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Originally Posted by alto99 I called ICICI Lombard customer service multiple times but what they had always said was that based on the proof of sale I can get only the NCB reserving letter and not the NCB certificate.
Further as I have sold to a dealer and do not know the exact buyer, I dont know how I can formally inform ICICI Lombard so that they can transfer the insurance to the buyer and issue me a NCB certificate?
The executive from whom I bought the new insurance also says that certificate will be issued only after RC book is produced. Without that and on the basis of NCB reserving letter I cannot get the new policy endorsed for transfer of NCB.
I will call bajaj allianz directly to get their view on the last part. |
First and foremost STAY AWAY FROM ICICI LOMBARD.
I have had no isues with NCB when I changed cars. I am sure they did not bend rules for me. My C class was insured with Iffco Tokio with 50% NCB. I submitted a copy of the certificate to Bharti AXA when I bought the insurance for my E class. The NCB was transferred to the new car. Subsequently I submitted to Iffco Tokio the Form 29 and Form 30 (for West Bengal transport authority, you will have similar documents in your state) evidencing that I had sold the C class along with a request for cancellation of the policy on the C Class. I received the refund check in the mail from Iffco Tokio in a months time.
It worked even better when I changed my second car from a Wagon R to a Swift. I had bought insurance from Maruti (bajaj Allianz) and I stayed with them for the Swift. The whole switch happened without any hitch. No NCB certificate was demanded.
In neither case I had sold the car prior to switching the NCB. I surrendered the original Insurance certificate. Cancelled the insurance and bought a 7 days cover for the cars I sold and transferred the NCB to the new insurance I bought. If you feel that you may take longer to sell the car buy a 30 day cover for it.
You must check with your insurer. I have used HDFC, Iffco Tokio, Bajaj. No NCB issues with these folks.
Honda City to Honda Accord to Merc C to Merc E - no NCB issues.
Zen to Wagon R to Swift - no NCB Issues.
About selling the car -- YOU MUST GET THE COPY OF THE NEW REGISTRATION CERTIFICATE / SMART CARD from the dealer who arranged the sale. This is absolutely a must. If the new owner does not change the registration and the car is involved in a road crime or loss of life or whatever, the cops will come knocking on your door. Good that you sold through a dealer - he is obligated to give you a copy of the certificate and completed copies of form 29 & 30 (corresponding to your state). He should have copies of these documents as his records. The cops do not recognize the sale deed, forms etc. To them the owner is the person the car is registered to. I have witnessed this predicament with a friend of mine whose car (which he had sold) mowed down a couple of people on the highway. The harrasment / court case etc. is a monumental pain. I do not want to put you in panic but it could become disastrous for you if the car is involved in terrorist activity or a kidnapping and the registration is still in your name. Get a copy of the new regiistration certificate ASAP and keep it safely in your file.
This would be my advice to all selling cars, ensure that the name change happens and you get a copy of the registration certificate. Sell through reputed dealers even if it means a small loss in the price. It will be made up by the peace of mind. If you do private transaction, get it done yourself. Keep a copy of the certificate in a safe place.
Regards |