Submission Of Documents:<\/strong><\/p>\nSubmit necessary documentation confirming the loan’s existence and details of the lending organization. The insurer verifies these documents before incorporating hypothecation into the policy.<\/p>\n
Validation And Acceptance:<\/strong><\/p>\nUpon successful verification, the insurer explicitly mentions hypothecation details in the policy document.<\/p>\n
Adding Hypothecation: Documents Required<\/strong><\/p>\nLoan Sanction Letter: <\/strong>Formal confirmation from the lender approving the car loan.<\/p>\nAgreement of Hypothecation: <\/strong>A written contract signed by both parties, specifying terms and conditions.<\/p>\nCertificate Of Registration For Vehicle (RC):<\/strong> A copy of the RC containing essential car information.<\/p>\nProof Of Personal Identity: <\/strong>Valid identification documents for identity verification.<\/p>\nProof of Address: Documents confirming the current address.<\/p>\n
Removing Hypothecation: Offline And Online Methods<\/strong><\/p>\nOffline Hypothecation Removal:<\/strong><\/p>\n\n- Obtain a No Objection Certificate (NOC) from the lender.<\/li>\n
- Apply at the Regional Transport Office (RTO) with Form 35, NOC, and a copy of the RC.<\/li>\n
- After RTO approval, inform the insurer, providing NOC and the updated RC.<\/li>\n
- The insurer reviews and endorses the policy, removing hypothecation.<\/li>\n<\/ul>\n
Online Hypothecation Removal:<\/strong><\/p>\n\n- Visit the Parivahan Portal on the official Parivahan Sewa website.<\/li>\n
- Under “Online Services,” select vehicle services like termination of hypothecation.<\/li>\n
- Enter vehicle details and upload the required documents.<\/li>\n
- Pay fees online, submit the application, and receive confirmation.<\/li>\n
- Track the application online and accept the updated RC digitally or by mail.<\/li>\n<\/ul>\n
*Standard T&C Apply<\/p>\n
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure\/policy wording carefully before concluding a sale.<\/p>\n","protected":false},"excerpt":{"rendered":"
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