How to Transfer Bike Insurance from One Person to Another?
If u want to sell your old bike to purchase a better model? A lot of new bikes arrive in market every year,boasting impressive features and specifications.Every rider needs an update & want the best option.
Selling a bike is always beneficial, as it allows you to recover a part of your considerable expense for the new ride. Further, you can always find consumers looking for second-hand bikes at reduced prices.While selling your older two-wheeler, do not forget about transferring your insurance policy to the bike’s future owner. While most people remember to transfer their vehicle registration, they should also keep in mind the importance of bike insurance transfer.
Avoiding undertaking such a transfer can lead to significant legal hassle for both you and the bike’s new owner if the concerned vehicle is involved with accidents in the future.
What is Bike Insurance Transfer?
Bike insurance transfer means transferring your bike insurance policy in the name of the bike’s new owner to whom you’ve sold the bike.This transfers are necessary while selling & buying an old two-wheeler.
You must also alert your insurance company of such transfers so that they can align the paperwork accordingly & the new owner can use the insurance