Bike Insurance 933 views October 12, 2018

The 2 wheeler insurance that you buy to cover your vehicle can be transferred to its new buyer subject to the condition that the seller of the vehicle informs about the same in writing to the insurance company. For transfer, a fresh proposal form needs to be filled in. The seller has to pay a nominal fee charged by the insurer during transfer of the policy in addition to the pro rata recovery of the No Claim Bonus (NCB) from the date of transfer till the expiry date of the policy. Also, transfer of the ownership in comprehensive policies has to be intimated to the insurer within a span of two weeks from the date of transfer, failure of which no claim would be entertained for “Own Damage” caused to the vehicle owing to an unfortunate event.

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