![]() | #961 | |
BHPian ![]() Join Date: Apr 2017 Location: Bengaluru
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![]() | #962 | |
Senior - BHPian Join Date: Oct 2007 Location: trivandrum
Posts: 2,618
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![]() | #963 |
Senior - BHPian ![]() | ![]() Regarding claiming the NCB during the first year renewal. I have the 50% NCB certificate of my previous car, which I exchanged at Ford. The insurance of the new car was done with the showroom and for some reason I couldn't use the NCB then. The renewal is coming up and there is a 20% NCB on the new car for the first year. So is it right that the maximum I can get is 50% which is 20% from the new car and 30% from the old car? Also does it differ depending on the type of insurance? |
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![]() | #964 |
BHPian ![]() | ![]() Team, Slightly off-topic; but about insurance transfer. Please help. I had purchased a second-hand car and transferred RC to my name couple of months back. Insurance is third party and is still on previous owner name. As i heard from a reliable agent in insurance company third party insurance can be changed (they call it as endorse) - at any point of time once RC is transferred to new owner of car. Does any one aware the procedures to transfer the third party insure to new buyer name. Are there any charges to be paid. Thanks Prsn |
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![]() | #965 | |
BHPian Join Date: Aug 2014 Location: DEL, SFO
Posts: 521
Thanked: 1,402 Times
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![]() | #966 | |
Senior - BHPian Join Date: Oct 2007 Location: trivandrum
Posts: 2,618
Thanked: 1,364 Times
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![]() | #967 | |
BHPian ![]() Join Date: Apr 2017 Location: Bengaluru
Posts: 102
Thanked: 65 Times
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![]() | #968 | |
Senior - BHPian ![]() | ![]() Quote:
Thank you. So 50% NCB means I pay half the premium that is quoted for the second year insurance? And that is regardless of the type of insurance? | |
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![]() | #969 |
Senior - BHPian ![]() Join Date: Mar 2006 Location: New Delhi
Posts: 2,697
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![]() | #970 | |
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![]() | #971 |
BHPian ![]() | ![]() Thanks Ajay, will try do it this week. Its United India Insurance; are they open on Saturday. Will update once its through. |
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![]() | #972 |
BHPian ![]() Join Date: Dec 2009 Location: Bangalore
Posts: 877
Thanked: 1,443 Times
| ![]() I never thought it would happen, but I managed to transfer my NCB (45%) from my existing car to my new car without selling or transferring the vehicle. The only compromise I had to make was to go with the same insurance company (HDFC ERGO). I had to pay the difference in NCB prorated for the remaining days and the premium for the new car, and they sent me the cover note the next day. The whole process was done without me going to their office or filling any forms - but only phone, email and whatsapp. If you have to go with a different insurer for the new car (dealer tie up), you would be issued an NCB certificate in a few days, which you have to present to the new insurer and claim NCB. Even if you are in a hurry, and can't wait for the certificate, you can go ahead with the new insurance paying the full amount, and when the certificate arrives, you can submit it to the new insurer and get the NCB refunded. |
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![]() | #973 |
BHPian ![]() Join Date: Apr 2017 Location: Bengaluru
Posts: 102
Thanked: 65 Times
| ![]() Sorry, for the delayed reply. We can use NCB only on the basic own damage component mentioned in the policy and not on the third party component, so the premium won't be exactly half after NCB inclusion, but can expect a decrease of about 30-40% in the overall premium depending on the OD they have quoted. Yes, this applies to comprehensive policies of all insurance companies. Thanks. |
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![]() | #974 |
Newbie ![]() Join Date: Oct 2009 Location: Bangalore/Manga
Posts: 17
Thanked: 12 Times
| ![]() Hello Experts, I bought a new car last year (Honda Brio) and went with dealer insurance(Honda Assure + Baja Allianz) for the same with no NCB applied. It is due for renewal now. Last year after buying the Brio , I sold another car(Chevy Spark) that had accumulated 50% NCB and got the NCB certificate valid for 3 years from United India Insurance. Today I went to the same United India Office to renew the Brio insurance and also presented the 50% NCB letter. The person in-charge there listened to me and started entering the details on his system. He also called another person - apparently an "Advisor" and told him about my case. The "Advisor" spoke to me and told me that NCB transfer can only be when buying a new vehicle and that I should have used it when I bought the car. I argued saying it is not the case and both the United India person and the "Advisor" refused to budge saying a NCB certificate can only be used when buying a new car. I am almost sure that this is not the case , so need inputs from the community if my argument is correct and whom to approach to get this sorted. Alternatively , I can try the other insurers (private online ones) if they accept the NCB letter/certificate from United India. If I buy online , what is the procedure to share my 50% NCB letter ? The United Insurance office that I visited is a Micro Service office in Bilekahalli , Bannerghatta Road, Bangalore. Thanks Suhas |
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![]() | #975 | |
BHPian ![]() Join Date: Apr 2017 Location: Bengaluru
Posts: 102
Thanked: 65 Times
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From my experience and knowledge, a valid NCB certificate can be used at the time of renewal of an insurance policy irrespective of whether the car is new or was already purchased. I understand that your new car was bought last year and this is the first renewal. There is no reason here for United India to refuse inclusion of your NCB. From your explanation, it looks like the two guys you contacted in that micro office are either unaware of the correct process or they are just being lazy to assist you. It's worth checking with their main/head office if you are keen on continuing only with them. Otherwise, other insurance companies would be more than willing to renew your policy with the NCB included. Whichever insurance company you approach, just make it very clear that you have a 50% valid NCB certificate that you want included before making any payment towards the premium. Documents you will need for this are 1) Copy of your old insurance policy, 2) Original NCB certificate, 3) Copy of RC, and 4) Copy of your photo ID proof (some will insist only Aadhar). All these documents should have your exact same name. Also, some insurance companies would ask for a canceled cheque leaf and a copy of your DL. Canceled cheque leaf is only to credit your NCB amount later (maximum 14 working days from the date of renewal) in case they say new policy has to be issued first for inclusion of the NCB. In this case, please ensure whomever you are talking to is clear and reliable in refunding the NCB amount after the policy is issued. Hope this helps. Thanks. Last edited by shijanto4 : 3rd June 2018 at 11:02. | |
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