How to Transfer Ownership & Car Insurance from One Person to Another9 Oct 2017
- Understand Car Insurance Name Transfer and Hidden Benefits Thereof
- A Step-by-Step Guide to Car Insurance Name Transfer
- Some Benefits that Can Be Reaped During Car Insurance Name Transfer
- How Can Bharti AXA help in Making Car Insurance Name Transfer Smoother
- Learn the Intricacies and Make an Informed Decision, Today!
Understand Car Insurance Name Transfer and Hidden Benefits Thereof
Transfer of a Car Insurance Policy from one person to another is a process that every policy holder must be aware of. Whenever you buy a used car or a second hand vehicle, the transfer of ownership from one individual to the other remains incomplete without the transfer of the Car Insurance Plan between the parties involved. Without the right information, the documents required for the same, and the benefits that can be reaped during the process, you could be missing out on a lot of essential aspects that every insurance policy holder or potential buyer should embrace.
A Step-by-Step Guide to Car Insurance Name Transfer
The first step involved in the process of Car Insurance Name Transfer is the transferring of the ownership of the car to the buyer. Some of the main documents involved in the same include the registration certificate of the car, the Insurance Certificate, Forms 29 and 30 possessing the sign of both the buyer and the present owner, address proof of the buyer, an affidavit representing the change in ownership, and a specific fee. The transfer of the insurance policy is the next step and involves aspects such as an application form for changing the name of the owner, a Valid Insurance Certificate, the updated Registration Certificate containing the buyer’s name, and the required fee.
Some Benefits that Can Be Reaped During Car Insurance Name Transfer
One of the most important aspects to remember during the process of transferring a Car Insurance Policy from one individual to another during the process of ownership transfer is the No Claim Bonus. As a buyer, you have the right as well as the opportunity to transfer the No Claim Bonuses that you have accumulated through your previous policy to the new car insurance plan that you avail through the transfer. Some of the main documents that you should keep in hand in order to ensure that your No Claim Bonuses are transferred to the new Car Insurance Policy include any document that signifies proof of delivery of car to the new owner, Forms 29 and 30, the original copy of policy as well as Certificate Of Insurance, and a request letter for policy cancellation.
How can Bharti AXA help in Making Car Insurance Name Transfer Smoother
On our web portal, you have a direct connection with our staff members who are at your beck and call at all points of time. Whatever queries and issues that might arise during the process of Insurance Policy Transfer can be communicated to them in a jiffy. If this does not solve the problem, you can connect with our Expert Team of Policy Handlers through our 24x7 Customer Care phone line, through which we have helped in the issuance of over 3.5 million policies till date. You no longer need to worry about long and complicated transfer procedures. Just leave the nitty-gritty to us, sit back and relax!
Learn the Intricacies and Make an Informed Decision, Today!
Before you embark on the intricate, but often misunderstood process of Car Insurance Name Transfer, make sure you read about the basics on the Bharti AXA web portal. Here, you can learn about the various documentation required to make the process a success, in as smooth a way as possible. Moreover, another important aspect that you can learn from us includes the various No Claim Bonus rates that an existing policy holder can avail on the basis of the number of claim-free years associated with the previous plan. This could help you avail discounts from anywhere between 20 to 50 percent of the premium amount.
Frequently Asked Questions (FAQs)
Have questions on anything and everything related to insurance? We've hand picked questions with answers that will help you understand the nitty-gritty of everything related to insurance.