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Old 18th July 2018, 13:46   #991
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by fiat_tarun View Post
I am looking at doing the exact same thing to transfer my 50% NCB to my new car. My insurer too is Bajaj. How did you go about this and how long did it take ?

I spoke to customer care and was asked to send them an email with this request. I am now waiting for Bajaj to get back to me.
Sent an email to customer care and told them to ask some local bajaj agent to call me up. It is futile explaining the requirement to customer care. Once I got a call from the local bajaj allianz office, asked the agent to meet me and explained everything to him.

They will tell you that you need to first sell your existing car and once it is registered on the new persons name, the NCB certificate can be provided to you by paying the differential amount due to removal of NCB. However, tell them that you are ready to pay the differential amount upfront and they can come and inspect the vehicle. I did that and got the NCB certificate in 2 days time after their agent inspected the vehicle. It is valid for 3 years so there is no rush to buy the new vehicle as well as there is no rush to sell the old vehicle.
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Old 23rd July 2018, 14:30   #992
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Sent an email to customer care and told them to ask some local bajaj agent to call me up. It is futile explaining the requirement to customer care. Once I got a call from the local bajaj allianz office, asked the agent to meet me and explained everything to him....
Surprisingly, Bajaj customer care came through. They gave me 2 options:
1) Cancel the current policy
2) Retain the existing policy and pay the NCB difference

On replying to them, I was sent a link to pay the difference and the NCB certificate was issued a few hours later.
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Old 1st August 2018, 12:12   #993
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Default Re: Volkswagen Vento : Test Drive & Review

Can someone please confirm if i can get the NCB transferred in my name for the used Vento i have bought recently.

Will a signed and stamped application, mentioning he has no issues transferring NCB in my name, on a letter head from the previous owner suffice?

Kindly suggest !
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Old 1st August 2018, 12:49   #994
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Default Re: Volkswagen Vento : Test Drive & Review

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Originally Posted by SpeedFanatic View Post
Can someone please confirm if i can get the NCB transferred in my name for the used Vento i have bought recently.

Will a signed and stamped application, mentioning he has no issues transferring NCB in my name, on a letter head from the previous owner suffice?

Kindly suggest !
NCB is for the owner, not the car. So you won't be able to get it transferred. But if you had a car which you sold, you can get the NCB of that transferred to your recently purchased car.
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Old 1st August 2018, 13:05   #995
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Default Re: Volkswagen Vento : Test Drive & Review

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Originally Posted by Mohan Mathew A View Post
NCB is for the owner, not the car. So you won't be able to get it transferred. But if you had a car which you sold, you can get the NCB of that transferred to your recently purchased car.
Well that's exactly the info that i was equipped with, before putting this query to Reliance general insurance, which happens to be the current policy provider.

Their executive whom i spoke to, however is confident enough to transfer the insurance policy to my name without charging me the additional amount (deducting the NCB discount the previous owner had availed) only if i submit an application signed by prev owner that he has no issues with the same.

Quite surprising for me as well.
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Old 7th August 2018, 18:38   #996
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Friends , Need your expert advice here.
I sold my Honda car a week back to an individual buyer and had renewed the insurance wide Honda Assurance from Bajaj Alliance prior to sale. I booked a Creta which is at dealer yard waiting to get registered. Hyundai dealer has worked out a deal for me considering NCB from my previous car and is asking me to provide NCB certificate. When approached Honda Assure executive, he's insisting to get the transferred RC copy which is taking its own sweet time at RTO.

Now I have provided a scan copy of form 29, 30, sale receipt , delivery note along with delivery photo and other documents to Honda Assure. They have written to Bajaj Alliance and are waiting for their approval.

Is there any way to get this process done faster?

Last edited by sary : 7th August 2018 at 18:39. Reason: Editorial changes
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Old 7th August 2018, 19:36   #997
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Is there any way to get this process done faster?
An application from you requesting the NCB endorsement from Bajaj Allianz in the meanwhile would move things faster. This endorsement is valid for claiming NCB when buying Insurance for the new car.

Why are you buying Insurance from the Hyundai dealer when you can use the NCB acumulated in buying the Insurance yourself. Most dealers charge exorbitant Insurance premium charges way above the market rates. Instead of Insurance negotiate with the dealer to offer cash discounts.
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Old 7th August 2018, 21:37   #998
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Need help with transferring NCB from one car to another, I'll try to explain the situation as clearly as I can

Car A-Insured with Bajaj (explained below)
Car B-Also insured with Bajaj with 35% NCB in existing policy
Car C- Insured with United India with a 50% NCB in existing policy.

Car A is a 2015 Jetta I bought recently. The insurance was renewed by the previous owner just before the sale was made and is valid for a year from now. To have it transferred to my name, requires paying some 14k odd as NCB charges as the policy has 35% NCB.

Car B(Octavia mk1) and Car C(1988 Maruti 800) I intend to sell soon so I planned to surrender the policy on Car C and use the 50% NCB on the Jetta, however when I contacted Bajaj they refused to honor NCB certificate on this car!

Instead they want me to surrender policy on Car B after the sale is made and they would then transfer the policy on Car A to my name after paying some nominal charges.

However, this isn't beneficial to me as i'd be losing out on resale value for the Octavia. Can Bajaj outright refuse to honor the NCB certificate from United ? What's the best way to proceed ?
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Old 8th August 2018, 08:06   #999
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by shashank.nk View Post
Need help with transferring NCB from one car to another, I'll try to explain the situation as clearly as I can

Car A-Insured with Bajaj (explained below)
Car B-Also insured with Bajaj with 35% NCB in existing policy
Car C- Insured with United India with a 50% NCB in existing policy.

Car A is a 2015 Jetta I bought recently. The insurance was renewed by the previous owner just before the sale was made and is valid for a year from now. To have it transferred to my name, requires paying some 14k odd as NCB charges as the policy has 35% NCB.

Car B(Octavia mk1) and Car C(1988 Maruti 800) I intend to sell soon so I planned to surrender the policy on Car C and use the 50% NCB on the Jetta, however when I contacted Bajaj they refused to honor NCB certificate on this car!

Instead they want me to surrender policy on Car B after the sale is made and they would then transfer the policy on Car A to my name after paying some nominal charges.

However, this isn't beneficial to me as i'd be losing out on resale value for the Octavia. Can Bajaj outright refuse to honor the NCB certificate from United ? What's the best way to proceed ?
Q.1) Are all the car registered in your name?

For Car A, ideally the previous owner should have paid the NCB retention amount since he will be benefiting from the NCB accumulation. If you were to pay the NCB retention then it should have been deducted from car price.

Bajaj cannot refuse the NCB eligibility accumulated on Car C. If they persists, get the NCB endorsement done from United India and buy a new policy with the accumulated bonus. No need to stick with Bajaj. Just buy it from any approved cashless tied up Insurance co. Do provide the docs submitted to the RTO to the Insurance co and after RC change provide them the updated RC.

In no terms resale of the car is related to the NCB
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Old 8th August 2018, 08:33   #1000
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by ghodlur View Post
Q.1) Bajaj cannot refuse the NCB eligibility accumulated on Car C.
Why did they refuse? Was it because of the huge difference in IDV between the M800 and Jetta?

I don't think IRDA mandates any 'IDV range' when applying NCB on the destination vehicle as long as they are 2 wheeler = 2 wheeler or 4 wheeler = 4 wheeler. However, I have heard multiple private insurance staff saying informal company rules exist to prevent huge upscaling of IDVs in such NCB cases.

Maybe ghodlur can categorically clarify?
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Old 8th August 2018, 08:35   #1001
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I just want to clear one doubt on the NCB. How do we get the NCB certificate? My dad was never interested in NCB and despite of we taking no claims for our Santro in past 8 years, dad never got a NCB issued. This time when I asked our agent for the NCB, he said that it is valid only for cars upto 5 years. Since we also have a new car with us which will be due for first insurance renewal soon, I want to know everything about the NCB to prevent any foul play by the agent. So my primary questions is how and when do we get the NCB issued? Any more inputs apart from this question are a welcome.
Thanks in advance.
-Nitin
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Old 8th August 2018, 10:54   #1002
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by _nitink_ View Post
I just want to clear one doubt on the NCB. How do we get the NCB certificate? My dad was never interested in NCB and despite of we taking no claims for our Santro in past 8 years, dad never got a NCB issued. This time when I asked our agent for the NCB, he said that it is valid only for cars upto 5 years. Since we also have a new car with us which will be due for first insurance renewal soon, I want to know everything about the NCB to prevent any foul play by the agent. So my primary questions is how and when do we get the NCB issued? Any more inputs apart from this question are a welcome.
Thanks in advance.
-Nitin
Do you still have the Santro? If not when did you sell it and did it have comprehensive insurance or TP only?
Is the new car in the same person's name?
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Old 8th August 2018, 11:16   #1003
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Do you still have the Santro? If not when did you sell it and did it have comprehensive insurance or TP only?
Is the new car in the same person's name?
Yes we do have the Santro with us. We always have had comprehensive insurance and both the cars are on the same person's name. However we have had different insurance companies for Santro. For the past three years, we are insuring it from the National Insurance.
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Old 8th August 2018, 11:30   #1004
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by _nitink_ View Post
Yes we do have the Santro with us. We always have had comprehensive insurance and both the cars are on the same person's name. However we have had different insurance companies for Santro. For the past three years, we are insuring it from the National Insurance.
Are you planning to retain the Santro or sell it off soon? If the former case, then move the Santro to a TP only policy and request NI for a NCB reservation letter.

Just show the letter during renewal of your new car's insurance and they are
bound to honour it as per IRDA norms. Its very simple although most agents will avoid it as it means extra paperwork etc for them.

I suggest you personally accompany the actual owner of the Santro to the branch office of NI. Similarly, when you renew for your new car too. Much easier in case any forms need to be signed on the spot etc.

I did just this 2 months back when I moved my 50% NCB from my Cruze to my new Creta seamlessly from Bajaj Allianz to Bharti AXA.
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Old 8th August 2018, 11:48   #1005
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by ghodlur View Post
An application from you requesting the NCB endorsement from Bajaj Allianz in the meanwhile would move things faster. This endorsement is valid for claiming NCB when buying Insurance for the new car.

Why are you buying Insurance from the Hyundai dealer when you can use the NCB acumulated in buying the Insurance yourself. Most dealers charge exorbitant Insurance premium charges way above the market rates. Instead of Insurance negotiate with the dealer to offer cash discounts.
Bajaj is very adment on acknowledgement from RTO if not transferred RC.
I will try requesting them to issue a NCB endorsement instead.

The reason for buying insurance from dealer is, they have worked out a deal for me where-in I pay just about 55% that too on a new Creta. This includes 35% NCB from my previous car insurance. Also personally I prefer Hyundai Assurance program for its various advantages.
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