Documents required to transfer NCB certificate

A valid NCB certificate is proof of your safe and responsible driving. In other words, it is an endorsement of your claim-free history, and an incentive to maintain it that way. An NCB certificate is a document that shows your NCB percentage earned in the past years. When you sell your vehicle, you can use the discount to purchase a better insurance policy for your next vehicle. The best part of earning an NCB is that it belongs to you and not your vehicle. Even if you sell your car/ bike, you will not lose out on the bonus. It will not be transferred to the buyer.

Also known as NCB reserving/retention letter, the no claim bonus (NCB) certificate is valid for three years. This indicates when you buy a new car within three years, your NCB discount needs to be transferred to your new policy.

How can I get an NCB certificate?

After acquiring an insurance policy you, the policyholder, will get an NCB certificate. It is now your decision whether or not you want to make claims within the policy year. In case you apply for it, the NCB certificate benefits will not be available for you the next year. However, if you don’t avail it for the entire year, you will be eligible to receive the benefits.

How to transfer NCB from one car to another?

The NCB certificate transfer process is quite simple. Follow the steps below to transfer your NCB to a new car.

1. Request for the NCB certificate from the insurance firm you are now insured with.

2. Next, get your old car sold.

3. Purchase a new car and get car insurance.

4. Submit the necessary documents to the new insurer. This will include the sale deed, KYC documents, NCB certificate, and RC of the new car.

5. Request for an NCB transfer to deal with the premium for the new policy.

Necessary documents for an NCB transfer

To complete your application, you need to attach the following documents listed below. Some of the NCB certificate transfer documents include:

• Insurance policy papers

• Invoice copy when you sold your old vehicle

• Copy of the insurance policy on the old vehicle.

Once the aforementioned paperwork is submitted, the no claim bonus gets transferred to the new vehicle. Additionally, based on your current NCB certificate, a discount of up to 50% will be applied to the insurance premium for your new car/ bike.

If you are wondering about transferring NCB certificate online, you need to inform your insurance provider about your existing NCB. Consequently, your new insurer will get in touch with your old insurer to help you transfer your NCB from one car to another.

Wrap up

The NCB certificate transfer process is quite simple. If you have acquired NCB you can apply for an NCB transfer. All you need to do is inform your insurance provider and ask them to transfer your NCB to your new car.