Go Back   Team-BHP > Team-BHP > Team-BHP Advice > On buying a car


Reply
 
Thread Tools Search this Thread
Old 24th August 2011, 17:22   #376
BHPian
 
aghosht's Avatar
 
Join Date: Oct 2009
Location: Thane
Posts: 172
Thanked: 16 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Quote:
Originally Posted by harit View Post
About past experience, a friend had a car crash into his parked car. He runs a workshop and fixed his car, and filed a case in a court. He won, and was awarded repair costs plus some extra which the insurance of the other party had to pay. If required I can ask for details.
Would be great if you can without inconveniencing yourself too much. Just the bare details of:

Which court, how long did it take, was the amount high (and any other your friend can readily share).

Thanks so much.
aghosht is offline   Reply With Quote
Old 25th August 2011, 00:01   #377
BHPian
 
Join Date: Aug 2011
Location: Bangalore
Posts: 243
Thanked: 43 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Hi all,

Need some help, I brought a Ritz VDI with royal sundaram insurance online.
My old maruti car has a 50% NCB accumulated till now.

Royal sundaram is ready to transfer my NCB from my old car to my new, but my old car insurance is Maruti insurance underwriter is royal sundaram.

Now royal sundaram is asking me to request maruti to transfer my NCB and they will do the needfull by providing NCB on my new car policy.

Maruti is ready to give the NCB certificate but are asking for whopping 400 rupees charge to give this certificate. They say they have to pay this fees to royal sundaram to cancel the NCB on my current insurance policy.

I blasted the lady at the maruti insurance desk, told her this is corruption and i will take you guys to the consumer court for charging such fees, she cut the call and is not answering phones after that !!

I will catch hold of her tomorrow again, i wanted to know from you guys, do they have rights to charge us fees to give this certificate? irrespective of the old car is sold or not.

Cheers
Crazy4.Cars is offline   Reply With Quote
Old 15th September 2011, 05:38   #378
BHPian
 
druk75's Avatar
 
Join Date: May 2011
Location: Cochin
Posts: 107
Thanked: 12 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Hi guys. Advise required regarding NCB. I have sold my old car and am intending to use its last 3 yrs' worth NCB on my new car. When i approached the insurance company asking them to issue a certificate towards this, the Executive called someone above and then asked me to pay up the NCB amount and cancel my current NCB on the current car! Only then would they issue me a NCB certificate it seems! Is that legal? I have just renewed the insurance of the car that i sold, just 3 weeks back. Does this fact have anything to do with their policy? What can I do now? Should i cancel the insurance or ask the buyer to pay up the difference amount? Please guide.

Thank you.
druk75 is offline   Reply With Quote
Old 15th September 2011, 10:42   #379
BHPian
 
Join Date: Feb 2008
Location: Pune
Posts: 344
Thanked: 56 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Quote:
Originally Posted by druk75 View Post
Hi guys. Advise required regarding NCB. I have sold my old car and am intending to use its last 3 yrs' worth NCB on my new car. When i approached the insurance company asking them to issue a certificate towards this, the Executive called someone above and then asked me to pay up the NCB amount and cancel my current NCB on the current car! Only then would they issue me a NCB certificate it seems! Is that legal? I have just renewed the insurance of the car that i sold, just 3 weeks back. Does this fact have anything to do with their policy? What can I do now? Should i cancel the insurance or ask the buyer to pay up the difference amount? Please guide.

Thank you.
Even if you dont cancel, you will have to transfer the insurance to the buyer and he will ahve to pay the NCB to the insurance company. So talk to the insurance guys in these terms.
After insurance is transfered you will get a NCB certificate.
alto99 is offline   (1) Thanks Reply With Quote
Old 2nd October 2011, 13:21   #380
BHPian
 
druk75's Avatar
 
Join Date: May 2011
Location: Cochin
Posts: 107
Thanked: 12 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Thank you alto99. Just figured it out. Waiting for the new owner to register the car in his name. After that we will go together to the insurance office to get ncb and also change it to his name.
druk75 is offline   Reply With Quote
Old 14th October 2011, 11:43   #381
BHPian
 
Join Date: Mar 2007
Location: Bangalore
Posts: 32
Thanked: 2 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Hi All,

I searched this thread and couldnt find a similar situation. Please help.

I got the NCB certificate from IFFCO TOKIO of 25% when I sold my car in Feb 2011.

I bought a Swift zxi from Maruti True Value in Feb 2011 which has ICICI lombard insurance and when I went to transfer the NCB, they told me that they will transfer it on next renewal which is in Dec 2011. So I have the NCB certificate still with me and the current Swift insurance does not have any NCB.

Yesterday I had a small accident in which I need to claim insurance since the amount was Rs.7500/-. Now the question I have is

1) Even if I claim insurance now, can I transfer the NCB of old car when I renew the insurance for my Swift in Dec 2011 ?

2) If I cancel the ICICI lombard insurance and go for another company, will I get the NCB transferred from my old car ?

Thanks,
Toretto
toretto is offline   Reply With Quote
Old 2nd November 2011, 07:32   #382
Newbie
 
Join Date: Feb 2010
Location: Thane
Posts: 12
Thanked: Once
Default

I am selling my alto insured by reliance insurance, how do I proceed to claim NCB, I mean the transfer should it include insurance as well or need to file for NCB and then proceed the transfer deal, pl guide.
sandip1974 is offline   Reply With Quote
Old 5th December 2011, 14:08   #383
Senior - BHPian
 
puchoo's Avatar
 
Join Date: Sep 2011
Location: Delhi / Shimla
Posts: 1,425
Thanked: 743 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I just booked the fabia and i thought the insurance process was going to be easy , boy was i wrong

I have a NCB of 50% on my existing car which i want the benefit of since it saves me about 12,000 on the new car.

1. My insurance company is telling me to bring to them the original copy , Form 29 / 30 , RC copy and then the NCB would be given in 3-4 working days , the problem is that the old car is not sold off yet and will be handed over to the dealer when i get the new one - so in essence i can claim the refund after buying the new car

2. I asked the dealership to simply speak to the insurance company - it turns out that my existing insurer and the one which will insure the new car are the same - Bajaj - i was hoping that they would simply tell Bajaj that i already have a policy and a new one should be issue to me with the 50% NCB already discounted - have been told no

Anyone have any thoughts ? No choice but to go in for the process number 1 the way i see it.
puchoo is offline   Reply With Quote
Old 5th December 2011, 16:12   #384
Senior - BHPian
 
r_nairtvm's Avatar
 
Join Date: Feb 2009
Location: Dubai/TRV/BLR
Posts: 1,573
Thanked: 1,308 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

@ Puchoo,

Alternate is there.

Buy a TP/Act Only Insurance in your name itself for the old car from the same Insurer.

Then give them (insurer) a letter to cancell the Comprehensive Insurance of the Old Car along with the copy of the TO/Act Insurance Policy of the old car, and ask them to give you the NCB Certificate (if there is enough time left on the policy period you may even get a refund of premium).

Depending on the customer service attitude of the unit manager (Insurer) you may be able to avoid geting the NCB Certificate - as they can issue the new policy for your new car with the eligible NCB then and their.

Try this - I think it will work

Best Regards & Drive/Ride Safe

Ram

Last edited by r_nairtvm : 5th December 2011 at 16:13.
r_nairtvm is offline   (1) Thanks Reply With Quote
Old 13th December 2011, 13:54   #385
BHPian
 
Join Date: Jun 2008
Location: Meerut
Posts: 129
Thanked: 13 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Hi,

I've a 3 year old indigo insured and has NCB being carried forward. I bought a 2006 model civic. The previous owner enjoyed the benefit of NCB and last years premium was about 9k on a valuation of about 5.5L. Now the insurance company is demanding Rs 16k and says no further discount is possible and the valuation would remain at 5.5 L.

Please advice.
kumargandharva is offline   Reply With Quote
Old 14th December 2011, 11:57   #386
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,761
Thanked: 1,771 Times
Smile Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Quote:
Originally Posted by kumargandharva View Post
Hi,

I've a 3 year old indigo insured and has NCB being carried forward. I bought a 2006 model civic. The previous owner enjoyed the benefit of NCB and last years premium was about 9k on a valuation of about 5.5L. Now the insurance company is demanding Rs 16k and says no further discount is possible and the valuation would remain at 5.5 L.

Please advice.
IDV for vehicle beyond 5 years since manufacture or obsolete models has to be decided mutually between Insurance co and the car owner. If the Insurance co is not willing to change the IDV, change the Insurance co. Go for the one who quotes higher IDV.

Also NCB remains with the owner and not with the car. Since you have the NCB assuming that you have sold the Indigo will be applicable for the Civic. The premium quoted by the insurance co is totally absurd. Change the Insurance co ASAP, get fresh quotes.
ghodlur is offline   Reply With Quote
Old 26th December 2011, 19:49   #387
BHPian
 
Join Date: Oct 2006
Location: Madras
Posts: 588
Thanked: 138 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I own a Jan 2007 Swift and there are no claims till date. Currently the insurance is through National Insurance and there is 45%NCB. This Jan (2012), i would get 50% NCB when i renew. But National Insurance is quoting higher premium than others.

I plan to change my car in 2012 (buy a new one and sell the Swift).
1. Can i change the Insurer now, when i pay the renewal premium in Jan 2012?
2. Would this affect the NCB transfer in anyway when i buy the new car?

Last edited by hyper-VTEC : 26th December 2011 at 19:52.
hyper-VTEC is offline   Reply With Quote
Old 27th December 2011, 09:46   #388
Distinguished - BHPian
 
sgiitk's Avatar
 
Join Date: Dec 2007
Location: Kanpur
Posts: 6,569
Thanked: 2,953 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

@druk75; My normal procedure is to put the old car on Act Only and then the Old NCB is free. At most you will have to provide the new Insurance certificate copy. Cost about Rs.900!
sgiitk is offline   Reply With Quote
Old 30th December 2011, 13:05   #389
BHPian
 
Join Date: Oct 2006
Location: Madras
Posts: 588
Thanked: 138 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Quote:
Originally Posted by hyper-VTEC View Post
I own a Jan 2007 Swift and there are no claims till date. Currently the insurance is through National Insurance and there is 45%NCB. This Jan (2012), i would get 50% NCB when i renew. But National Insurance is quoting higher premium than others.

I plan to change my car in 2012 (buy a new one and sell the Swift).
1. Can i change the Insurer now, when i pay the renewal premium in Jan 2012?
2. Would this affect the NCB transfer in anyway when i buy the new car?
Hi Fellow BHPians. Happy New Year 2012 to all.

I am eagerly waiting for a response as the renewal date for my insurance would be due soon.
hyper-VTEC is offline   Reply With Quote
Old 30th December 2011, 17:00   #390
Senior - BHPian
 
r_nairtvm's Avatar
 
Join Date: Feb 2009
Location: Dubai/TRV/BLR
Posts: 1,573
Thanked: 1,308 Times
Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Quote:
Originally Posted by hyper-VTEC View Post
Hi Fellow BHPians. Happy New Year 2012 to all.

I am eagerly waiting for a response as the renewal date for my insurance would be due soon.
VTEC, your eager wait is likely to be in vain. This type questions have been answered several times in the forum and in this thread itsel. Please scroll down and read and you will get the gyan.

Woundn't that be a better use of time rather than waiting it and wasting it.

Happy New Year

Best Regards & Drive & Ride Safe

Ram
r_nairtvm is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Insurance claim? Pay a little extra and retain your No-Claim Bonus! parrys Indian Car Loans & Insurance 9 1st May 2016 22:39
Insurance premiums vs claims - Would 'Self Insurance' be cheaper for you? GTO Indian Car Loans & Insurance 46 28th February 2016 15:38
Car Insurance - Possible NCB (No Claim Bonus) Loophole? koshyjohnuk Indian Car Loans & Insurance 57 7th January 2015 19:26
Insurance and No Claim Bonus vennarbank Indian Car Loans & Insurance 9 18th September 2006 12:51


All times are GMT +5.5. The time now is 05:18.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks