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Transfer of CTP when selling bike?

Discussion in 'General Motorcycling Discussion' started by NoFearNick, Feb 17, 2011.

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  1. Howdy all,
    I did a little search and nothing really relevant came up.

    I was wondering when you sell your bike and transfer registration, can you also transfer the comprehensive third party or third party property insurance with it?

    I was under the impression that you couldn't, but I've seen a few people selling bikes and stating that it comes with CTP, so now I'm confused. It doesn't make much sense to me because the CTP cost is based on personal details and no two peoples details are going to be the same, so how could you possibly transfer it then?

    On the same note, is it possible to transfer CTP from one bike to another? Say if I sold my current bike and bought a new one, would I have to buy a whole new CTP policy?
  2. When you sell or buy, the CTP policy stays with the motorcycle until next due date. (RTA transfer advises CTP provider on new owner's behalf).

    At that stage the current owner will receive a letter from the insurer, offering the renewal at full tilt pricing.

    You then either pay and curse with that provider, or shop it around, then pay and curse.

    The circumstances of the CTP pricing, (a BS system), are only taken into account at next renewal. Another hole in the storyline of CTP in NSW.

    Any Third Party Property policy or comprehensive policy is the responsibility of the current owner. Most companies will let you transfer these policies to your next bike, with appropriate changes to cost depending on the bike. That stops you shopping them so don't fall for it..
  3. As above re CTP, but you can cancel your Third Party Property/Comprehensive insurance and receive a pro rata refund.
  4. You're confusing two different things. Comprehensive and third party property and damage is with you and stays with you.

    Compulsory 3rd party (CTP) stays with the bike. They do take some personal details when you get this insurance, but non-the-less it is integral with the bike rego.

    So if you get a new bike without rego you will need to get CTP and comprehensive (or 3rd party property and damage). If you buy with rego then you don't need to get CTP.

    Also, you the process is seamless your insurance company will allow you to transfer the comprehensive insurance from one bike to another, but will likely charge you more.
  5. ^ I fail to see the confusion, you are correct though.
  6. Ah sorry, I assumed the "C" in CTP was "comprehensive" not "compulsory" - that makes things a lot less confusing.

    So if I sell my bike and do the transfer of rego with the RTA, my insurance company will change the details itself?

    Also, if I get a new bike do I have to contact my insurance company and tell them to transfer my third party property onto this new bike?
  7. Yes you will.
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