![]() | #16 | |
BHPian Join Date: Dec 2016 Location: BANGALORE
Posts: 215
Thanked: 669 Times
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![]() | #17 |
BHPian ![]() | ![]() 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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![]() | #18 | |
Senior - BHPian ![]() | ![]() Quote:
Procedure: - Get the RC transferred to your name (which is already done) - Get the insurance transfer form (attached) signed by the previous owner - Share insurance transfer form (original) and RC (photocopy) to the insurance service provider (either in person, email or upload through their website. Get it touch with their customer care to understand the easy channel) - You will be asked to pay a nominal fee (usually around 50 INR + 18% GST) - Once payment is done (either online or in person) you will be provided a receipt - Policy after endorsement will be provided immediately or within a week time (depending on their internal procedures) Insurance transfer form.pdf | |
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![]() | #19 |
BHPian Join Date: Oct 2007 Location: Bangalore
Posts: 26
Thanked: 10 Times
| ![]() Folks, I just sold my santro and bought a second hand Honda city. I previously held insurance on old santro with Reliance general insurance with NCB accumulated at 50%. I called up Reliance General insurance today and asked them for a policy for Honda City and asking them to transfer NCB from old policy to this new policy. I was told since the cubic capacity of older car is different from new car, NCB cannot be transferred. It does make sense to me somewhat why such a rule would be in place but I would think they can apply some percentage to accumulated NCB and transfer it. Any leads/ pointers on this ? What's the best way forward? I will be checking with other insurance vendors also for best deal here but understanding the rules would help me negotiate better. Thanks for help ! |
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![]() | #20 | |
Senior - BHPian ![]() | ![]() Quote:
I am sure the City must be having the existing Insurance, continue with it by changing the ownership and then during renewal, apply the NCB. | |
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![]() | #21 |
BHPian Join Date: Oct 2007 Location: Bangalore
Posts: 26
Thanked: 10 Times
| ![]() Folks, Little did I know, I was in for a surprise... maybe it was my lack of understanding. I was under impression that Insurance is given to the car owner (that's why NCB is not transferrable as part of transfer of policy and continues to lie with original policy holder). Hence, I would need to get new insurance policy on my name. I did read on this thread, that once you xfer the RC, insurance company is liable to honor policy even though there is a mismatch between RC and insurance policy. I was under impression this was try for third party liability and not the car itself. It so happened, I called up previous owner's insurance company (HDFC-ERGO) and told them I have bought the car and would need to get a policy on my name. I was told, I just need to provide them photo of RC online and they would xfer the policy on my name. NO Charges, nothing ! I was sceptical but went ahead with the prescribed process and voila within they issued policy in my name for the vehicle , keeping tenure same as original policy at NO charge ! It does not amount to much savings since its valid only for 60 days or so, but I get to kick can down the road and do better research before renewing the policy. I hope my experience , helps others going . |
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![]() | #22 | |
BHPian ![]() | ![]() Quote:
Regards Prsn | |
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![]() | #23 | |
BHPian Join Date: Mar 2015 Location: Mumbai
Posts: 299
Thanked: 494 Times
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#2 is already irrelevant given the lateness of the response. One thing that you can do is to get the NCB certificate from the insurer on you mother's name. This way if you buy another car in your mother's name anytime in the next 3 years, you can get a 35% NCB on the new policy. Hope this helps. | |
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![]() | #24 |
BHPian ![]() Join Date: Jan 2016 Location: Bengaluru
Posts: 794
Thanked: 1,478 Times
| ![]() My car was under company lease which got over recently. I have applied for change of ownership with RTO. While ownership change is already done (as seen on vahan website), but RC is not yet printed. I have contacted my insurance provider HDFC ERGO for transferring insurance to my name from company name, but HDFC ERGO customer support told me that the RC copy is a required document for transferring insurance. What options do I have if I need to claim insurance in this interim period, when car owner name and insurance name are different? Last edited by airbus : 15th April 2019 at 18:40. |
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![]() | #25 | |
Senior - BHPian ![]() | ![]() Quote:
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![]() | #26 | |
Distinguished - BHPian ![]() ![]() | ![]() Quote:
In this case, your company will have to liaise with HDFC to get this process sorted, and you may have to make a small payment towards the same - such as NCB discount if there is would have to be topped up by yourself as the NCB is given to the company who has taken out the policy and not to you. | |
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![]() | #27 |
Senior - BHPian ![]() | ![]() I have a query on transferring the insurance. While i understand that the new owner has to pay the differential such as NCB, I wanted to make use of my existing NCB certificate to adjust the difference. However I am being told that i need to personally visit on a weekday(Mon-Friday) and get the original NCB certificate for them to process the same. I find it bit weird for someone to spend 3-4 hours in a big city like Bangalore for a petty job. Is this the norm with all the Insurance providers or am i taken for a ride by this specific vendor (Royal Sundaram) |
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![]() | #28 | |
Senior - BHPian ![]() | ![]() Quote:
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![]() | #29 |
Senior - BHPian ![]() Join Date: Jan 2014 Location: Bangalore
Posts: 1,461
Thanked: 2,995 Times
| ![]() I am in the same boat and Tata AIG is insisting that I bring the vehicle for Inspection as well for transfer of insurance apart from the documents. |
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![]() | #30 |
Senior - BHPian ![]() | ![]() Try and convince. In my case, I told them that i can only visit on weekends (travel in bangalore takes half a day) and apparently these guys work only 5 days a week. So gave him a piece of my mind and eventually he agreed to receive documents over the courier and i paid 104 rs online (I had NCB certificate which matched the 50% NCB on the insurance, so didn't pay anything extra) |
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