I would like to add one more thing. You are eligible to transfer your NCB even across insurance companies that comes under the GIC umbrella.
To quote an example, my previous car (tata indica) was insured with national insurance, when i sold it, i got the NCB from national insurance and produced the same to my new insurer (United India Assurance), got a Rs.30% or around Rs.8000 on my new car(mahindra scorpio).
regards
tifosi.
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