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Old 24th March 2020, 21:59   #1201
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by hserus View Post
Do it online and it should go through
Of course, my first attempt was online. But the system in not able to pull the data probably because of the 3 year validity of the 3rd party insurance. Royal Sundaram customer support(Renewal department) is not responding as well. Now with this complete shutdown, there is very less probability of receiving a call back.
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Old 24th March 2020, 22:05   #1202
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by arun_josie View Post
Of course, my first attempt was online. But the system in not able to pull the data probably because of the 3 year validity of the 3rd party insurance. Royal Sundaram customer support(Renewal department) is not responding as well. Now with this complete shutdown, there is very less probability of receiving a call back.
Their guidance is to send an email in case of problems and they will eventually reply. All their customer service staff are working from home so email will work well. customer.services@royalsundaram.in
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Old 24th March 2020, 22:17   #1203
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Their guidance is to send an email in case of problems and they will eventually reply. All their customer service staff are working from home so email will work well. customer.services@royalsundaram.in
I received the below response 2 days back. Anyways, one more week to go before expiry, will wait.

Quote:
Greetings from Royal Sundaram General Insurance!!
We are arranging call back for you from renewal team and they will contact you within next 2 days.
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Old 9th April 2020, 23:36   #1204
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I had applied for NCB certificate for my Figo which was sold last year with Royal Sundaram.
They are asking me to pay 2081Rs towards issuance of the certificate claiming it as a NCB recovery amount. Is this standard practice? I had 50%NCB on the Figo.
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Old 10th April 2020, 09:24   #1205
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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I had applied for NCB certificate for my Figo which was sold last year with Royal Sundaram.
They are asking me to pay 2081Rs towards issuance of the certificate claiming it as a NCB recovery amount. Is this standard practice? I had 50%NCB on the Figo.
That is correct as far as I know. Just consider it as a part of the 'selling cost' from your Figo sale. .
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Old 10th April 2020, 10:31   #1206
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by Deep Blue View Post
I had applied for NCB certificate for my Figo which was sold last year with Royal Sundaram.
They are asking me to pay 2081Rs towards issuance of the certificate claiming it as a NCB recovery amount. Is this standard practice? I had 50%NCB on the Figo.
This is the NCB Recovery cost that the new owner has to pay to transfer the insurance to his name. Not you. In that sense what 'itwasntme' said is correct.

If the Insurance is to be cancelled as the new owner has made his own arrangement or bought another Insurance, then give a copy of that insurance to Royal Sundaram and ask them to cancel the Insurance policy in your name

No "Fee" is applicable for issue of NCB Certificate per say. If that is the demand, please take it up with Grievance Cell of Royal Sundaram or the Insurance Ombudsman of your state or write to IRDA

Best Regards & Drive Safe

Ram
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Old 28th April 2020, 07:56   #1207
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

Hope everyone is safe and well during these terrible times!

Had a query on my Creta which we are planning to sell as soon as the lockdown is over. We had anyway planned to do so earlier, and not as a result of the lockdown :-).

It is insured with Royal Sundaram till early July with a NCB of 50%. I want the NCB reservation letter ASAP as we MIGHT concurrently buy another vehicle. Hopeful of selling within ~2/3 weeks of the lockdown ending in KA.

How to go about the letter?
1. Should I approach Royal Sundaram now with my plans to sell it, ask them to cancel the OD portion, and issue me the reservation letter?
2. Wait till I actually sell it and then approach them with the sale note?

I prefer #1 but will they oblige?

Last edited by itwasntme : 28th April 2020 at 07:57.
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Old 5th July 2020, 17:35   #1208
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I have a question:
Can NCB certificate be used to get reduction in premium when you buy a used car?
I am getting conflicting messages.
I sold my car and have bought a used car.
I reached out to Bajaj allianze, who is the insurer of my old car for NCB. While speaking to him he said that NCB certificate can be leveraged ONLY for new car and not if I buy a used car. Can experts please guide ? Thanks.
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Old 5th July 2020, 17:56   #1209
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by pranav_mankad View Post
I have a question:
Can NCB certificate be used to get reduction in premium when you buy a used car?
I am getting conflicting messages.
I sold my car and have bought a used car.
I reached out to Bajaj allianze, who is the insurer of my old car for NCB. While speaking to him he said that NCB certificate can be leveraged ONLY for new car and not if I buy a used car. Can experts please guide ? Thanks.
That is nonsense. Iíve transferred ncb to used cars before and it is routine.

Did you ask the insurer at their office or did you ask an agent or call centre
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Old 5th July 2020, 18:04   #1210
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by hserus View Post
That is nonsense. Iíve transferred ncb to used cars before and it is routine.

Did you ask the insurer at their office or did you ask an agent or call centre
I asked Bajaj Allianze local ( Bangalore Whitefield ) office. I called them up. They asked for documents which I shared. After inspecting those,they replied saying this is not possible. It is applicable only for new car.
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Old 5th July 2020, 18:29   #1211
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by pranav_mankad View Post
I asked Bajaj Allianze local ( Bangalore Whitefield ) office. I called them up. They asked for documents which I shared. After inspecting those,they replied saying this is not possible. It is applicable only for new car.
I have renewed my car insurance in New India. My used Scorpioís insurance had less than a week to expire so I renewed with new india on the basis of sale paperwork and a hard copy ncb letter from my old car. They happily transferred the 50% ncb across.
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Old 28th July 2020, 16:22   #1212
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I am having some questions, hope someone could answer. Went through the thread, could not figure out the answer I am looking for.

I am trying to transfer my NCB (NCB reserving letter) of my old car, that I sold to Car24. Insurer is Bharti AXA. When requested they asked for form 29 and 30. I submitted the delivery note, but it seems form 29, 30 is mandatory. But these two forms I filled up, signed and given to cars24 and according to Cars24 these would be submitted to RTO and no copy is returned back. Then how can I give these form 29, 30 to Bharti axa?

Shall I just download and fill the form same way and submit to Bharti axa or anything else to do? So far I tried to do it by calling customer care, does going to branch helps?

What are other ways to get NCB reserving letter? Need to get that within two weeks while buying the new car.

Thanks in advance.

Last edited by dipdawiz : 28th July 2020 at 16:44.
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Old 28th July 2020, 16:44   #1213
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by dipdawiz View Post
I am trying to transfer my NCB (NCB reserving letter) of my old car, that I sold to Car24. Insurer is Bharti AXA. Then how can I give these form 29, 30 to Bharti axa?

What are other ways to get NCB reserving letter? Need to get that within two weeks while buying the new car.
1. Check on the Vahan site if your car has been sold to the buyer or not.
2. Concurrently, demand a copy of the forms from C24. They are bound to share a copy of the same.
3. There is no hard and fast rule that a NCB has to be submitted with 2 weeks of buying a new car. As long as you submit the NCB within a reasonable time (say<45 days), no insurer can refuse a prorated refund.
4. Ask for the IRDA clause that mandates such a deadline from your new insurer.
5. Anyway, definitely indicate formally (email/letter) that you intend to submit the NCB letter, and you are making best efforts to procure it from your old insurer.
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Old 28th July 2020, 17:52   #1214
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

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Originally Posted by itwasntme View Post
1. Check on the Vahan site if your car has been sold to the buyer or not.
2. Concurrently, demand a copy of the forms from C24. They are bound to share a copy of the same.
Thanks for your respone.

The car is yet to be sold to a buyer (Vahan still shows my details). Now for point 2, I called cars24 person who dealt with it, and she is saying they don't give form 29, 30 (mostly because its not signed as they don't have buyer yet, not sure). She even suggested to download and fill the form myself and submit etc. So raised a ticket with cars24 call center asking to share me those forms. They took the request, lets see if it helps me getting the forms. If I get the forms, hopefully Bharti AXA would be mailing the reserving letter without fuss.

Otherwise thinking, whether going to Bharti Axa branch would help to get the same with only delivery/sale document. This insurance would be expiring on 26th of August. So planning to get things done within that time.
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Old 8th September 2020, 16:31   #1215
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Default Re: ARTICLE: No Claim Bonus - How to save on your insurance premiums!

I recently sold one of my cars and got the NCB Certificate (From New India Assurance). Was having 25% NCB and was bound to get 35% NCB starting 04-Oct-20.

My other car currently has third party insurance (with ICICI) which is valid till 30-Sep-2020.

I'd like to get a new Comprehensive Insurance for my current car on 1-Oct-20 with the 35% NCB transferred.


Spoke to Policy Bazzar agents and as usual they say NCB can be transferred only to New cars and not used cars. I know this isn't true.


Then I called the local office of New India Assurance. Gentleman said he can process the request if I provide the hard copy of NCB. His quote is ~17,143 for IDV of 8 lakh with Zero dep.

Then I checked Policy bazzar again with no NCB, quote was ~14,479 for IDV of 8.73 with Zero dep.

I'm wondering if I should get the Policy from Policy bazzar with 0 NCB and then request a refund from New India Assurance against the 35% NCB which I'm bound to get.

Request opinion of fellow BHPians.
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