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Old 4th June 2019, 08:49   #1111
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Our family has almost finalized a new car. Our old car is being sold as an exchange to the dealer.
Can anyone please guide through the steps that I should follow to get the NCB transferred.

Thanks in Advance.
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Old 4th June 2019, 08:53   #1112
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by Bhatia.D17 View Post
Our family has almost finalized a new car. Our old car is being sold as an exchange to the dealer.
Can anyone please guide through the steps that I should follow to get the NCB transferred.

Thanks in Advance.
Go to your old insurer with a xerox of the old car's sale paperwork and ask for an NCB letter.

Once you buy a new car take the car's documents back to the same insurer and ask them to insure it for you, along with a copy of the NCB letter so they can apply the NCB.

Once your old car's RTO formalities are over, they will expect you to send them a copy of the endorsed RC book from the new owner.
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Old 4th June 2019, 09:11   #1113
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Go to your old insurer with a xerox of the old car's sale paperwork and ask for an NCB letter.
My old car has 25% NCB and the value quoted for new insurance is 29,000. So will the NCB be applied to this whole amount.

Sorry for these small questions.
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Old 4th June 2019, 09:15   #1114
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by Bhatia.D17 View Post
My old car has 25% NCB and the value quoted for new insurance is 29,000. So will the NCB be applied to this whole amount.

Sorry for these small questions.
Yes the NCB eligibility will be applied on the Insurance premium quote. Are you buying Insurance from dealer or on your own? Suggest to buy on your own since the dealer's quote will be an inflated one.

Just ensure that you apply the NCB during the new car insurance buying only and not wait for the next renewal to use it or depend on Insurance co for refund.
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Old 4th June 2019, 09:46   #1115
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Yes the NCB eligibility will be applied on the Insurance premium quote. Are you buying Insurance from dealer or on your own? Suggest to buy on your own since the dealer's quote will be an inflated one.
The above mentioned quote is from the dealer itself.
Car: Grand i10 Asta (P) (including zero dep)
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Old 4th June 2019, 10:31   #1116
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by Bhatia.D17 View Post
My old car has 25% NCB and the value quoted for new insurance is 29,000. So will the NCB be applied to this whole amount.

Sorry for these small questions.
NCB is only for the Own Damage (OD) portion and not on the annually fixed Third Party (TP) part. Please do ensure your insurer either incorporates it directly into the new car first year premium OR you approach the insurer ASAP later and get back a prorated refund!
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Old 10th June 2019, 17:12   #1117
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I got NCB substitution letter from Royal Sundaram. I emailed proof of sale to customer care and have to pay small NCB recovery amount (online). They issued NCB letter and it is valid for 3 years. Whole process took around 10 days. Thanks all.
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