Insurance Renewal Query

[patil]

I have one query regarding vehicle insurance renewal. This query came after looking at pattern of usage of vehicles mainly 2-wheers in our country. We have seen that many vehicles are owned by one person but used by other person without any financial gain/loss; this is seen particularly in close circle of relatives and friends. So below is the scenario:

Vehicle: 2 Wheeler
Purchase year: 2012
Owner of vehicle (on paper – RC Book): Person X
Person using vehicle (on daily bases): Person Y (BTW person X and Y are related but no financial gain/loss transaction with respect to this vehicle)

Say a two wheeler purchased in 2012 is up for renewal and in last two policies the insurance document captures details of vehicle owner (Person X - Name, DL No, DOB, Address, etc) but note that vehicle owner is not at all using this vehicle.

Question is now if I want to renew the policy, then can I give details of vehicle user (person Y) and still the policy is valid?

Basically vehicle insurance is linked : to vehicle ? vehicle + owner ? vehicle + user ? vehicle owner ?

 

[vijay]

Re: Insurance Query

Till i know now you can get the policy as well as on RTO name changed on the person you want without the need for the sales deed tobe provided which used tobe mandatory before.
You need to submit the necessary documents like address proff and id card along with a passport size photograph of the person in whose you want to get the name transferred on.

 

[generalmax]

I have one query regarding vehicle insurance renewal. This query came after looking at pattern of usage of vehicles mainly 2-wheers in our country. We have seen that many vehicles are owned by one person but used by other person without any financial gain/loss; this is seen particularly in close circle of relatives and friends. So below is the scenario:

Vehicle: 2 Wheeler
Purchase year: 2012
Owner of vehicle (on paper – RC Book): Person X
Person using vehicle (on daily bases): Person Y (BTW person X and Y are related but no financial gain/loss transaction with respect to this vehicle)

Say a two wheeler purchased in 2012 is up for renewal and in last two policies the insurance document captures details of vehicle owner (Person X - Name, DL No, DOB, Address, etc) but note that vehicle owner is not at all using this vehicle.

Question is now if I want to renew the policy, then can I give details of vehicle user (person Y) and still the policy is valid?

Basically vehicle insurance is linked : to vehicle ? vehicle + owner ? vehicle + user ? vehicle owner ?

The Insured vehicle must be in the name of the owner ,whose name is in RC.
In case of an insurance claim the papers need to be signed by the owner ,even if somebody else was using the vehicle.In a court case,the case will be in the owners name.This is why the vehicle name transfer is important .

No insurance company will give insurance to anyone other than the owner (name in RC).
So the question is void.

 

[patil]

The Insured vehicle must be in the name of the owner ,whose name is in RC.
In case of an insurance claim the papers need to be signed by the owner ,even if somebody else was using the vehicle.In a court case,the case will be in the owners name.This is why the vehicle name transfer is important .

No insurance company will give insurance to anyone other than the owner (name in RC).

So the question is void.

What if insurance is renewed online ? There is no check for it in many of online portals.

 

[generalmax]

Online portals will check documents ,after they issue the policy and they will cancel it if any misappropriation is observed.You will pay the money and then you will be waiting for refund.
Why worry over all these ? Do the insurance in the owners name .