People tend to look for various options when they're thinking about buying a vehicle. Often, the situations don't allow for a brand-new purchase which is why people tend to shift towards second-hand vehicles. Now, any vehicle would require insurance since accidents or thefts can happen at any time; people need to be protected. Claiming insurance can be tricky when it comes to second-hand bikes. We should take a look at all the information that should be kept in mind.
One of the major rules that people generally are not aware of is that the insurance should be transferred for the bike within 14 days of the purchase. The vehicle's insurer should be notified of the sale. They might ask for the submission of the following documents:
Nowadays, insurance can be claimed online by submission of scanned documents. Visit the website, upload the documents, wait for verification and pay the fee for insurance.
Also Read: Most Expensive Bikes in the World: From Vintage Collectibles to a Sculpture on Wheels - List 2022
There are 5 major tips that should be followed by the owner of the second-hand vehicle:
The most obvious thing here is that as soon as the 14-day window closes, the insurer is legally allowed to shut down the owner's request. If the traffic police catch the owner without the document, they could be fined. In case of any theft incidents or accidents, the insurer will deny any claims for insurance money.
