Team-BHP
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https://www.team-bhp.com/forum/)
Quote:
Originally Posted by amanmalhotra
(Post 1517197)
Well, the staff makes a fat commission based on the premium that you pay. So, higher the premium higher the commission. In case you were to tell them to manage it, they would do it rather easily. Just that, it doesn't make financial sense for them personally.
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Little correction hear, Staff get's a salary and agent or dealer get's a commission on the business done. Staff has a target to work for. and agent or dealer work for direct money more premium more money.
Quote:
Originally Posted by oss
(Post 1516821)
That was actually wrong. Not surprised that it happened though, as many time even the staffs are not aware or they don't bother, as it involves more paper work.
In the first case you are not eligible for the NCB. In the second case you are indeed eligible. All you need to do is get a letter from your company indicating that the car was provided to you and you were using it for the last 5 years, and that they have no objection in transferring the NCB accumulated to your new insurance.
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And hence in the second case as I could not get the NCB transferred to my name, now have only third party insurance on that car.
I was all set to transfer my wife's 50% NCB from her Maruti Esteem to the VW Polo 1.6.
Called up Bajaj Allianz today on their help-line and the lady on the line says that I can only transfer from one Maruti to another. I told her that she must be blatantly wrong and so she asked me to contact their local office.
Called up a senior person there and he confirmed that the lady on the line is wrong. But here's the twist -- He says that I still can't transfer the NCB. The reason is because the Esteem has a 1.3 liter engine whereas the Polo 1.6 has a 1.6 liter engine.
I asked him how can you get two engines of the exact same size. So he says that actually there are 3 slabs: below 1000 cc (1 liter), 1000 cc to 1500 cc and above 1500 cc. So that way the Polo 1.6 and the Innova 2.5 both fall in the same category :Shockked:
Can someone confirm this?
I actually called to find out since I may be receiving the Polo 1.6 before the Esteem is sold whether I can get some credit if I show the NCB certificate a few days later. But that didn't even come into question.
Quote:
Originally Posted by nowwhat?
(Post 2039271)
Can someone confirm this?
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They are lying. Thanks to Ajmat, the first time I benefited from NCB was when it was transferred from my Zen to the OHC Vtec. As is obvious, they are from different slabs.
Interesting thread. Now I have a few questions of my own. My car Aveo, is actually in my Dad's name as we bought it from the canteen. As per the CSD rules now (after 2 years) my Dad can sell the car so I plan to get it on my name. So obviously the insurance also needs to be changed
1. From the above discussion I learn that the NCB accumulated by my Dad will not be transferred to my name, I will have to pay the full premium of a 2 year old used car...Is that right?
2. Can my Dad avail that NCB when he buys a new car? For that does he have to stick to the same insuring company? What I mean is that the Aveo while on my Dad's name was insured by Reliance, so when he buys a new car for e.g a swift or an I10, does he have to insure it by Reliance only or any other company will give him the NCB accumulated on the previous car on his name?
3. When the aveo is transferred on my name, apart from the insurance premium, are there any other charges that I need to pay? Thanks and regards.
Quote:
Originally Posted by nowwhat?
(Post 2039271)
...I still can't transfer the NCB. The reason is because the Esteem has a 1.3 liter engine whereas the Polo 1.6 has a 1.6 liter engine.
I asked him how can you get two engines of the exact same size. So he says that actually there are 3 slabs: below 1000 cc (1 liter), 1000 cc to 1500 cc and above 1500 cc. So that way the Polo 1.6 and the Innova 2.5 both fall in the same category :Shockked:
Can someone confirm this?
I actually called to find out since I may be receiving the Polo 1.6 before the Esteem is sold whether I can get some credit if I show the NCB certificate a few days later.
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The engine capacity slabs are there, it's true, but that is to calculate your premium, and has nothing to do with the NCB. Not only Bajaj Allianz, any non-life insurance co. will honour the discount. But there are a few pre-requisites:
(A) The car on which the owner claimed NCB must be sold & the insurance co. notified of the sale, with proof (transferred RC);
(B) The insurance may or may not be transferred to the new owner. Either
...(i) the seller sells the insurance too - in which case he or the buyer has to pay up the discount enjoyed under NCB earlier;
...(ii) the seller does not sell the insurance - the remaining proportional premium amount remains with the seller, to be adjusted in future against insurance on another car;
(C) The next car on which the NCB has to be transferred must be registered in the same person's name;
(D) If your new car is already registered & insured before you sold the old car, take an NCB certificate from the insurer after proving sale of the old car - the certificate is valid for 3 years, and honoured by any general insurance co. So you can claim benefit from the next year.
Quote:
Originally Posted by SS-Traveller
(Post 2040985)
The engine capacity slabs are there, it's true, but that is to calculate your premium, and has nothing to do with the NCB. Not only Bajaj Allianz, any non-life insurance co. will honour the discount. But there are a few pre-requisites:
(A) The car on which the owner claimed NCB must be sold & the insurance co. notified of the sale, with proof (transferred RC);
(B) The insurance may or may not be transferred to the new owner. Either
...(i) the seller sells the insurance too - in which case he or the buyer has to pay up the discount enjoyed under NCB earlier;
...(ii) the seller does not sell the insurance - the remaining proportional premium amount remains with the seller, to be adjusted in future against insurance on another car;
(C) The next car on which the NCB has to be transferred must be registered in the same person's name;
(D) If your new car is already registered & insured before you sold the old car, take an NCB certificate from the insurer after proving sale of the old car - the certificate is valid for 3 years, and honoured by any general insurance co. So you can claim benefit from the next year.
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Quote:
Originally Posted by GTO
(Post 2040703)
They are lying. Thanks to Ajmat, the first time I benefited from NCB was when it was transferred from my Zen to the OHC Vtec. As is obvious, they are from different slabs.
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Thanks for your detailed reply SS-Traveller.
Thanks for your response GTO.
It looks like I won't be able to sell the Esteem before I get the Polo. So I may have to do this next year.
But even then I am not sure I could have convinced the two people I spoke to. VW has some tie-up with Bajaj and VW "wants" customers to take only that insurance at least initially because of the cashless facility. Anyway my existing insurance is also through Bajaj.
Honestly I am shocked with the response of Bajaj Allianz. Based on your replies it is quite evident that they are fooling gullible customers like me.
It works! Thanks to GTO, SS-Traveller & Team BHP for saving me a tidy amount on the insurance of my new car.
I have detailed the information here:
http://www.team-bhp.com/forum/test-d...o-1-6-a-6.html
PS: Sorry for the typo in the title. It should be "Got the NCB transferred from Esteem to Polo"
Quote:
Originally Posted by deky
(Post 2040897)
1. From the above discussion I learn that the NCB accumulated by my Dad will not be transferred to my name, I will have to pay the full premium of a 2 year old used car...Is that right?
2. Can my Dad avail that NCB when he buys a new car? For that does he have to stick to the same insuring company? What I mean is that the Aveo while on my Dad's name was insured by Reliance, so when he buys a new car for e.g a swift or an I10, does he have to insure it by Reliance only or any other company will give him the NCB accumulated on the previous car on his name?
3. When the aveo is transferred on my name, apart from the insurance premium, are there any other charges that I need to pay? Thanks and regards.
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1. Yes you will have to pay full premium.
2. Yes your dad can use the NCB in the new car. He has to get the letter of NCB from the exiting insurance company and go for any insurance company in the market.
3. Only insurance premium my friend.
Guys,
When I sold my Santro (5.5 years old) and bought ANHC last Nov, I missed, rather forgot to get the NCB.
Can I still get it during my renewal this nov?
On Santro last insurance company I was tagged to was Reliance and it's the same for my ANHC too.
Quote:
Originally Posted by raghu230506
(Post 2071311)
Can I still get it during my renewal this nov?
On Santro last insurance company I was tagged to was Reliance and it's the same for my ANHC too.
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Yes you can get the NCB on the renewal. Please check with insurance company what all documents they need to do that.
How do i know how much of no claim bonus i have accumulated over the yrs?
How is the percentage calculated?
How will know how much of rebate i will get on the new car insurance?
Is there any site where i can check the depreciated present value of any car?
I have a CBZ Extreme which has a NCB for 2 years and am selling it now and am buying a new car, can I transfer the NCB benefits of the Bike to my new car?
Quote:
Originally Posted by shantanumishra
(Post 2113779)
I have a CBZ Extreme which has a NCB for 2 years and am selling it now and am buying a new car, can I transfer the NCB benefits of the Bike to my new car?
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No, NCB is transferred within same category of vehicle. 2wheeler to 2 wheeler and 4 wheeler to 4 wheeler.
Quote:
Originally Posted by Visaster
(Post 2105748)
How do i know how much of no claim bonus i have accumulated over the yrs?
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Look up your current insurance policy. It will have the NCB value stated.
Quote:
How is the percentage calculated?
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1st year of no claims : 20%
2nd year : 25
3rd year : 35
4th year : 45
5th year : 50 (maximum NCB). Used to be 65% earlier.
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