On sale and transfer of vehicle the bonus can be transferred to the new car. The bonus can be kept on hold till a period, which is a maximum of three years and the benefit of the same can be used within three years on any car being bought in the same name.
The seller should take the no-claim bonus-reserving letter from its insurance company to be used for the next car. The buyer of the old car will not get any benefit of no-claim bonus on purchase of the car.
Categories: General Insurance