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Old 28th December 2017, 13:25   #46
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Default Re: Transfer Car insurance

I have a company car lease, which has expired and I have all the papers (NOC, etc. from the company). I also have a letter from the company saying the NCB can be transferred to my name. However, I don't intend to transfer the car into my name, I am exchanging it, so need advice on the whole process.

Here are the details:
- Current car is in the name of the company but lease is over, all dues are paid, I have all NOCs
- I am buying a new car in my name (not on company lease)
- The new car downpayment is not yet made, will be done in a couple of days, so VIN is not allocated
- I need to get the 45% NCB on my current company car transferred to my new personal car (NOC from my company is available)
- The new car insurance quoted by the dealer is inflated as usual so I am looking to buy my own

Can someone let me know the process?

Thanks in advance!
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Old 28th December 2017, 13:41   #47
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Default Re: Transfer Car insurance

Quote:
Originally Posted by anandpadhye View Post
I have a company car lease, which has expired and I have all the papers (NOC, etc. from the company). I also have a letter from the company saying the NCB can be transferred to my name. However, I don't intend to transfer the car into my name, I am exchanging it, so need advice on the whole process.

Here are the details:
- Current car is in the name of the company but lease is over, all dues are paid, I have all NOCs
- I am buying a new car in my name (not on company lease)
- The new car downpayment is not yet made, will be done in a couple of days, so VIN is not allocated
- I need to get the 45% NCB on my current company car transferred to my new personal car (NOC from my company is available)
- The new car insurance quoted by the dealer is inflated as usual so I am looking to buy my own

Can someone let me know the process?

Thanks in advance!
We have to get the NCB reserving letter from the current insurer. Submit it along with the transfer of ownership document(lease to self owned) to the new insurer. Use coverfox to search for good deal and pitch with that as the base to the agent.

Last edited by aadya : 28th December 2017 at 14:07. Reason: wrong information corrected
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