[condor]

Originally Posted by sarbagna

Since you have a valid insurance which itself highlights the last applied NCB, this should be straight forward..

Thanks, @sarbagna.

TBHP-ian @F50 is in the insurance business, and is the one who has been providing the service for me. His team is working on getting the NCB certificate, and hopefully will get it before the insurance policy for the new car is issued.

[Aviator_guy]

Originally Posted by Mr.Perera

Hi All,
One question. For my new car purchase I took the insurance from the dealer itself. I had a 50% NCB certificate from my previous vehicle. When I told about the NCB certificate the dealer said he just took a new policy 5 mins back and now it wont be possible to add the NCB certificate to it. But he also says that I can visit the insurance office within 90 days and give my new policy document and my previous NCB certificate and they will add the NCB details to the new policy. Looked like the dealer didnt want to reduce his margins from the insurance giving me NCB certificate benefits. Is the 90 days thing true ? If I take my current policy and my NCB certificate will the new insurance company refund me the 50% discount in premium ?

Thanks

Very convenient of your SA to not help you with NCB. You should have insisted on NCB application upfront since you had the letter. Theoretically, NCB can be applied later but it may require you to follow up and do the leg work with no guarantee. Very less chance of success and high effort on your part. Not recommended.

See if there is still some way for you to apply upfront. Dealers usually have option to get the policy cancelled and buy a fresh one if it comes to it.

[sarbagna]

Originally Posted by Mr.Perera

Hi All,
If I take my current policy and my NCB certificate will the new insurance company refund me the 50% discount in premium ?

Thanks

While I will hope for this to happen, I do have serious doubt. Once amount is paid, getting it out may be a tough ask. But I will be happy to be proven wrong.

But the inclusion (of NCB number) is also important.

[SR-71]

Originally Posted by Mr.Perera

Hi All,
One question. For my new car purchase I took the insurance from the dealer itself. I had a 50% NCB certificate from my previous vehicle. When I told about the NCB certificate the dealer said he just took a new policy 5 mins back and now it wont be possible to add the NCB certificate to it. But he also says that I can visit the insurance office within 90 days and give my new policy document and my previous NCB certificate and they will add the NCB details to the new policy. Looked like the dealer didnt want to reduce his margins from the insurance giving me NCB certificate benefits. Is the 90 days thing true ? If I take my current policy and my NCB certificate will the new insurance company refund me the 50% discount in premium ?

Thanks

I speak out of experience, this can be done easily. Once the NCB certificate is verified and approved, they will refund the amount saved by your NCB on a pro-rata basis depending on the pending tenure for that year. It might take a little time, but it's very much doable. In my case the insurance department of the car dealer took care of it. I did not have to do anything other than sending them the NCB letter.

[jinojohnt]

Looking at the dealer insurance quote for the Hycross GXO 7S:
Over all insurance cost (3 years third party plus one year comprehensive) is Approx 1.03 Lakhs.
Out of the above amount, only 40k is the one year 'own-damage' component. Rest is for 3 years third party, bumper to bumper, key protect, etc. Thus if you give a 50% no-claim certificate, you will get only 20K discount (because NCB discount is applicable only on 'own-damage').

So you would be better off by lavishly claiming insurance for your old car rather than footing the bill of small dent repairs just to keep your NCB active. Am I missing something?

[somersault]

Hello All, need some advice. I tried finding through the thread but could not get straight answer.

My old car is in the personal name (my name) and is using NCB of 50%. I want to sell this car, get NCB transfer certificate. But my new car will be company registered and with the user as me only (not lease). Will I be able to use the NCB transfer in this case given the scenario with individual registration and then moving to company registration.

[Aviator_guy]

Originally Posted by somersault

Hello All, need some advice. I tried finding through the thread but could not get straight answer.

My old car is in the personal name (my name) and is using NCB of 50%. I want to sell this car, get NCB transfer certificate. But my new car will be company registered and with the user as me only (not lease). Will I be able to use the NCB transfer in this case given the scenario with individual registration and then moving to company registration.

New car has to be registered in your name for you to be able to NCB from old to new car. If new car is going to be in company name as per RC then you can't use the NCB.

[supremeBaleno]

Originally Posted by somersault

Will I be able to use the NCB transfer in this case given the scenario with individual registration and then moving to company registration.

No. New car has to be in same name as Aviator_guy said.

But you can get the NCB certificate valid for 3 years & use it if you buy a new car in 3 years in your name.

[itwasntme]

Originally Posted by somersault

My old car is in the personal name (my name) and is using NCB of 50%. I want to sell this car, get NCB transfer certificate. But my new car will be company registered and with the user as me only (not lease). Will I be able to use the NCB transfer in this case given the scenario with individual registration and then moving to company registration.

As others have pointed out, your query is unlikely, BUT I would suggest walking into your company's insurer's regional branch (not a sub-office), and speak to the GM.

I know for a fact that the reverse can be done, i.e. if you are buying your end-of-lease vehicle from your company/lessor, the NCB so collected can be transferred to your name. Your company/lessor simply needs to provide a letter stating that you were the 'designated driver', and that they have no objection to transferring the NCB to your name. I have done it personally for my Cruze LT.

In my opinion, IRDA is not as unfriendly today as many in the insurance industry portray it to be. In many cases, queries such as yours requires paperwork and running around by agents, and they do not get adequately compensated for that. Hence, the standard answer is, 'no, it is not allowed by IRDA'.

[abhinavj01]

Can the NCB of an ICE vehicle be transferred to another EV?

[ghodlur]

Originally Posted by abhinavj01

Can the NCB of an ICE vehicle be transferred to another EV?

No, the NCB can be applied to the same category of vehicle.

[Lobogris]

Originally Posted by ghodlur

No, the NCB can be applied to the same category of vehicle.

Are you sure about this? The category is likely not based in fuel type but on vehicle size as in light passenger vehicle. I have switched my NCB from ICE to EV once and then back from EV to ICE and the insurance companies involved never questioned it.

[itwasntme]

Originally Posted by ghodlur

No, the NCB can be applied to the same category of vehicle.

Originally Posted by Lobogris

Are you sure about this? The category is likely not based in fuel type but on vehicle size as in light passenger vehicle. I have switched my NCB from ICE to EV once and then back from EV to ICE and the insurance companies involved never questioned it.

I'm also invested in this answer. I enjoy 50% on both our cars, and while the depreciated IDV is not meaningful, a new EV OD will be much higher (I guess?).

My agent casually mentioned no issues in moving from ICE to EV and back, but wanted an authoritative response.

[Lobogris]

Originally Posted by itwasntme

I'm also invested in this My agent casually mentioned no issues in moving from ICE to EV and back, but wanted an authoritative response.

Well, I have already done it twice with two different insurance companies. So, I am pretty sure it will be ok.

[hemant.kamat]

There's plenty of information on how to transfer your NCB while exchanging your current vehicle for a new one, but what if the new purchase happens to be a pre-owned car?

In my case, I sold off my Tata Nano GenX XT in Feb 2024 and retained my 50% NCB. While purchasing my pre-owned WagonR VXi AMT, I was informed by the insurer (Reliance General) that I had to pay the NCB discount given to the former owner before the policy could be transferred to me, which I did, and that my 50% NCB certificate could be applied only during the subsequent renewal of the policy in my name. Also, a claim was made on the policy (Reliance General Insurance rejects claim due to "previous damages" | Approved after IRDAI complaint) post transfer.

Now that my policy is due for renewal, I find that I'm unable to apply for 50% NCB (due to the claim). Selecting "Yes" to "Have you made a claim in the previous year?" automatically disables the NCB selection dropdown. Also, if I try purchasing an entirely new policy, I don't see any option for choosing NCB (for a pre-owned vehicle). As usual, the insurers are only interested in selling me their policy - they claim that the NCB discount will be applied with refund after the policy is issued, but are refusing to commit the same over email.