No Claim Bonus

[Policy_expert]

As per my understanding its the duty of the new insurance company to check the NCB status with the old insurance company. But after privatisation, the pvt. companies normaly put this on to the proposer, to get the NCB letter from the previous insurance company.

[Imran]

Hi Guys,
Last month, I have renewed my Santro with TATA-AIG and they didn't give me NCB at the time of renewal. At that time, they told me that they will check NCB with my last insurer and refund me the extra amount if I would have the NCB (Old Insurer - New India). It's now almost three months, and I have called the branch and customer care of TATA-AIG, but still I am struggling to get the NCB refund. Pls guide me what should I do now?
Regards,
Imran

[CONFUSED]

Write a letter to customer care of TATA-AIG. If they won't credit the discount. Get in touch with IRDA to take action against them.

Jaago Grahak Jaago.

[amit_kumar09]

Complaints against Non-life insurance companies:
Private Insurers:
Shri K.Srinivas, Asst. Director,
Insurance Regulatory and Development Authority
Parishrama Bhawanam, 5-9-58/B, Basheerbagh, Hyderabad – 500004.
(040) 23240034
e-mail ids: nonlifecomplaints.pvt@irda.gov.in

Public Sector Insurers:
Mr.R.Srinivasan, Officer on Special Duty
Insurance Regulatory and Development Authority
Parishrama Bhawanam, 5-9-58/B, Basheerbagh, Hyderabad – 500004.
(040) 23381248
e-mail ids: nonlifecomplaints.psu@irda.gov.in

Source - irdaindia.org

[Mrinal]

One strange thing happened with me. I was just checking my old insurance papers for NCB. And I found out that in insurance papers of my 4 year old car is showing 20% and I have not claimed anything till date on this car. So I have lost NCB for these years (due to my looking into the insurance papers ). Is there any way out to get that NCB Back from next year?

[amit_kumar09]

One strange thing happened with me. I was just checking my old insurance papers for NCB. And I found out that in insurance papers of my 4 year old car is showing 20% and I have not claimed anything till date on this car. So I have lost NCB for these years (due to my looking into the insurance papers ).

This is common problem. The agents and underwriters are so busy that they have limited time to check the document and give credit to the policyholder/proposer. At the same time, it is duty of policyholder/proposer to check that all the info is been put in the policy like address, reg. no., CC, NCB etc.

Is there any way out to get that NCB Back from next year?

Please write to the insurance company with the policy/cover note photocopy mentioning the mistake. Insurance company will make an amendment on the policy. And send you the amendment.

[Mrinal]

Please write to the insurance company with the policy/cover note photocopy mentioning the mistake. Insurance company will make an amendment on the policy. And send you the amendment.

Thanks Amit! Do they charge money for this change?

[amit_kumar09]

It depend upon the amendment. In your case - You will get discount in premium. Means Refund.