[Fillmore]

Originally Posted by ghodlur

Unfortunately you cant transfer it now. You should have applied the NCB from old car to the new car before buying the insurance of the new car. Now you can opt for the amount equal to the NCB and will have start from zero NCB.

I spoke to the Insurance company. They said now that the policy is already issued they cannot do anything, however when renewing it they can credit the NCB points in full.

[ajay99]

Originally Posted by anirudhbb

Yup. I hear you.

Any idea from Rs 78k which is what I am paying, post NCB how much can it come down to potentially?
Is there any transparency on the benefit applied due to NCB?

Of course it is all a transparent process. Please look at the own damage premium and apply 50 percent discount on it. That is what you will benefit

[anirudhbb]

Originally Posted by ajay99

Of course it is all a transparent process. Please look at the own damage premium and apply 50 percent discount on it. That is what you will benefit

They have not shared the Insurance Premium details, they are saying once NCB is applied they will apply it and send it.

[ajay99]

Originally Posted by anirudhbb

They have not shared the Insurance Premium details, they are saying once NCB is applied they will apply it and send it.

You can get the Third party premium from the net. It is more or less same across all companies.

[hp52_vishy]

I am new to the forum so may be late in posting a reply. But hopefully it helps someone else if not you
One may try to :
1) Cancel existing insurance incase its within "cooling off" period and get a new one with NCB benefit, OR
Source: https://www.bankbazaarinsurance.com/...ce-policy.html
Excerpt:
" you take out a car insurance policy, you'll start a “cooling off” period - something you're entitled to by law for all types of insurance. It means you have at least 14 days, starting when you receive the paperwork, to change your mind about your insurance and cancel your policy without paying any extra"

2) Apply NCB benefit later- although I have practically not gone this route.
I was also told by my previous insurer and the dealer that new insurer can apply NCB benefit on production of NCB certificate post issuance of new insurance. However, I made sure I had this benefit when paying the money upfront as am constantly advised by my father to always not believe in refunds.

3) Weigh in cost-benefit and decide to cancel existing incase NCB benefit outweighs . how much you pay pro-rated for the active insurance period till cancelation. One can easily line up several insurance brokers to get a great deal

[Fillmore]

Originally Posted by hp52_vishy

I am new to the forum so may be late in posting a reply. But hopefully it helps someone else if not you
One may try to :
1) Cancel existing insurance incase its within "cooling off" period and get a new one with NCB benefit, OR .....
It means you have at least 14 days, starting when you receive the paperwork, to change your mind about your insurance and cancel your policy without paying any extra"

I was not aware of this 14 day cooling off period.
Had I known that I would have cancelled the Insurance policy that was part of the Registration etc.. done by the Dealer.

And would have continued with the existing company of the old car in which case the NCB transfer would have been a breeze ..

Edit : I just read the article you posted , and from that it appears that you can cancel it anytime. The Premium amount should be pro-rated.

[KNL_Bandi]

I sold my Swift VDI in 2017 and signed the paperwork, and it looks like the new owner still has not formally changed the ownership.
Whilst I understand that it is risky for me and I need to get the ownership changed, I request your input on the following:
Can I get the ownership changed now and simultaneously get the NCB certificate? (effectively, it means I am selling my vehicle in the year 2022 instead of 2017)
Can I use this NCB on a higher segment vehicle (from Swift to Scorpio N or Tuscon)? I read somewhere that the NCB cannot be transferred to bigger engines/ higher segment cars.

[hp52_vishy]

Originally Posted by KNL_Bandi

Can I get the ownership changed now and simultaneously get the NCB certificate? (effectively, it means I am selling my vehicle in the year 2022 instead of 2017)

Yes, incase the insurance is being bought in yourname with your NCB benefit being carried on. You may want to check online on GoI parivahan portal to verify if an active insurance exists or retrieve information of insurance from DigiLocker. However, reading your scenario I'm doubting either parties have renewed insurance.

Originally Posted by KNL_Bandi

Can I use this NCB on a higher segment vehicle (from Swift to Scorpio N or Tuscon)? I read somewhere that the NCB cannot be transferred to bigger engines/ higher segment cars.

Indeed! Examples you've mentioned are all categorized as LMV-NT (Light Motor Vehicle Non Transport). You cannot move NCB benefit across classes of vehicles e.g. MCWG (Motorcycle with gear) to LMV-NT and vice-verse. Here's a link to Himachal RTO class of vehicles for reference

https://himachal.nic.in/WriteReadDat...E-89086312.pdf

[Romins]

My Santro is more than 15years old and Acko doesn't give full cover anymore. They issued an NCB certificate. It says:

There were no claims reported under the policy as on 15 MAR 22.
The insured is hereby entitled to 50% NCB bonus.

In the event of the vehicle continuing in the ownership of the insured named herein, the NCB will
be available within a period of 90 days from the date of expiry of the policy mentioned above. In
the event of sale of this vehicle by the Insured, the NCB will be available within a period of 3 years
from the issuance of this certificate.

I didn't sell my Santro and RC has my name. Recently I bought another car. Can I claim NCB on this car? Can I claim NCB only if I sell my Santro?

[r_nairtvm]

Originally Posted by Romins

I didn't sell my Santro and RC has my name. Recently I bought another car. Can I claim NCB on this car? Can I claim NCB only if I sell my Santro?

You don't have to sell the Santro. You should have claimed the NCB when you took Insurance for the new car. You can try with the Insurer if they will entertain your NCB Cert and give you a refund.

Nevertheless at the renewal of the policy of new car you can go for 50% NCB using the Certificate you have, provided the renewal falls within 3 years of the certificate.

Best Regards & Thanks

Best Regards & Drive Safe

[Govind]

Originally Posted by Romins

My Santro is more than 15years old and Acko doesn't give full cover anymore.
...
I didn't sell my Santro and RC has my name. Recently I bought another car. Can I claim NCB on this car? Can I claim NCB only if I sell my Santro?

No need to sell the Santro to claim NCB as the new vehicle is of the same class.

Assume that you have informed the details when the new car is booked. Since, some showrooms don't entertain insurance from other parties, and reluctant in providing any discounts. The procedure is:

First, surrender the NCB of current insurance by paying the claimed NCB for the remaining period of your Santro (say if 3 months are remaining for the insurance to expire, need to payback the No Claim Bonus for the remaining 3 months) by going to the regional office of provider - need to give a request, copy of RC.

It will take a few days to get the NCB certificate. Submit the NCB certificate in original and mandate to apply the same to the new vehicle.

Since you have more than one vehicle, do not include CPA in all those, as just one is enough.

Compulsory Personal Accident (CPA) cover is a standalone Personal Accident Cover for owner & driver of the vehicle. Just one is required against your driving license.

/Govind

[Romins]

Originally Posted by r_nairtvm

You don't have to sell the Santro. You should have claimed the NCB when you took Insurance for the new car.

I bought a used car in April and RC got transferred just last week. I renewed the insurance in the previous owner's name in July. Last week, I have sent insurance company (IFFCO) the RC copy and NCB certificate, with a dozen pictures as per their web application. I hope I will get 50% NCB, though 90 days from the NCB issue date is over.

"In the event of the vehicle continuing in the ownership of the insured named herein, the NCB will be available within a period of 90 days from the date of expiry of the policy mentioned above."

[rayjaycleoful]

If my old car is in my father's name and new car will be in my name, can i still get ncb benefit?

[Haldian]

Originally Posted by rayjaycleoful

If my old car is in my father's name and new car will be in my name, can i still get ncb benefit?

The NCB certificate / reserving letter issued by an insuring company is in the name of insured person, which is tied per ownership of the vehicle. So, no - you won't, even if potentially last few years the NCB is due to your good driving practices, and hence no claim.

[naru80]

Please help!

I had an Acko policy for my i10. I sold the car just before the policy expired in June.

Yesterday when i called Acko, they said the NCB certificate is issued only uptil 90 days after the expiry of the policy.

This was a shock since I had checked with Acko before selling and i was told the NCB would be valid for 3 years. At that time they did not mention about the 90-day limit.

I had a 50% NCB. They are willing to send an email attesting that there was no claim in the last year but won't issue a certificate. Is there any way I can still avail the NCB when i buy a new car?