[ghodlur]

Originally Posted by Sufficient_shop

In the situation I am in at present, where I don't know when I'll get the allotment for my new car and when RC transfer will happen for my old car, there is a possibility where I end up getting the new car before I get the NCB certificate from my insurance company (ICICI).

My question is, will I be able to claim NCB from second year onwards with my new car insurance or will it just go waste?

Take the NCB endorsement over mail from the old car Insurance co i.e ICICI. Share this mail with the new car Insurance co and ask them to apply the NCB during the Insurance premium calculations. If the Insurance co doesnt have any options to apply the NCB during the car Insurance purchase process, ask them to refund the NCB equivalent amount later when you submit the NCB certificate.

As suggested if the old and new car Insurance co is same the NCB application during new car insurance purchase becomes easier.

[Sufficient_shop]

Originally Posted by ghodlur

Take the NCB endorsement over mail from the old car Insurance co i.e ICICI. Share this mail with the new car Insurance co and ask them to apply the NCB during the Insurance premium calculations.

Thanks for your inputs. But the problem is ICICI isn't ready to give the endorsement without seeing the proof of RC transfer of the old car.

[ghodlur]

Originally Posted by Sufficient_shop

Thanks for your inputs. But the problem is ICICI isn't ready to give the endorsement without seeing the proof of RC transfer of the old car.

Share them the Form 29 and 30 copies if you have it or the RC transfer receipt. That should suffice.

[Aviator_guy]

Originally Posted by ghodlur

Take the NCB endorsement over mail from the old car Insurance co i.e ICICI. Share this mail with the new car Insurance co and ask them to apply the NCB during the Insurance premium calculations.

Insurance companies insist on physical NCB letter (original) to apply NCB for new car so I'm not sure email or soft copy would be an option.
Having same insurance company for old and new car is a good idea and can be easier for transfer of NCB.

[ghodlur]

Originally Posted by Aviator_guy

Insurance companies insist on physical NCB letter (original) to apply NCB for new car so I'm not sure email or soft copy would be an option.

I have seen this happening with the Public sector Insurance cos mostly as they are more inflexible, Private cos do have the flexibility coz they can view the Insurance status of any car and are pretty much aware of the claim history of vehicles. Plus they need the business of new customers, hence they do agree to the endorsement provided the NCB letter in soft copy is shared with the co later.

[Aviator_guy]

Originally Posted by ghodlur

I have seen this happening with the Public sector Insurance cos mostly as they are more inflexible, Private cos do have the flexibility coz they can view the Insurance status of any car and are pretty much aware of the claim history of vehicles. Plus they need the business of new customers, hence they do agree to the endorsement provided the NCB letter in soft copy is shared with the co later.

You may be right, but from my personal experience, even the Pvt companies insist on physical letter. They fear losing big amount in NCB for a new car hence apply all delay tactics. Most of us give up after a point.

[supremeBaleno]

Originally Posted by Aviator_guy

Having same insurance company for old and new car is a good idea and can be easier for transfer of NCB.

My 50% NCB was from NationalInsurance and the new insurance for the GrandVitara Alpha+ was from Maruti SBI General. NCB transfer was a smooth process.

Originally Posted by Aviator_guy

Insurance companies insist on physical NCB letter (original) to apply NCB for new car so I'm not sure email or soft copy would be an option.

Nexa folks asked me to send photo of NCB certificate, which I did. They said I will have to produce the physical certificate and I said I will. But they never asked for it. So, I guess the insistence on physical NCB certificate is just a ruse by some companies to avoid giving the NCB discount - they can as well process without it.

[Ragul]

So I got NCB letter from my old Insurance company (RS) without selling the old car. The new car insurance co agent (Bajaj) I spoke to is calling it a certificate and says the endorsement will be generated by Nexa thus both endorsement and certificate are required required are submitted. I suspect this is just some bogus logic because I escalated hot due to 3 month delay from their side after first submitting the letter from RS.

The letter from RS states that I have sold my old car when I actually have not. I had clearly mentioned to RS CCARE when requesting NCB letter that I have not yet sold my car but they went ahead and mentioned that on the letter in any case.

Q1. Will it be a problem to obtain NCB discount refund if the new car insurer finds out the old car is not yet sold?
Q2. Can I claim NCB on the old car as well - it is due for renewal in a few days from now, before the NCB discount refund claim on new car will be processed.

[thanixravindran]

Originally Posted by Ragul

So I got NCB letter from my old Insurance company (RS) without selling the old car.
Q1. Will it be a problem to obtain NCB discount refund if the new car insurer finds out the old car is not yet sold?
Q2. Can I claim NCB on the old car as well - it is due for renewal in a few days from now, before the NCB discount refund claim on new car will be processed.

Q1- Don't know.

Q2 - No, you already got NCB transfer certificate. So you can use it for another car. You cannot claim NCB discount in old car. It will be treated as 0 NCB only on renewal.

[sknair]

Hi All,
I tried hard to understand various threads on this subject, but I am still confused about the process. Please see below my scenario, I appreciate your advice.

1. My current car Insurance is from TATA AIG and I have 50% NCB
2. I have booked a new car, it may take up to 4 to 6 months for delivery
3. I want to sell my current car as soon as possible to the same dealer or any other dealers
4. I have requested the NCB certificate from TATA AIG as per my conversation with their customer support team (waiting for their response)

A few questions

1. The dealer says I shouldn’t cancel my insurance till the RC is transferred to a new owner (which can take up to 2 months), during this time (while the car is with the dealer) if an accident occurs, can they claim from my insurance (hope not)?
   
2. Also, what is the right process to apply the NCB to the new car when I receive it after 4 to 6 months?
   
3. Should I have requested for NCB endorsement letter or the NCB certificate?

[Aviator_guy]

Originally Posted by sknair

[*]Should I have requested for NCB endorsement letter or the NCB certificate?[/list]

This is best way if you can get the NCB certificate by paying a nominal NCB recovery fee without selling your car. Usually govt insurance companies provide it without much fuss but pvt companies would make you run pillar to post and often insist on proof of sale of car. Sounds strange but that's how it is.

Also, please don't cancel the insurance before sale/transfer of RC. Inform the dealer not to make any claims during transition period (which is illegal since they should take all the liability for this period which they also mention on the letterhead when you exchange/sale car through them). Anyway, if fraudulently they make a claim, the insurance company would contact you for verification and then you can ask them to dismiss the claim.

[sknair]

Update:

I received a softcopy from TATA AIG with the below details

"As per your request received, we would like to inform you that there was no claim reported on the above period hence the insured is eligible for 50% NCB.
In the event of the vehicle continuing in the ownership of the Insured named herein, the NCB will be available within a period of 90 days from the date of expiry of the policy mentioned above."

• I suppose this is the endorsement document? not NCB certificate?
• Also at what point should I ask for the NCB certificate (Also called the NCB retention certificate?)

• Should it be only after the actual sale of the vehicle? (not after the vehicle is given to the dealer)

• Additionally, NCB retention certificate is valid for 3 years? while the endorsement expires in 90 days?

[yadavsid21]

Originally Posted by sknair

Update:

• I suppose this is the endorsement document? not NCB certificate?
• Also at what point should I ask for the NCB certificate (Also called the NCB retention certificate?)

• Should it be only after the actual sale of the vehicle? (not after the vehicle is given to the dealer)

• Additionally, NCB retention certificate is valid for 3 years? while the endorsement expires in 90 days?

It is also called NCB Reserving Letter/ NCB Certificate.
The process with HDFC (should be same with all) begins with providing the following (quoting from HDFC email)
1. ) Form 29/30, if available OR Sales Deed
2) Delivery Note
3) Duly signed request letter / e-mail from registered mail id
mentioning cancellation of Own Damage section of the policy due to sale of vehicle and issuance of No Claim Bonus (NCB) Certificate.
4) Letter from dealer confirming purchase of vehicle (Copy of Cheque / Cash receipt received in consideration for the vehicle sold / handed over (Name on Cheque / Cash receipt to be same as per Insured name mentioned on the policy copy)
5) NEFT details.(If Refund applicable)

After submitting all the documents, i had to wait till the new owner transferred the policy in his name.

I had to follow up for NCB certificate multiple times over email/ phone calls which also delayed my new car purchase ( i did not buy new car eventually) and decided not to buy policy from HDFC in future due to pathetic customer service.
But even if you dont have the NCB reserving letter at the time of new car purchase, you can submit the same with the insurance once its available and the insurance provider will refund the excess amount.

The NCB reserving letter will have validity mentioned i.e. 3 years.

Cheers

[gischethans]

When I bought my Punch earlier this year, I could not produce the NCB letter as the car was not sold by the dealer to whom I sold it. Even after it was sold and RC transferred, the buyer kept delaying the insurance transfer. Hence I decided to pay the NCB difference myself (thankfully less than ₹100) and got the certificate.

Now comes the interesting part, incompetent replies from current insurer ICICI Lombard.

• Initially, they kept telling me, that the details on the insurance and NCB certificate do not match. The customer care agents expected the current vehicle details to match with old vehicle's NCB letter
• I escalated it on X.com and now the grievance cell official told me that I might have to approach the dealer to take it forward as they don't handle such requests. Ironically, I had bought the policy directly from them and not from the dealer. I persisted that the dealer wouldn't be interested in entertaining my request as I did not buy the policy from them. She wasn't very sure and asked me for four working days to get back.

How do I take this forward? I am definitely keen on getting it done directly from them and not through the dealer. Isn't that the right process?

[sknair]

Further update, TATA AIG has been very professional, I emailed them a copy of the sale agreement and delivery note. They sent me a hard copy of the NCB reservation letter with 3 year validity. Likely I will go with them for the new car insurance as well.