• How to Transfer Two Wheeler Insurance?

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    Constituents of Bike Insurance Policy Process To Transfer Bike Wheeler Insurance Two Wheeler Insurance Online Benefits of Transferring Insurance

    Overview about How to Transfer Bike Insurance?

    Two wheelers remain the smartest mode to commute when it comes to cutting through the dense traffic on Indian roads. However, they are also more vulnerable to road accidents compared to other modes of transport. This is why, getting your two-wheeler insured is the most important thing to do to ensure continued protection from losses resulting from accidents and other hazards.

    How to Transfer Bike Insurance?
    How to Transfer Two Wheeler Insurance?

    While buying a two-wheeler insurance is mandatory by law, most people do not know what to do with the insurance policy while they sell off their vehicle or transfer the ownership to another person. A policyholder must be aware of the basic process of transferring their insurance policy and to retain associated benefits of the same.

    When you sell your old scooter or bike to get a new one, the whole transfer process involves transferring the ownership of the vehicle and transfer of the insurance policy while informing the RTO on the sale of your vehicle.

    Though two wheelers are the smartest mode of transport when it comes to avoiding dense traffic, given the rickety state of Indian roads, two wheelers are more vulnerable to road accidents than other vehicles. To ensure continued protection of your bike/scooter from accidents and other dangers, it is very important to not only buy a comprehensive insurance cover, but also renew it on time. A standard two wheeler insurance policy covers your two wheeler from a range of unforeseen dangers, threats and risks.

    It is of utmost importance for policyholders to know the basic terms of their two wheeler insurance policy. This piece of information comes in handy renewing the policy, and also while transferring an insurance claim of the vehicle.

    Constituents of A Two-Wheeler Insurance Policy

    Most of the two wheeler insurance providers offer insurance policies that mainly constitute two important parts. The first part contains important details such as the name of the policyholder, phone number, and address. It also records the policy number, policy issue date, term of the policy, and location.

    The second part comprises details such as vehicle registration number, model and make of the vehicle, year of manufacture, engine displacement capacity, coverage, IDV, engine and chassis number, and more.

    Process To Transfer Your Two Wheeler Insurance

    1. While transferring your two wheeler insurance policy, the policy has to be transferred in the name of the transferee.
    2. The transferee needs to apply in writing within a specific time with documents relating to proof of vehicle delivery.
    3. The documents and details required for the process are the RC of the vehicle, the date when insurance was transferred and the details pertaining to previous insurance policy.
    4. The name of the previous policyholder and previous vehicle owner, policy number and date of insurance are also to be submitted to the insurer to help them make necessary changes in the records and issue a fresh certificate of insurance.

    Two Wheeler Insurance Online

    Third-party premium is taken into consideration for the purpose of premium calculation. The premium is calculated under the own damage and third-party premium section. Own damage section is for the insured two-wheeler and accessories. It will also show the discounts as applicable, for instance, No Claim Bonus, etc. Hence, to put it simply, third party section shows insurance premium amount for third party coverage.

    Whenever you dispose of your old two-wheeler to make way for a better and newer mode of commute, there are certain things you should be careful about. Transferring the ownership of your old vehicle also involves correctly transferring all the associated documents to the new owner.

    Benefits of Transferring Your Insurance Policy

    A lot of people assume end of responsibility once they sell their two-wheelers. However, there could be legal complications and ambiguities if the paperwork of the sale is not given the right attention. The process may seem like a lot of work but carries a lot of importance to prevent yourself from any liabilities that may result from the actions of the new owner of the vehicle. While it is important to handover all vehicle related documents to the buyer, it is also important to transfer the insurance policy. The same may have following benefits:

    • Guarding Against Future Liabilities – In case the new owner of the vehicle causes a damage to a third-person or their properties and a third-party claim has to be filed. Now if you haven’t transferred the ownership of your vehicle and the insurance policy, you would be named in your policy and will be held legally liable. To prevent yourself from such troubles, you must ensure that all the documents including the insurance policy are properly transferred to the buyer of your old vehicle.
    • Withholding the No Claim Bonus – If you have not made any claims on your two-wheeler insurance policy during the preceding year, you are eligible to get a No Claim Bonus (NCB) from your insurance provider. NCB is an incentive offered to you by your insurance provider for riding safe and making no claims. When you transfer the ownership of your vehicle, do inform your insurer about the same and collect a No Claim Bonus Certificate which will help you avail discounts on your premium the next time you buy a two-wheeler insurance policy.

    While selling your old two-wheeler to any person, be sure that you complete all the paperwork, inform the RTO through the right process and transfer all the relevant documents including your insurance policy to the buyer of your motorcycle or scooter.

    Two Wheeler Insurance Online

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    How to Transfer Two Wheeler Insurance ? Reviews

  • Page 1 of 50 1 2 3 4 5
    • New India Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have been using my two wheeler insurance from the NEW INDIA ASSURANCE since 7 years. I had no claiming experience with my two wheeler insurance. Policy coverage is good and also the plan benefit is good in my insurance. When it come to the premium i am satisfied.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Jun 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the Bajaj Allianz. I am paying the premium of 1100, I do not have any claim experience with the policy. I make payments online which is comfortable for me. I never had any issues so far and I'll have to wait and see how they respond to my request in future.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2018
    • Reliance General Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Reliance from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. A premium of Rs 1200 has to be paid every year for this insurance policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The policy coverage is good with this policy and I have got the Two wheeler insurance policy around 2 months ago. The customer support service and the response is good with the BAJAJ ALLIANZ GENERAL INSURANCE company. I have paid Rs,2500 to get this policy and it is valid for 2 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I renew my two wheeler insurance policy with the ICICI LOMBARD for the past 4 years. I pay Rs,1200 to renew the policy last time. This policy has the tenure of one year. The plan benefits and the policy coverage is average with the ICICI Lombard two wheeler insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • United India Two Wheeler Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have insured my two wheeler with the UNITED INDIA INSURANCE company . I am renewing my policy for the past 8 years with the same UNITED INDIA INSURANCE company , because they give intimations on time , at times they miss to send the reminders.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 13, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good"
      0.5 4.5/5 "Excellent!"
      I have insured my two wheeler with the Bajaj allianz general insurance company. The coverage value is not depreciated. Papers are on hardcopy end, which was released. I am really happy with the Bajaj allianz general insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have two wheeler, which got insured with the ICICI Lombard general insurance company. Customer service is okay one for me with them. Coverage value is good one with the ICICI lombard general insurance company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have insured my two wheeler with the Bajaj allianz general insurance company. I would like to say that the customer service is good one and the coverage value is around 1 lakh Rupees. I really felt happy with the Bajaj Allianz general insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2018
    • Reliance General Two Wheeler Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have two wheeler, which got insured with the Reliance general insurance company, I have got it before twenty days of time. I would like to say that the customer service is bit slower one. I am happy with the till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken Bajaj Allianz two wheeler insurance from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a premium of Rs 2000 for this insurance policy and it has to be renewed every year.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 11, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Bajaj Allianz from last 2-3 years and it is one of the good policy. I have no claim experience so far from this insurance policy. A premium of Rs 1500 has to be renewed every year for this insurance and the coverage value is good in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Bajaj Allianz from last 2-3 years and it is one of the good policy. I have no claim experience so far from this insurance policy. A premium of Rs 1500 has to be renewed every year for this insurance and the coverage value is good in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 3 years, i am not aware of the premium amount for this insurance policy. I have not claimed anything so far from this insurance policy. I am happy with the coverage value of this two wheeler insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 11, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a premium of Rs 2000 for this insurance and has to be renewed every year.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 11, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The IFFCO TOKIO GENERAL INSURANCE has insured my two wheeler and I have got the vehicle which has the insurance of good plan benefits and the better coverage with it. I have paid Rs,1200 to get this policy. I would say it is a god service which we get from the IFFCO TOKIO GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 11, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Choose Better policy other than ICICI"
      0.5 2.0/5 "Expected more"
      I have got this two wheeler insurance from the dealer. I never met the insurance provider. They have wrongly updated my name in the insurance policy. I have paid the premium of Rs, 1000. They have never explained the benefits and features of this policy. I have paid the insurance by cash. Cashless claim is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I have two wheeler insurance policy with the ICICI lombard general insurance company. Its very new bike and the customer service is good one, also the coverage value and premium value is fine one too. Everything is better one with the ICICI Lombard general insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Need to explore"
      0.5 2.5/5 "Just OK"
      I am holding the two wheeler insurance policy with the ICICI Lombard from 2017 November onward. I am paying the premium through one of my friends. Premium amount is nominal one with the ICICI lombard general insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have insured my two wheeler with the ICICI lombard general insurance company. I would like to say that the services are good one with them and the coverage value is also fine one too. Response is fine one with thr ICICI lombard general insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2018
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