![]() | #436 |
BHPian Join Date: Jun 2007 Location: Kolkata
Posts: 196
Thanked: 236 Times
| ![]() I already posted this query in the new car price thread along with many other information. However, I was asked to have my insurance related query in this thread, so here I go. I have just booked a new Honda City E-MT. They have offered me free insurance. I currently enjoy a 65% NCB with Bajaj Allianz on my 2004 WagonR Lxi which I am selling off privately. The Honda dealer is telling me they can take care of the transfer of the NCB to my new car. Since the insurance is free, I am a little confused about the whole procedure. The Honda dealer said they also deal with Bajaj, and if I want, the insurance on the City can be from the same company. What would the insurance policy show? Would it be just a normal looking one mentioning the NCB while dealer pays whatever amount to the insurance company? |
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![]() | #437 | |
Senior - BHPian ![]() | ![]() Quote:
You buy the new car insurance from Bajaj directly (online preferably) and opt for Zero dep coz with the NCB of 65% the premium amount for zero dep would be bearable. | |
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![]() | #438 | |
BHPian Join Date: Jun 2007 Location: Kolkata
Posts: 196
Thanked: 236 Times
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In any case, you did not answer my query. What happens to my NCB in this case? | |
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![]() | #439 | |
Senior - BHPian ![]() | ![]() Quote:
The catch here is if you have a claim during the first year, your NCB letter will still be honoured by the Insurance co during the second year renewal. This free insurance which the Honda dealer is offering - does it include zero dep add on? If not is the dealer willing to provide if you insist? Hope this helps, all the best. | |
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![]() | #440 |
BHPian Join Date: Jun 2007 Location: Kolkata
Posts: 196
Thanked: 236 Times
| ![]() Thanks a ton, ghodlur. It was really helpful. I did not know that the NCB could remain valid for up to 3 years, even if there is a claim in the first year. The free insurance offer (not from the dealership, but directly from Honda, AFAIK)) does not include the zero depreciation option. However, for an extra 5k, they are willing to add it. |
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![]() | #441 | |
Senior - BHPian ![]() | ![]() Quote:
This time you got the coin which Amitabh Bachchan had in Sholay (Chit mein meri, pat bhi meri, sorry cant translate in english) ![]() | |
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![]() | #442 |
BHPian Join Date: Feb 2008 Location: Pune
Posts: 345
Thanked: 59 Times
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Take the free insurance ( its actually not free. You will get the policy document mentioning premium paid). After you get the NCB certificate you can produce that to your new insurerd and ask for refund. I have done this with Bajaj Allianz (not for free insuranc scheme though) and they refunded me 50% of own damage amount (a lot more than that actually due to their mistake). |
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![]() | #443 |
BHPian Join Date: Jun 2007 Location: Kolkata
Posts: 196
Thanked: 236 Times
| ![]() Okay guys. Thanks a lot for your responses. As I understand it now,
Please tell me if my understanding is correct. |
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![]() | #444 |
Newbie Join Date: Oct 2011 Location: Gurgaon
Posts: 28
Thanked: 7 Times
| ![]() Hi I have a query. Pardon me if its too noob a question. My car's rear bumper has slightly come out due to a moron ramming into it while trying to jump a signal. My insurance gets renewed in 10 days and I was wondering if I should get it fixed before I get my insurance renewed? Will a slightly hanging bumper change the value of insurance for the next year? Or will my NCB be denied if my car looks damaged even though i haven't claimed any insurance. Thanks |
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![]() | #445 | |
Senior - BHPian ![]() | ![]()
Discard the option b, go for option a. From reliable sources I have learned that the free Insurance is actually not given by the dealer, most Insurance companies have a tie up with car manufacturers and they give the free Insurance through the dealer. Although the dealer makes it look like as if he is giving the free Insurance. So take the insurance from dealer and use your NCB for the second year renewal. Quote:
The insurance co (if you stick to the same as earlier year) is not bothered whether the rear bumper is hanging as long as they get their premiums. | |
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![]() | #446 |
BHPian Join Date: Aug 2007 Location: mumbai
Posts: 104
Thanked: 4 Times
| ![]() hi guys , i was advice same way by honda guys to get a refund later on as they will not give cash discount instead of insurance , so he advice me to get refund on the insurance paid . I have santro (2004) and i am planning to sell it and buy honda brio or i10 |
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![]() | #447 |
BHPian Join Date: Oct 2007 Location: Pune
Posts: 260
Thanked: 254 Times
| ![]() I have a similar query as what @asitkde has asked. My question is I have agreed to sell the car to someone. 1) Should I be cancelling the insurance on my Old car and ask the buyer to get a new insurance? I suppose the new buyer has to have the insurance in *his* name. 2) My existing insurance is expiring on 1st Feb 2013 and I have bought a new insurance running till Feb 2014. When I make a sell now (Jan 2013), can I still retain the NCB when I terminate a future policy? |
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![]() | #448 | |
Senior - BHPian ![]() | ![]() Quote:
1) A simple letter for Insurance transfer would be sufficient, no need to cancel the Insurance. Letter for transfer to be submitted post the RC ownership change as new RC copy also has to be attached. 2) When you sell your present car, you transfer the Insurance to the new owner along with ownership(RC). Get the NCB letter from the present Insurer and use it when you buy Insurance for your new car. If you dont want to do so, you can use the NCB letter during the first year Insurance renewal. | |
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![]() | #449 | |
BHPian Join Date: Oct 2007 Location: Pune
Posts: 260
Thanked: 254 Times
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![]() | #450 |
BHPian Join Date: Aug 2007 Location: mumbai
Posts: 104
Thanked: 4 Times
| ![]() hyundai guys r advicing same , but the thing is they won't be helping in this work Last edited by pabheda : 28th January 2013 at 09:18. |
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