You can transfer NCB of old car to new car

I do insurance work. Mr Virmani has brought out a very important point. He is right. The no claim bonus is the privilege given to the owner for good and claim free driving. You can retain this benefit while buying a new car. Three years back I had 65% (65%? ..yes) No Claim Bonus (NCB) with my old car. When I bought a new car they said they are offering free insurance for first year and "transfer of NCB is not possible". But when I insisted, they reduced the price of the car by equivalent amount and I got 65% NCB with my new car. (I still have 65%NCB) more  

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THANK YOU FOR YOUR PROMPT RESPONSE. WILL BE IN TOUCH SHORTLY. more  
Yes Mr Walia, you can can carry your NCB to other insurance Company if you switch over. Please contact me at 9910984095 for any queries or requirement more  
RAJESHWAR JE: PLEASE CORRECT ME. NCB IS POSSIBLE IN THOSE CASES ALSO IF YOU SWITCH OVER TO THE OTHER INDURANCE COMPANY. BY THE WAY, WHAT INSURANCE COMAPNY YOU DEAL WITH? more  
It is very clear, thanks a lot Rajeshwer Dayal Ji. more  
Khan Sahab, When you buy a new car, under a 'comprehensive' policy, you pay for Own damage (OD) as well as third party liability(TP). OD Premium is calculated on the original value of car and there is zero 'no claim bonus'(NCB). After one year, if there is no claim, you get a NCB. This is in the form of discount on your OD premium (calculated on depreciated value of car), which progressively increases with every claim free year, going up to a max of 50% (it was up to 65% earlier, now 50% ). When you buy a new car, you can now ask for zero dep (depreciation) policy- this option is now available for the last few years. In this option in case of claim the insurance company will pay you value of replacement part without depreciating its value (which they do in a normal policy). Hope this answers your query more  
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