How to Digitally Transfer Two-Wheeler Ownership: Step by Step Guide

Posted on: Sep 6, 2023 | | Written by:

How to Digitally Transfer Two-Wheeler Ownership: Step by Step Guide

Published on September 05, 2023. EST READ TIME: 3 minutes

Riding a motorcycle offers an exhilarating sense of freedom, combining the thrill of speed and the ability to take in as much of the surroundings as possible. Apart from being a lot of fun to ride, they are quite efficient and affordable as well. Makin them an obvious choice for a lot of people. And to make sure that your riding experience is not marred by any unforeseen events, it is highly recommended to purchase a bike insurance policy.

As the two-wheeler market in India has grown over the last few years, so has the pre-owned two wheeler market. In other words, you have a much better chance of scouting a bike that you want and within an acceptable price range as well. And there are a lot of benefits to buying a pre-owned bike as well. For example, you need not worry about depreciation, comprehensive bike insurance is more affordable, and it might have even better resale value.

A crucial part of owning a pre-owned bike is understanding the process of how to transfer two wheeler ownership. After all, you will be the new owner and you would want all the documents in your name.

Steps to digitally transfer the ownership of a two-wheeler

If you are wondering how to transfer two wheeler ownership, we have curated an easy to understand guide for the same.

1. Gather documents

It should not come as a surprise that to complete the ownership transfer, you will need your hands on some documents of the bike. Here is a list of documents that will be needed for the transfer of ownership.

• Original registration certificate of the bike.

• Bike insurance policy.

• Forms 29 and 30 were duly filled out.

• Pollution Under Control certificate.

• The engine and chassis number of the bike.

2. Vahan portal

To proceed with the transfer, you will need to log in to the Vahan Seva Portal and enter the registration number of the bike as well as its chassis number. Once you have logged in to the portal, you will need to look for the Transfer of Ownership options. On the page, you will find an application form that you need to fill out.

3. Upload documents

For the next step, you will need to upload the documents to the portal. You can upload scanned copies of the documents mentioned above for the same.

4. Fees

There is a fee that you will need to pay for the change of ownership. You can make the payment using net banking, credit card or debit card.

5. Submit the form

Once you have verified all the details, you can submit the application. Once the RTO reviews and processes the application, they will send the new registration certificate of the bike to your registered address. In some states, you might have to visit the RTO to collect the new RC.

Benefits of digitally transferring two-wheeler ownership

Once you are aware of the process of how to transfer two wheeler ownership, there are a few perks of getting the transfer done online. Here are the benefits.

1. You can complete the entire transfer process from the comfort of your home. It can be particularly helpful if you are relocating or have some other high priority work.

2. There is a lot of transparency when it comes to the online process. You can even track the status of your ownership transfer application.

3. You do not have to interact or deal with middlemen or brokers to complete the process.

4. Since the process is entirely digital, it is rather fast.

Why two wheeler insurance is important?

On completing the transfer of ownership, there is one other important document that you need to take care of before you can start riding your bike. It is the bike insurance policy. If you are not too sure about why you must get your bike insured, here are some prominent reasons for it.

1. Protection against accidents

If your bike is involved in an accident and you have opted for comprehensive bike insurance , the insurer will cover the repair costs to your bike. On the other hand, if you have only third party insurance for your bike, it will cover damage and injuries incurred by third parties due to the accident.

2. Law mandated

The Motor Vehicle Act of 1988 requires all two-wheeler owners to purchase a policy for their bikes if they want to ride the bike legally on public roads. Failing to adhere to this will translate to a hefty penalty.

3. Theft

The theft of vehicles in India isn't an uncommon incident. To avoid this, you can take precautions such as parking the vehicle at designated areas, adding security enhancements, using additional locks on the wheels, etc. However, comprehensive bike insurance will offer complete peace of mind. If the bike is stolen, the insurer will compensate you with the IDV in bike insurance .

4. Vandalism

Riots and vandalism can cause a lot of havoc to the public and public properties. If your bike is caught at such a crossroads, it can lead to a lot of financial risk on your part. However, having a comprehensive policy will ensure that you receive the IDV in bike insurance if your bike is destroyed beyond recovery.

5. Personal accident

You can opt for the bundled personal accident cover along with a bike insurance policy. In the event of an accident, the insured can claim the policy to receive a settlement for the damages or injuries that they have incurred. It includes medical expenses, compensation on disability or demise of the insured.

6. No claim bonus

Comprehensive bike insurance policies come at a slightly higher premium than a third-party only policy. However, they offer much better coverage and a lot of additional perks. One of these perks is a no claim bonus. If you do not file a claim, you stand to receive a discount on policy renewal. And the discount can range from 20% for the first year to 50% for the fifth consecutive year.

Conclusion

The above steps will you understand how to transfer two wheeler ownership. If you are planning to buy a pre-owned bike, it is essential to transfer ownership at the earliest using the above steps. You can even transfer the bike insurance policy from the previous owner or buy a new one at the earliest. It will not only protect you from paying hefty penalties but also offer a lot of financial protection.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales

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