Selling your old vehicle or bike when getting a new one is common. This process involves changing ownership and transferring ownership, and the Bajaj Allianz bike insurance policy to the new buyer requires some paperwork. Many find it challenging due to a lack of awareness, but it’s easy if you know the required documents. Here’s a checklist for transferring ownership.
Registration Certificate
The vehicle’s registration certificate is the primary and most crucial document. It is necessary to give the new owner the RC book. After confirming the vehicle’s information, the new owner would submit the RC book to the RTO and request that the ownership information be updated.
Insurance Document
Every vehicle is covered by insurance, and you can buy this bike insurance online as well.
Bajaj Allianz’s two-wheeler insurance price may be more cost-effective if obtained online.
When the vehicle is sold, this coverage must also be transferred to the new owner. Transferring a motorbike or vehicle insurance policy is simple. You can submit a request to your insurance provider asking them to transfer ownership of the insurance policy. The insurance provider would confirm all the information and change the policy owner to the purchaser. However, you can keep your accrued no-claim bonus. This bonus can be applied to the insurance coverage of a new vehicle you purchase to replace your old one. Obtain a No Claim Bonus Certificate from your insurance company to transfer the bonus. The certificate can then be provided when purchasing a new policy to transfer the old policy’s no-claims bonus. You can
get a bike insurance check online to obtain it. *
Other Forms Needed
To change the ownership details, you must obtain specific forms from the RTO, fill them out, and submit them with the RC book. The following forms are necessary:
- Form 28, which is the No Objection Certificate
- Form 29, which is the Transfer of Ownership form
- Form 30, which notifies the RTO of your intention to transfer your vehicle
- Road tax card
Every vehicle must pay road tax, and you must provide the buyer with the road tax card when transferring ownership.
Address Proof/Latest Electricity Bill
Include an address proof document, such as the latest electricity bill, as part of the required documentation for the ownership transfer process.
PUC Certificate
All vehicles older than six months must have a PUC (Pollution Under Control) certificate. The PUC certificate for your vehicle should be given to the buyer. The buyer may use the certificate in the future if it is valid. These are the primary documentation needed when selling your vehicle to someone else. Have all these documents on hand to ensure timely due to paperwork during the sale.
However, these are a few things that you must keep in mind. These include the following:
- The RTO must always be notified whenever there is a change in ownership.
- Also crucial is the original documentation from your insurance policy. Keep your original policy close at hand even though the insurance certificate does the work.
- The RTO and Bajaj Allianz bike insurance would require the buyer’s identity proof and additional KYC (Know Your Customer) documents to complete the transfer. The buyer’s
- documents must be present for ownership to transfer.
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
