Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 15th June 2017, 16:07   #31
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,011
Thanked: 2,020 Times
Smile Re: Transfer Car insurance

Quote:
Originally Posted by IcarusMan View Post
Is this kind of charge normal during insurance transfer?
It could be the NCB amount claimed by previous owner which will have to be returned back to the Insurance co and is on the pro rata basis. Pls confirm if this is the case.

Normal Insurance ownership transfer should not cost more than Rs 250/-.
ghodlur is offline   (1) Thanks Reply With Quote
Old 15th June 2017, 18:58   #32
BHPian
 
Join Date: Mar 2012
Location: Bengaluru
Posts: 75
Thanked: 56 Times
Default Re: Transfer Car insurance

Quote:
Originally Posted by ghodlur View Post
It could be the NCB amount claimed by previous owner which will have to be returned back to the Insurance co and is on the pro rata basis. Pls confirm if this is the case.

Normal Insurance ownership transfer should not cost more than Rs 250/-.
Thanks Ghodlur, it's as you say. The RGI insurance agent called me back (maybe he read this thread ). Bulk of it is the NCB premium held by previous owner. He said otherwise the transfer fee is just Rs. 58 or something like that.
IcarusMan is offline   Reply With Quote
Old 15th June 2017, 19:49   #33
BHPian
 
tp_dominator's Avatar
 
Join Date: Dec 2016
Location: Pune
Posts: 31
Thanked: 88 Times
Default Re: Transfer Car insurance

Quote:
Originally Posted by IcarusMan View Post
Thanks Ghodlur, it's as you say. The RGI insurance agent called me back (maybe he read this thread ). Bulk of it is the NCB premium held by previous owner. He said otherwise the transfer fee is just Rs. 58 or something like that.
Ghodlur is right. The amount might be due to the previous policy carrying NCB which you need to pay back to the company while transferring the policy on your name on a pro-rata basis. Otherwise, normal transfer charges for every company is Rs. 50 plus service tax of 15% which is roughly Rs. 58 total.

PSUs charge customers for pre-inspection also before transferring the insurance. In that case, one has to cough up the corresponding inspection charges.
tp_dominator is offline   (1) Thanks Reply With Quote
Old 15th June 2017, 20:54   #34
BHPian
 
Join Date: Mar 2012
Location: Bengaluru
Posts: 75
Thanked: 56 Times
Default Re: Transfer Car insurance

Quote:
Originally Posted by tp_dominator View Post
Ghodlur is right. The amount might be due to the previous policy carrying NCB which you need to pay back to the company while transferring the policy on your name on a pro-rata basis. Otherwise, normal transfer charges for every company is Rs. 50 plus service tax of 15% which is roughly Rs. 58 total.

PSUs charge customers for pre-inspection also before transferring the insurance. In that case, one has to cough up the corresponding inspection charges.
I had to pay 200 bucks to the RGI guy who came to my place to inspect the car yesterday.

It'd be better if RGI had clearly spelled out the charges/fees in the emailed payment link instead of the bald direction to "pay Rs XXXX for changes requested in the policy through this payment link". Deliberate withholding of information to pre-empt those who'd be looking to transfer their NCB along with transfer of ownership? Sadly, very recently I had to file an insurance claim for broken windshield of my other car that I plan to sell off...
IcarusMan is offline   Reply With Quote
Old 25th September 2017, 21:37   #35
BHPian
 
Join Date: Apr 2010
Location: Bengaluru
Posts: 482
Thanked: 423 Times
Default Re: Transfer Car insurance

Quote:
Originally Posted by IcarusMan View Post
Hello!
I recently bought a used car and am trying to transfer the insurance from previous owner with Reliance General Insurance. With physical inspection of the car completed, they've sent a link requiring me to pay Rs. 1627 for the transfer.

Thanks.
Did you try to transfer the insurance after the RC was transferred in your name?

Is it possible to transfer the insurance while the RTO process is on for transferring the ownership? That is, before the new RC is received by the buyer?

Thanks.
vinjosep is offline   Reply With Quote
Old 26th September 2017, 08:14   #36
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,011
Thanked: 2,020 Times
Smile Re: Transfer Car insurance

Quote:
Originally Posted by vinjosep View Post
Is it possible to transfer the insurance while the RTO process is on for transferring the ownership? That is, before the new RC is received by the buyer?
Yes, it is possible to initiate the Insurance ownership transfer process during the car ownership transfer. You can submit the same set of documents which you submitted to the RTO for ownership change to the Insurance co too. This way you intimate the Insurance co of the change of car & Insurance ownership. Pls note the Insurance ownership change does not happen immediately and any claims by new owner will be void. Once the RC is received, you can submit the copy of RC and the Insurance ownership transfer process will happen, you will be required to pay a nominal fee for the same.
ghodlur is offline   (1) Thanks Reply With Quote
Old 26th September 2017, 21:20   #37
BHPian
 
Join Date: Mar 2012
Location: Bengaluru
Posts: 75
Thanked: 56 Times
Default Re: Transfer Car insurance

Quote:
Originally Posted by vinjosep View Post
Did you try to transfer the insurance after the RC was transferred in your name?
Hi,
I transferred insurance only after getting new RC in my name. The RC transfer was done super-fast by the used car dealer (Yes Cars, Domlur), with new card ready 14 days from purchase, so I did not have to wait long.
IcarusMan is offline   (1) Thanks Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Unique case of insurance expiring in between ownership transfer carvoyeur Indian Car Loans & Insurance 24 10th August 2015 10:26
Beware of Fraud Insurance Agents - My experience with Reliance General Insurance panga007 Indian Car Loans & Insurance 4 17th February 2010 21:46
Bajaj Allianz car insurance without transfer pawan_pullarwar Indian Car Loans & Insurance 1 1st November 2007 14:37


All times are GMT +5.5. The time now is 02:01.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks