Originally Posted by AtheK
Hi, i am looking to buy a pre owned bike, and the owner is abroad. Bike has not been used much since last two years, and only used for run around to keep the engine running, and taken to showroom for service. The problem is insurance expired two years back and owner never renewed it.
Now my question is since i will need the insurance to have bike transferred to my name, how does the owner get the insurance done. He is staying abroad. Will a physical inspection be required before a cover note is issued, and will there be any penalty for not having the bike insured.
Please advise what is the best way to move forward.
There won't be any penalty involved except for 0 % NCB. AFAIK physical inspection is needed, however some companies now a days are doing with a self recorded video of the motorcycle. Best way I can see is get a cheap third party insurance done and once vehicle is transferred to your name, you can get a fresh policy with all add-ons.
Another option is to do a proper comprehensive insurance for the bike, once the bike is transferred to your name, you can apply for transfer of insurance.