Team-BHP (https://www.team-bhp.com/forum/)

-   Indian Car Loans & Insurance (https://www.team-bhp.com/forum/indian-car-loans-insurance/)

-   -   Insurance and No Claim Bonus (https://www.team-bhp.com/forum/indian-car-loans-insurance/16855-insurance-no-claim-bonus.html)

GUys information needed.
I have bought WagonR from Bangalore, karnataka and currently i am in Chennai tamil Nadu.
Insurance is from Maruti insurance themselves.
So if i try renewing my insurance from Chennai will my NCB be affected?
If so what the best i can do ?

No, your NCB will not get affected in Chennai. Rest easy!

No, not at all. Your NCB will be there. Don't worry. :)

A note for all team BHPians: You are able to transfer your NCB from the car you sold to the new car you purchased. This can be done immediately as well and also across different insurance cos., PSU or private. Just ensure that when you sell your old car, you inform your current existing insurance co., give them evidence of transfer and insist on NCB certificate. Submit this with a letter to your new car insurance co. and voila receive a refund cheque for the NCB amount in % terms of your NEW premium.

Believe me, I have done this several times and the saving in premium can be pretty huge. e.g. your old car premium is 8k with ncb of 40%. You buy new car with premium of 24k. You will get back almost 8-9k as NCD refund and also next year premium will get 50% NCB, if no claim made.

No idea how this is going to work in de-tariff regime from 1/1/07. Presumably, the fact that you have a 40% NCB itself will reduce your premium.

Moderators: Please delete if this has been posted before.

Thanks for the reassuring messages. I went and got my insurance and my NCB is taken into account... :Cheering:. Thanks to our team for the help.

I agree with Sandeep and I have got my NCB refunds as well. What better way but to spend in mods.

Kudos to sandeep108 for your useful info.

But what if the customer postpones his new car purchase for some time (say 6/12 months) after selling his vehicle and if he doesn't have any other vehicle in his name ?

Will he able to retain his NCB with him till he purchases the next vehicle ?

Yes. I think it is valid for upto 3 years. I will have to check... But now with new tariff regime coming in from 1/1/2007, it is academic since all those rules will go out of the window. I doubt that after 1/1/2007 any insurance co. will directly honour NCB certificates, but it should definitely help to convey you are a better risk and so you ought to get some discount, if not exactly as per old NCB.

Yes, NCB certificate is valid for 3 years. Don't know what the new regime will do.

always useful to carry the insurance renewal notice to claim NCB when transferring from one compan to new company if its during renewal period