![]() | #826 | |
Distinguished - BHPian ![]() ![]() | ![]() Quote:
![]() Here's the IDV depreciation table provided by HDFC Ergo, it would be the same for other insurers: ![]() Also, is the 44k insurance quote something that has been provided by the dealer? Consider purchasing the insurance yourself, as it will work out cheaper. For instance, look at the following quotes provided by Coverfox (for an EcoSport TDCi Titanium+ registered in AP): ![]() PS: Not stalking you! We just seem to be bumping into one-another on a few threads! Last edited by arunphilip : 26th September 2016 at 20:57. | |
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![]() | #827 | ||
BHPian ![]() Join Date: Feb 2014 Location: Hyderabad
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![]() | #828 |
BHPian ![]() Join Date: Sep 2007 Location: Pune
Posts: 339
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| ![]() Hi. I am planning to sell my old car to the showroom from where I will purchase my new car (mostly Tata Hexa or Mahindra XUV). I had a few queries on NCB transfer The person at Tata told me that the NCB can be transferred ONLY after they are able to sell off the car from their end. What that means is that when I leave my old car with them, say they are unable to sell off till the time I take delivery of my new car then that will mean that I will have to pay the full premium amount on the new car. I will be unable to transfer the 50% NCB to the new car. The question is: In a scenario like this, if I purchase the insurance for the new car and pay full, can I then at a later date (once i get the NCB transfer certificate), apply this NCB on my new policy and get a refund of the amount paid? Is this possible? |
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![]() | #829 | |
Team-BHP Support ![]() ![]() Join Date: May 2004 Location: Bangalore
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Option 2 is to take a sale delivery note from dealer for old car, then take a new third party for old car and give it to them. Submit these docs with a letter explanation to get the NCB letter issued and get the NCB transferred to the new car. If the new insurance is from same company, then this process will be super breeze through for obvious reasons. | |
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![]() | #830 | |
BHPian ![]() Join Date: Sep 2007 Location: Pune
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On Option 1. Do Insurance companies apply a retrospective NCB easily? Is it better to let the Insurance company know upfront that I intend to do this. Maybe I can buy the cover from TATA AIG itself to make the process easier. | |
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![]() | #831 | ||
BHPian ![]() Join Date: Jan 2016 Location: Bangalore
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Also, to highlight another point, I have seen that selling car to individuals will fetch you more $$$ than exchanging your car at the show room (even after considering exchange bonus). Given that still you have time for buying (Hexa is not launched yet), try selling at your end. KK | ||
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![]() | #832 | ||
Team-BHP Support ![]() ![]() Join Date: May 2004 Location: Bangalore
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Tata Aig was great, i also used them. They asked me just to email me the soft copy of the sale deed etc and issued me NCB letter. Last edited by Jaggu : 16th December 2016 at 14:20. | ||
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![]() | #833 | |
BHPian ![]() Join Date: Jan 2016 Location: Bangalore
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KK | |
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![]() | #834 | |
Team-BHP Support ![]() ![]() Join Date: May 2004 Location: Bangalore
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NCB letter was applied at the last moment so it was submitted couple of days after the new vehicle was delivered. But yes right from the beginning we had kept the dealer informed and insisted this has to happen if we had to take the Maruti insurance they were selling. EDIT: for the bike it was national insurance and they were initially hesitant and asking for RC card copy which would take long time. But when i told they can directly transfer to the new policy which is also from them, they obliged immediately ![]() Last edited by Jaggu : 16th December 2016 at 14:27. | |
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![]() | #835 |
BHPian ![]() Join Date: Jan 2006 Location: ----
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| ![]() Need some guidance on this NCB query, could not quite find it in the discussion so far. My Situation : 1. I had a comprehensive insurance on my 6 years old Swift with no claims and thus a 50% NCB bonus. 2. The insurance policy lapsed on 15Dec16 3. I plan to buy a Hexa or XUV by Mar17. Can I get the NCB certificate for this lapsed insurance policy ? This will be a win win. I use the NCB on my new vehicle, Swift I renew on 3rd party liability only Other option is to pay the fine for late renewal & then in mar'17 have it cancelled to get the NCB. Request opinions from the experts on how to proceed. |
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![]() | #836 | |
BHPian Join Date: Aug 2007 Location: mumbai
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Yesterday i did spend 3 hours at united india insurance office , trying to convince madam that i am selling car to showroom and they are giving me delivery note and they are going to issue a new TPA . But officer there was not ready to give NCB unless there is change of name on RC book. So now i don't see any option but to wait for dealer to sell the car to someone and name is transferred so we get NCB and we can use it next year. AS Jaggu said is that possible to get NCB refund in currect policy , i mean after 2 months of purchase of car ? As my first year insurance would be from Maruti Insurance what precautions would i take ,so i get refund midyear | |
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![]() | #837 | |
Senior - BHPian Join Date: Sep 2008 Location: DL9C
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![]() | #838 | ||||||
Team-BHP Support ![]() ![]() Join Date: May 2004 Location: Bangalore
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Like i said before i had clearly mentioned this to the Maruti Insurance guy and after his assurance, i agreed to take the new insurance. I even told them i will not take delivery of new car otherwise. So sales team also was party and they all agreed to oblige. Quote:
What i have posted above are ways to convince and get the job done with good intention, they have seen many such cases and they know whom and what to believe. ![]() So be nice, be honest and provide as much as alternate proof of sale to convince. Last edited by Jaggu : 16th December 2016 at 18:08. | ||||||
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![]() | #839 | |
BHPian ![]() Join Date: Sep 2007 Location: Pune
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![]() | #840 | |
Senior - BHPian ![]() | ![]() Quote:
Insurance co will provide the NCB certificate on the proof of the ownership transfer. In some case they do provide the same on the basis of the application for change of ownership at the RTO (receipt is sufficient). Please note delivery note from a dealer where you are exchanging the car is not a proof of ownership transfer, hence Insurance co have every right to refuse the NCB certificate. | |
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