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However suppose I am selling off my car today. Once this process is complete and I get the money I will go ahead and buy a new car. So how do I get the NCB certificate? The buyer will definitely not let me do that if he gets a wind of whats up.
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Your NCB is yours only. It is based on your "no-claim" record. No one or nothing can stop you from claiming the benefits. The fundamental of the NCB is to reward you for not claiming any damages, and thus your premium gets lesser as you are relatively risk-free.
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how do they arrive at percentage ex - 50% NCB or 100% NCB. Is it based on amount of claim or no.of claims
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Insurance companies have slabs. The maximum that I have heard of (and enjoy) is 65% which was the result of 5+ years of no-claims.