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 Car NCD transfer, How to do the transfer and when to do it

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unknown_2
post Apr 27 2024, 10:56 AM

On my way
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573 posts

Joined: Mar 2012


QUOTE(James2278 @ Apr 27 2024, 09:07 AM)
Hi guys,

I've been thinking about getting a recond Toyota Harrier.

I currently have another car with NCD running but I'm hoping to still keep the car afterwards.

Currently thinking about transfer the NCD to harrier because the insurance will be much higher.

My old car's insurance will neednto be renewed in June this year so do I have to wait until then to transfer..?

How do I carry out the transfer and do I have to renew for a whole new year to reflect the updated NCD before I transfer?

The current NCD is only 30%

Thank you so much in advance!
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when u purchase your new car, let your agent knows that u want to transfer ownership of current car to new car.
for a smooth process, u need to do the following:

1) purchase new car insurance will full (no NCD).
2) ask your agent to trigger the transfer of NCD
3) old insurance company will recalculate & ask u to pay the additional amount of no NCD of remaining insurance tenure.
4) new insurance company will contact u & issue the refund of your new car NCD. they will usually tell u takes 2 weeks for refund, but most of the time u'll get it within days.

of coz, if your new car is using the same insurance company as old car, the process will be much seemlees.
additional fact: 1 person can hold 2 active NCD.
unknown_2
post Apr 27 2024, 10:59 AM

On my way
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Junior Member
573 posts

Joined: Mar 2012


QUOTE(xtreme_paranoid @ Apr 27 2024, 10:03 AM)
A bit off topic. My old car sold about 2 years ago
Bought new car without transfer the NCD

Possible to transfer the NCD to the new car after 2/3 years?
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depends how many % of NCD u got.
when u hold active NCD, each year u'll get increase discount until 55%.
but if u let your NCD idle, each year will decrease discount.

so if u only hav 2 years worth of NCD discount for example, after 2 years of idle, already bck to 0%, so might as well as stick wit your current NCD.

 

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