Well

Once you current/old car insurance company release the NCB
it might have a letter, perhaps,

but the idea is all insurance company have a database to check


please ask your SA what is required
typically a day to process and the next day will be done

I actually meant the documents needed when I visit the insurance company to withdraw my NCD...and how long they need to release my NCD?

My SA just requires a receipt to prove that NCD has been released. Details on how wise he not too sure

Typically do you do your own insurance payment yearly

I just bring along my pink slip
And tell the insurance agent I wanna to withdraw the ncd on the car

They will the recalculate what's left for the remaining months cost and I just pay to cover it

I think this day and age,
It is simple
As your info is with the insurance company
Some verification and calculation
The ncd will be remove from the current car

What your SA is asking for is not required. Your NCD is in a publicly accessible online database which your new insurance co. can refer to determine your premium. There is no need for your present insurance company to release your NCD.

This post has been edited by Ginny88: Nov 25 2018, 10:34 AM

Oh but you must request for withdrawal or cancellation, otherwise the NCD will remain with the current car. Knowing what's available and making it available for the next car are two separate matters. If the current insurer doesn't release the NCD, the owner cannot request for premium rebate for his next purchase, unless the current policy with the NCD has already been cancelled or lapsed. You can't share NCD between two cars, it is mutually exclusive only to one vehicle, unless you have multiple policies under the same owner.

Actually, the SA is supposed to advise and help you get it done. Must be a noob in the car line.

There are two ways as told by my SA:
1. You pay full premium for new car, then baru transfer the old NCD to new car, and get refund from the new insurance coy.
2. You top up money to withdraw your existing NCD to transfer to new car. The benefit is your new car premium should cost more than the old car so your capital outlay is lower compared to option 1.

My experience recently (I chose option 2):
1. Telephoned the insurance coy saying I wanted to withdraw NCD as I booked a new car. I called them a few days before my new car was due.
2. Insurance coy emailed me some forms to fill (NCD withdrawal, credit card payment slip) and sign, after telling me how much I need to top up for the old insurance for the remaining insured period.
3. Filled up the forms, scanned and emailed them.
4. They emailed me back with the NCD withdrawal notice, iirc on that same day or the next day.
5. I just had to show my new car SA the letter, but he did not need it as he told me his computer system had already indicated my available NCD for new car was 55%.

Your SA is lousy as this should be a common thing and he should know how to go about doing it.

+1

+1
My SA did the option 2 too as he also told me might take a while to get the refund if go for option 1 and as what you said, lower capital outlay.

Must be very lousy SA or just damn lazy.


This post has been edited by widget: Nov 26 2018, 12:00 PM

Transferred old NCD to new car on August.

Checked online, the NCD still under old car plate which already expired.

Anyone have this experience? Have to contact SA to do something?

Best check with the insurance company. Unless, by "transferred old NCD to new car" you meant you enlisted your SA to help do it and he hasn't done it yet then best check with the SA. Usually, if you had successfully transferred the NCD you would have received a refund on the old policy that was terminated, plus a separate refund on the premium paid for the new car amounting to the NCD percentage that was transferred over.

Most insurance companies take around 1-2 days to transfer the NCD and 30-45 days to process the refund if any.

Thx bro for the reply.

Initially SA done a deduction on Insurance Premium @ down payment..because tat time i already sold my old car..

This morning have a sudden tot so went to check online....mane tau still under Old car which already expired...

i contact my SA and see....thxxxx

How did you transfer the NCD - the procedure?
Your new car policy should state the NCD, and it will be the same NCD as your old car if you did the proper transfer.

I checked mine which was transferred in August this year, -under old car plate the NCD has become zero, whereas it reflects the actual NCD when I key in my existing car plate number.

I'd call the SA and current/previous insurance companies to find out what happened.

My SA did the NCD deduction for me on the new car.

My old car plate still show 55% which is expired, new owner same car plate 25%..

Got the insurance premium schedule from my SA, just ain't sure why its not online....

Have to call insurance kut....haha

sorry to trigger back this post... just want to confirm... when insurance calculate the left over for old car and we pay the amount... meaning the old car will have insurance up to due date right? and new car will have 55% ncd transferred.

example: old car insurance, NCD 55% due at Jan2020, but buying new car on Oct2019, so insurance will calculate oct2019 - jan2020 (0% NCD for new car) and we need to pay the amount. After that insurance will issue endorsement letter to transfer 55% NCD to new car... starting Oct2019

is it correct?

thanks.

This post has been edited by jabz: Oct 17 2019, 06:00 PM

not quite

its reverse actually


old car full insurance RM 480/year , equal to Rm40/mo
NCD 55% deduction = Rm216, which equal to RM18/month
end on Jan 2020

new car bought on Oct 2019
Insurance is RM 4800/year, @ RM400/month with 0% Ncd


Now you do the process of transfer out the NCD, or as they say, release the NCD
you want to do it on 1st Oct

The old car end on Jan 31, so that is 4months from Oct 1

to release you need to top up Rm22/month (Full RM40 - Paid NCD RM18 for 1 month x 4 months)
which is RM 88 for the remaining months till Jan 2020

The NCD release and attached to your new car
So instead of paying RM4800/year
you instantly pay RM 2160 from the start

if you delayed
yes they will rebate back the price difference for the remaining months of the new car

let say you delay by 3months
they will reimburse you 9months if you decide to transfer NCD on end of Jan 2020
the 3 months will not be reimbursed

and the old car you just have to pay extra RM88 to continue till Jan2020,
and RM480/year from Feb2020 onwards

This post has been edited by mcchin: Oct 17 2019, 06:44 PM

sorry my mistake... my question for oct19 - jan20 0% NCD is not the new car but for old car...

and thank you for clarifying... as u mentioned here... "and the old car you just have to pay extra RM88 to continue till Jan2020,
and RM480/year from Feb2020 onwards"

thank you again...

Hello, can motorcycle ncd transfer to car?

if im not mistaken... it cannot since not in same category...

Does anyone know if we have more than 1 car & claim insurance, will the ncd reset for other car as well?

if car A to cancelled insurance, can keep how long for the ncd until transfer to another car B?