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 Transfer Car Insurance NCD, From old car to new car

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dixonleong
post Jan 19 2018, 11:42 AM

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QUOTE(Exora7118 @ Nov 21 2015, 02:23 AM)
Logical calculation,
You had paid full premium for new policy with 0 NCB, once old NCB reinstate, you usually get refund on the extra premium you paid.
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Scenario: bought new car pay full insurance. My old car in the midst of selling and will cancel insurance in due time.
Question: after i cancrl the insurance of okd car, whats the process of transfering the okd insurance ncb to the new car ? Still can get refund of the 55% from new insurance (which alrd pay full amount) ?

Any guidance and steps is much appreciated
prody
post Jan 22 2018, 01:26 PM

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QUOTE(engtat @ Jun 30 2010, 11:21 AM)
Scenario:
Old car, 55% NCD, insurance agent: eTiQA

Bought a new car but do not want to sell my old car. The new car insurance is with another insurance agent, Kurnia. If I wish to transfer my current NCD to new car, can I enjoy instantly the discounted premium?

The current car agent said, pay full first then rebate later. Feel a bit weird, previous experience was, I only paid discounted premium for my new car, but old car was sold, just this time, I do not want to sell my car which is under my name.

My question is, can I transfer my NCD to new car, and pay my old car insurance (on next renewal) without NCD?

Thanks.
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For me I needed to pay new in full first. Then afterwards I could get the rebate only.
aeiou228
post Jan 24 2018, 03:28 PM

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QUOTE(dixonleong @ Jan 19 2018, 11:42 AM)
Scenario: bought new car pay full insurance. My old car in the midst of selling and will cancel insurance in due time.
Question: after i cancrl the insurance of okd car, whats the process of transfering the okd insurance ncb to the new car ? Still can get refund of the 55% from new insurance (which alrd pay full amount) ?

Any guidance and steps is much appreciated
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Yes, just submit the 55% NCB endorsement to the new insurance company. But 55% NCB refund for the new insurance will be based on pro rata basis. Eg if new insurance already in force for 2 months, you will get 10/12 of the 55%.

game333
post Oct 16 2018, 02:53 PM

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I still don't understand the real concept of NCD stuff.
alpha team
post May 19 2022, 11:13 AM

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QUOTE(aeiou228 @ Jan 24 2018, 03:28 PM)
Yes, just submit the 55% NCB endorsement to the new insurance company.  But 55% NCB refund for the new insurance will be based on pro rata basis. Eg if new insurance already in force for 2 months, you will get 10/12 of the 55%.
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hi , further to the scenario above. once the old car NCB trasnferred to new car, what happen to the old car insurance:

1. continue to use the old car >> will I require to top up the old car insurance to normal 100% in pro rata basis? bcz the 55% NCB ady transferred out?
2. sell off the old car >> will i get back the refund from the insurer in pro rata basis for the 55% insurance premium i have paid for full year?
aeiou228
post May 31 2022, 07:29 PM

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QUOTE(alpha team @ May 19 2022, 11:13 AM)
hi , further to the scenario above. once the old car NCB trasnferred to new car, what happen to the old car insurance:

1. continue to use the old car >> will I require to top up the old car insurance to normal 100% in pro rata basis? bcz the 55% NCB ady transferred out?
2. sell off the old car >> will i get back the refund from the insurer  in pro rata basis for the 55% insurance premium i have paid for full year?
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1, yes, pay back the normal (no NCB) premium on pro rate basis for the remaining coverage period.
2. You will get premium refunded on short period basis if you cancel any motor insurance.
daniellehu
post Jun 1 2022, 08:58 AM

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QUOTE(dixonleong @ Jan 19 2018, 11:42 AM)
Scenario: bought new car pay full insurance. My old car in the midst of selling and will cancel insurance in due time.
Question: after i cancrl the insurance of okd car, whats the process of transfering the okd insurance ncb to the new car ? Still can get refund of the 55% from new insurance (which alrd pay full amount) ?

Any guidance and steps is much appreciated
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All sales are final. You may proceed with the transfer in the 2nd year.
eyerule
post Jun 1 2022, 09:03 AM

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QUOTE(engtat @ Jun 30 2010, 11:21 AM)
Scenario:
Old car, 55% NCD, insurance agent: eTiQA

Bought a new car but do not want to sell my old car. The new car insurance is with another insurance agent, Kurnia. If I wish to transfer my current NCD to new car, can I enjoy instantly the discounted premium?

The current car agent said, pay full first then rebate later. Feel a bit weird, previous experience was, I only paid discounted premium for my new car, but old car was sold, just this time, I do not want to sell my car which is under my name.

My question is, can I transfer my NCD to new car, and pay my old car insurance (on next renewal) without NCD?

Thanks.
*
tell your car agent to help you and pay him a small gaji la.

if you don't want then go do it yourself. since etiqa and kurnia are different companies cannot just interchange the NCD between those 2 companies. you need to go to etiqa and tell them to withdraw your ncd. top up the balance. then get the endorsement letter. pass that endorsement letter to your car agent.

if you want him to do which will most probably use 2-3 hours of his time then pay him some gaji. he will get you to sign an authorisation letter for him to do, also give him money to top up the old car insurance.

once that is done then the new car no need to pay full first lo
mrhrs
post Jun 1 2022, 09:10 AM

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based on my experience.
yes, u can.
but once you can ask for the transfer, u have to pay the difference for the old car insurance.


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