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Old 7th January 2015, 16:25   #616
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Yet again I am stuck in a soup with Tata AIG. Here is the story

-In 2013 I transferred my policy of 65% from one car to a new one. The new car now had the Gold Plan+NCB protection(65%). Within this year I had one claim.

-In 2014 I cannot take the NCB protection plan as I claimed last year.However, I still have the 65% NCB discount in policy rate however if I claim this year it will not be protected. So I took a Zero dep policy/Pearl Plan. There was no claim in 2014 thankfully.

-Now I am renewing it for 2015 and TATA AIG shows my NCB as just 20% and my insurance premium has shot up a lot. Basically the 65% that I had protected for year seems to have vanished from the policy or in terms of discount even though there was no claim in 2014. In 2013 year there was a claim bu it was under protection NCB protection plan.

Can some insurance guru's please help as TATA AIG term everything as "company policy" whereas to me it is down right Fraud policy. Your prompt reply will be appreciated as policy expired in 2 days.

Last edited by Sahil : 7th January 2015 at 16:29.
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Old 7th January 2015, 16:49   #617
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Red face Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by Sahil View Post
-The new car now had the Gold Plan+NCB protection(65%). Within this year I had one claim.

In 2013 year there was a claim bu it was under protection NCB protection plan.
What was the claim made for? Did it satisfy the three conditions mentioned below for the NCB protection cover? If anything outside these three conditions the NCB protection no longer applies. Since you say that the 65% NCB was allowed for 2014, I assume that the NCB protection cover did work. Surprising that Tata AIG decided to apply only 20% NCB for 2015, I think they got the statistics wrong. You will need to contact the guys at Tata AIG to clarify the matter.

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Special conditions applicable to this benefit in addition to the general conditions:
The claim made for damages only to the windscreen glass/rear glass/door glasses sun roof glass, will not be considered as a claim under this benefit.
The claim only partial theft of accessories/parts will not be considered as a claim under this benefit.
A claim for theft of entire motor vehicle will not be considered as a TL/CTL for this purpose provided a new motor vehicle is purchased and insured with Us within 90 days of the theft, in which case, We will allow same No claim bonus on New motor vehicle as is shown in the schedule
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Old 7th January 2015, 17:03   #618
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

One more confusion in obtaining the NCB letter. I sold off my car a couple of days ago. I have 45% NCB for my old car. I have the photo copies of form 29, 30, delivery note and sale receipt along with the id proof of the purchaser.

Now my old car insurance company is not ready to give me the ncb letter without the proof that the car is transferred in the purchaser's name (RC copy in the purchaser's name). They are not ok with the form 29, 30 and other documents mentioned above. They say it is IRDA norms and they cannot help.

I am in a hurry to get the ncb letter so that I can utilize it for my new car purchase.

What is the way out to me. Experts please share your ideas.

Last edited by rki2007 : 7th January 2015 at 17:32.
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Old 7th January 2015, 17:42   #619
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by rki2007 View Post
One more confusion in obtaining the NCB letter. I sold off my car a couple of days ago. I have 45% NCB for my old car. I have the photo copies of form 29, 30, delivery note and sale receipt along with the id proof of the purchaser.

Now my old car insurance company is not ready to give me the ncb letter without the proof that the car is transferred in the purchaser's name (RC copy in the purchaser's name). They are not ok with the form 29, 30 and other documents mentioned above. They say it is IRDA norms and they cannot help.

I am in a hurry to get the ncb letter so that I can utilize it for my new car purchase.

What is the way out to me. Experts please share your ideas.
Which insurance company is this?

You ask them to point to actual rulebook mentioning this norm from IRDA.
Actually there is no such norm.

Are you getting this response from local representative or from the insurance co itself. Try approaching insurance co itself, raise a complaint on their website, threaten to take them to insurance ombudsmen and see how quickly they provide you the letter.
This is their last ditch attempt to keep you as customer, and your local rep may even suggest you to get insurance for your new car from him and in that case he will offer to get NCB letter.

Regards,

JLS
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Old 7th January 2015, 18:31   #620
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by ghodlur View Post
What was the claim made for? Did it satisfy the three conditions mentioned below for the NCB protection cover? If anything outside these three conditions the NCB protection no longer applies. Since you say that the 65% NCB was allowed for 2014, I assume that the NCB protection cover did work. Surprising that Tata AIG decided to apply only 20% NCB for 2015, I think they got the statistics wrong. You will need to contact the guys at Tata AIG to clarify the matter.
It was a normal claim and none of the special conditions you mentioned.

I have tried to contact TATA AIG but they claim this as per their policy.
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Old 8th January 2015, 08:07   #621
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Red face Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by rki2007 View Post
Now my old car insurance company is not ready to give me the ncb letter without the proof that the car is transferred in the purchaser's name (RC copy in the purchaser's name).
Ideally, Yes the Insurance co is correct in saying this. But as a way out, they generally do accept the Forms 29/30, delivery note copy and the receipt copy of the ownership transfer applied to the RTO. In your case the ownership transfer receipt is missing which hopefully you can provide them. Submit an application that you will provide the copy of RC change once formalities are completed.

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Originally Posted by Sahil View Post
It was a normal claim and none of the special conditions you mentioned.
If you read the conditions, the NCB protection cover is only for those claims which fall under these conditions (although it does say for general conditions too but thats confusing then). Since yours was a different claim, the NCB protection cover would not have worked.

Have you checked with other Insurance co for quotes?
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Old 8th January 2015, 09:29   #622
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by ghodlur View Post


If you read the conditions, the NCB protection cover is only for those claims which fall under these conditions (although it does say for general conditions too but thats confusing then). Since yours was a different claim, the NCB protection cover would not have worked.

Have you checked with other Insurance co for quotes?
The claim was for an accident that involved damage to the left side of the car. Some mechanical replacements, body panels and paint. Don't see why shouldn't be covered. Moreover if it weren't covered how would my current policy show 65% NCB carried from the previous year when the claim was.

I have got quotes from others too but they are all high because the NCB is now only 20% for some reason.
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Old 8th January 2015, 10:49   #623
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

@Sahil: Usually the insurance companies offer NCB protection only in certain circumstances. So maybe at the time of renewal they goofed up and now they are correcting it. Since 2014 was without claim you are getting 20% NCB which all others have quoted.

I suggest that rather than fighting with them, put one against another and try and obtain higher discount. Often I find that it all works out the same by and large - if you have a large NCB, then discount is less and you have small NCB, then discount can go quite high - as much as 60%.

@rki2007: Some insurance companies do insist on transferred RC book or policy. But there is not much to worry about. Try once again to get them to transfer the NCB. If they refuse, then wait till the policy expires or cancel the existing policy and submit all the transfer papers. Even if they don't transfer the NCB and give you lower premium, you will get a refund once you manage to get the NCB transferred.
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Old 8th January 2015, 14:12   #624
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Didn't know about NCB protection till i read the recent posts about the same.

How does it work and what are the exclusions for it.
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Old 8th January 2015, 16:26   #625
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Smile Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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How does it work and what are the exclusions for it.
Different Insurers have different exclusions, cant list all of them here. For Eg 1) HDFC Ergo offers max 3 claims for NCB protection and applies only for wind shield damage claim, loss to parked vehicles by ext means, & loss to vehicles due to floods, earthquakes and act of God perils.
2) Bharati Axa has 2 types of NCB protection cover - i)Same slab cover where max 2 claims are admissible but NCB will become zero after 2nd claim. ii) One slab down cover where again max 2 claims are admissible and NCB will be lowered by one slab from existing in case of 3rd claim. i.e if your NCB was 25% then it would be lowered to 20% next year.
3) Tata AIG - conditions mentioned in post#617 in this thread.
4) Future Generali - Allows max of only one claim. Any 2nd claim will reduce NCB to zero. The conditions are the vehicle has to be insured with FG & serviced/repaired at company authorized garages only.

This is based on the information available with me. Request you to contact the Insurer for further clarifications or the exact wordings for the add on cover.
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Old 8th January 2015, 17:46   #626
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Update: TATA AIG emailed me and offered to make the Comprehensive insurance a Liability only (3rd party one), but they wanted form 29/30 copy also. Have asked them to go ahead and shared the forms scan.

I have sent them the blank but signed form since the car is being purchased by Maruti Truevalue. Let me see if this is enough.
Update 2: They wanted filled up 29 & 30 forms, emailed scans and they have accepted the request. Upto 7 days to process the NCB certificate.

Is it possible for me to go ahead and take the new policy and ask for a refund by submitting the certificate later?
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Old 17th January 2015, 16:27   #627
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Have one query regarding Transfer of NCB

Can the transfered NCB be used for applying on purchase of an used car ?

I'm selling my car (did not make a claim in the last 6+ years).. Am buying an used car shortly. Can I use the transfer of NCB ?

If yes, what are the steps ?

my current cars insurance is from "National Insurance". The car which i'm buying (used car) is having insurance from "New India Assurance"

Can the NCBs be transferred between insurance companies ?

Thanks!
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Old 30th January 2015, 14:26   #628
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Update 2: They wanted filled up 29 & 30 forms, emailed scans and they have accepted the request. Upto 7 days to process the NCB certificate.

Is it possible for me to go ahead and take the new policy and ask for a refund by submitting the certificate later?
Hi.

I was in a similar situation a few months back with Tata AIG. So here is what happened.

1. I was selling my i10 (TATA AIG - 50% NCB) to Adaith Hyundai and buying a Hyundai Verna.
2. TATA AIG refused to give a 50% NCB on the new policy for Verna as the car was not yet transferred. But one guy from TATA AIG kind of hinted that I could submit a form29/30 with some signature (who cares) + buying receipt from Advaith and get the NCB. I didnot want to go for this as it might come back to bite me later.
3. So I bought a new policy from TATA AIG without NCB.
4. After 2 months followed up with Advaith and got a copy of the i10 RC book that was sold to a new owner.
5. With this in hand, I went to TATA AIG and ask for NCB reservation letter which I can use when I renew the new policy.
6. TATA AIG refused again saying they need proof of vehicle sale and the new RC alone will not be enough. So I forwarded them the sale letter provided by Advaith Hyundai. 5 days later I got the NCB reservation letter.

Note: The NCB letter will be used by me when I renew the policy (50% discount). Even if I make a claim this year on the new policy, the discount will still apply. I have confirmed this with TATA AIG.
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Old 30th January 2015, 15:45   #629
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Smile Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by haria View Post
Can the transfered NCB be used for applying on purchase of an used car ?

Can I use the transfer of NCB ?If yes, what are the steps ?

Can the NCBs be transferred between insurance companies ?
Yes, NCB can be used when buying insurance for used car as well. The steps are relatively simple.
1) Apply for the NCB letter from National Insurance. They may ask you for the car sale proof. You can provide application letter for NCB along with a set of documents which you had submitted to RTO for ownership transfer.
2) Use the NCB during Insurance purchase for new car, submit the NCB letter to New India Assurance.

Ensure that you do transfer the Insurance of your sold car from self to the new owner.
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Old 30th January 2015, 15:55   #630
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Hi.

I was in a similar situation a few months back with Tata AIG. So here is what happened.
Thanks for reminding me, they had emailed me that hard copy has been couriered about 13 days back and i just replied i still have not received it. Why can't these process be simple and straight forward!
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