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Ncd Rebate


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#11
ain206

Posted 10 September 2009 - 08:46 PM

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QUOTE (yishin @ Sep 9 2009, 08:36 PM) <{POST_SNAPBACK}>
Just want to final comfirm.
Is it correct to say that I can have NCD on both of my car e.g. 1 car 55% & the other 25%? And as years go by, both also 55% if no claim at all?



yes....... smile_thumbup.gif

#12
66cc

Posted 22 February 2013 - 04:33 PM

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QUOTE (ain206 @ Sep 10 2009, 08:46 PM) <{POST_SNAPBACK}>
yes....... smile_thumbup.gif


Hi all sifu,
I have a question hope to get some advice.

I have just renewed my policy on Jan 2013 with current NCD of 35%. I'm planning to sell this car off hopefully within 2 months time and not decide to buy a new car yet at this moment.

Hence, may I know how do I transfer my NCD so that it can carry on for the next time (maybe next 20 months) when I going to buy a new car?

Since am going to sell to 2nd hand dealer; what should I do in order to keep my NCD for future use?

Your advise is very much appreciated.

Thanks in advance.


#13
cute_boboi

Posted 22 February 2013 - 07:04 PM

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QUOTE (66cc @ Feb 22 2013, 04:33 PM) <{POST_SNAPBACK}>
Hi all sifu,
I have a question hope to get some advice.

I have just renewed my policy on Jan 2013 with current NCD of 35%. I'm planning to sell this car off hopefully within 2 months time and not decide to buy a new car yet at this moment.

Hence, may I know how do I transfer my NCD so that it can carry on for the next time (maybe next 20 months) when I going to buy a new car?

Since am going to sell to 2nd hand dealer; what should I do in order to keep my NCD for future use?

Your advise is very much appreciated.

Thanks in advance.


When you sell in Apr/May 2013, once sold, remember to inform your insurers that you sold your car, and would like to cancel your policy. Hence, you can get back 50-60% of the premium paid earlier for full year coverage (pro-rated), assuming you pay for full year insurance. You may need to goto counter.

At the same time, ask them to issue a NCD Transfer Letter. This may take some time (few days) and they may snail-mail the letter to you. Your premium refund will also bank-in/snail mail cheque to you.
Every year that you do not use it to insure your car, it will drop 1 level.
2014 drop to 25%
2015 drop to 0%

Therefore, when you repurchase a car under your name in 20 months later, your NCD maybe 0% already.

"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous

#14
66cc

Posted 23 February 2013 - 02:42 PM

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QUOTE (cute_boboi @ Feb 22 2013, 07:04 PM) <{POST_SNAPBACK}>
When you sell in Apr/May 2013, once sold, remember to inform your insurers that you sold your car, and would like to cancel your policy. Hence, you can get back 50-60% of the premium paid earlier for full year coverage (pro-rated), assuming you pay for full year insurance. You may need to goto counter.

At the same time, ask them to issue a NCD Transfer Letter. This may take some time (few days) and they may snail-mail the letter to you. Your premium refund will also bank-in/snail mail cheque to you.
Every year that you do not use it to insure your car, it will drop 1 level.
2014 drop to 25%
2015 drop to 0%

Therefore, when you repurchase a car under your name in 20 months later, your NCD maybe 0% already.

Hi,
Thanks very much for the answer.
The reason I'm not buying a new car because I have a second car which insure under my sis's name. I paid for this premium which having 0% NCD (my sis bought a new car).
Hence, can I transfer my NCD to this second car?
Which I think require to do JPJ ownership transfer of the car first before NCD transfer, is that correct?

Your advise is much appreciated.

Thanks again


#15
vr2turbo

Posted 23 February 2013 - 03:40 PM

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QUOTE (66cc @ Feb 23 2013, 02:42 PM) <{POST_SNAPBACK}>
Hi,
Thanks very much for the answer.
The reason I'm not buying a new car because I have a second car which insure under my sis's name. I paid for this premium which having 0% NCD (my sis bought a new car).
Hence, can I transfer my NCD to this second car?
Which I think require to do JPJ ownership transfer of the car first before NCD transfer, is that correct?

Your advise is much appreciated.

Thanks again

Since the car under your sis name is 0% NCD, no difference transferring to your sis new car, but you can transfer your old car NCD to your second car and yes ownership have to be transferred to your name before this can be done...

#16
cute_boboi

Posted 26 February 2013 - 05:49 PM

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QUOTE (66cc @ Feb 23 2013, 02:42 PM) <{POST_SNAPBACK}>
Hi,
Thanks very much for the answer.
The reason I'm not buying a new car because I have a second car which insure under my sis's name. I paid for this premium which having 0% NCD (my sis bought a new car).
Hence, can I transfer my NCD to this second car?
Which I think require to do JPJ ownership transfer of the car first before NCD transfer, is that correct?

Your advise is much appreciated.

Thanks again


1st car = you are selling.
2nd car = your sis name and her insurance. Officially, nothing related to you, even if you pay full downpayment and monthly installment. Coz JPJ reg-card is under her name. Insurance also under her name. If goto court, you will lose, even if you show you make all the payment. The car officially belongs to your sis.

Therefore, you cannot transfer your NCD to 2nd car, unless you do car ownership transfer for the 2nd car, from your sis name to your name.

"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous

#17
rahyuana

Posted 22 May 2013 - 11:45 AM

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QUOTE (ain206 @ Apr 28 2009, 05:30 PM) <{POST_SNAPBACK}>
hi,

NCD means No Claim Discount.

You are entitle to a discount for the following year if you had nor intimate any claim for the current policy. it will be in the increasing % subject to the maximum depending on the class of vehicle.

When purchasing a new car you have the option to transfer the NCD from your old car to the new one. Hence you are paying less premium. NCD for the old car will be back to 0% in renewal the following year.

But if you sold your old car the tranfer of NCD can be made prior to the new car registration. Make sure you cancel the policy to avoid the buyer/car dealer taking advantage in using your name.

That is basically how it works.

cheers



If you are paying full insurance premium for your new car.... transfer the NCD from yr old and the insurance co will refund you on he over paid premium.


Got it. Thanks