (RTO).

Step 4: Vehicle inspectionDepending on the insurer, a quick vehicle inspection may be required.

Step 5: Pay the transfer feeA small fee is charged to process the insurance transfer.

Step 6: Receive the updated policyOnce approved, the insurer will issue an updated policy in your name as the new policyholder.

Apart from legal penalties, you may find yourself without insurance cover in case of an accident. Third-party claims, although mandatory, may be delayed if policy details don't match the ownership. The previous owner could also be dragged into legal complications if the car causes damage or injury after the sale...