No Claim Bonus

[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.

[Harish Rawat]

I have bought a second hand vehicle in June’2009 and the insurance, I have had transferred in July’2009. Now I have received renewal notice without a 20% NCB. But as per info provided above, the insurance company has to give me 20% NCB. Should I call the insurance company and discuss or is there any rule I am missing in?

[amit_kumar09]

The insurance company is right, you need to complete one complete year to be eligible for NCB. But in your case, as you have bought a second hand car and continued with the same insurance, on renewal date the one year is not completed, so you would not be eligible for NCB.

[Harish Rawat]

The insurance company is right, you need to complete one complete year to be eligible for NCB. But in your case, as you have bought a second hand car and continued with the same insurance, on renewal date the one year is not completed, so you would not be eligible for NCB.

I could not get you here that one year not completed, could you please tell me with example. If you want more details from my side, please let me know.

[amit_kumar09]

I could not get you here that one year not completed, could you please tell me with example. If you want more details from my side, please let me know.

Harish – As per the dates provided by you above, You have bought second hand car in June’2009 and got the same insurance transferred in your name in July’2009. Now you have received renewal letter, so just assuming that the renewal date is somewhere near March’2010 end week or First week of April’2010. So the total period you have driven the car with old insurance is (June’2009 to March’2010) 10 months. 2 months short of 1 year. As per NCB rule, you need to complete one year with the insurer without claim. Hope now it is clear to you.