NCB (No Claim Bonus) Transfer

Hi, Pankaj I am born Bhavnagari & brought up & settled in Mumbai. Thanks for a very useful tips from you. I am planning to sell my old car which is in my father's name & and am buying a new car in my name. I have a 50% NCB as mentioned in the Insurance policy of my old car which is valid upto 31-03-09. If I handover the Insurance policy along with RC book to buyer of my old car, can I still enjoy the NCB benefit on new car in my name? My new car will be delivered to me with in 2 months. What other papers I need to sought from the buyer so that I do not face in concequencies after a sale date?

You need to handover the Insurance Policy to the buyer, of course - along with the RC Book & TTO form duly signed/discharged in favour of the buyer.  That will not deprive you of the NCB transfer to your new car.

 

By the way Mihir, nice to see someone from the same town (Bhavnagar). Though I do not belong to Bhavnagar, I have relocated here professionally - while you have moved out

Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

For my santro car ,I bought insurance with ICICI lombard and in the second year i bought insured my vehicle with Reliance.My question is
1.How to know how much of no claim bonus i have accrued

2.Can i change my inusrance with various companies every year and still claim no claim bonus

1) NCB is mentioned in the Policy.

 

2) Yes, even if you change the insurance provider every year (or at whatever periodicity), NCB gets transferred/carried forward.

Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

hi Pankaj:

What will be the NCB % transferred to the new car?  If I am enjoying 50% NCB, will the same be transferred?

Regards

Atul

Yes, the % of NCB enjoyed on the current policy/car, will be transferred to the new policy/car.

Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

Can somebody pls tell me what happens to NCB when one purchases a used car and not a new car. Can NCB of my current car be transferred to my a car which is a 2nd hand car (i.e. used car) that i am buying?

can you please advice me suppose some body 5 year old car with NCb of 35%, after sold the said vehicle he purchase new one adn want transfer NCB. as per the above comments, NCB can transfer. But an another case some body may provide documents to different company and NCB of one vehicle may transfered to another new 2 nos. of vehicle. So please advice the documents required for transfer of NCB.