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Question On Ncd


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#1
SmallBug

Posted 21 March 2012 - 08:27 AM

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Just say, I sell off my car which is already enjoying the maximum 55% NCD and I don't buy a new car until a few years later. Will the NCD rate decrease from the time I sell off my old car, and I subsequently can't enjoy 55% on the new car? What is the rate of decrease?

Thanks.
!

#2
MASsenger

Posted 21 March 2012 - 09:03 AM

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QUOTE (SmallBug @ Mar 21 2012, 08:27 AM) <{POST_SNAPBACK}>
Just say, I sell off my car which is already enjoying the maximum 55% NCD and I don't buy a new car until a few years later. Will the NCD rate decrease from the time I sell off my old car, and I subsequently can't enjoy 55% on the new car? What is the rate of decrease?

Thanks.

55% is max NCD. it wil not get any lower no matter how long. Correct me, but I think you cannot let the NCD lapse by more than one year. Meaning if you sell your car,you should buy the next car within one year of the expiry of present inc.

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#3
fkmfkm

Posted 21 March 2012 - 12:04 PM

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QUOTE (SmallBug @ Mar 21 2012, 08:27 AM) <{POST_SNAPBACK}>
Just say, I sell off my car which is already enjoying the maximum 55% NCD and I don't buy a new car until a few years later. Will the NCD rate decrease from the time I sell off my old car, and I subsequently can't enjoy 55% on the new car? What is the rate of decrease?

Thanks.


each year lapse u drop one level...



#4
vr2turbo

Posted 21 March 2012 - 01:57 PM

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QUOTE (fkmfkm @ Mar 21 2012, 12:04 PM) <{POST_SNAPBACK}>
each year lapse u drop one level...

Are you sure? I think must buy car within a year as mentioned by bro. Massenger...... smile_tongue.gif

#5
SmallBug

Posted 21 March 2012 - 07:49 PM

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So that means, if I sell my car in April this year.. then buy a new car NEXT YEAR July.. I'd get 45% only? Must buy within a year to maintain at 55%?

!

#6
acheong7

Posted 21 March 2012 - 10:24 PM

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QUOTE (SmallBug @ Mar 21 2012, 08:27 AM) <{POST_SNAPBACK}>
Just say, I sell off my car which is already enjoying the maximum 55% NCD and I don't buy a new car until a few years later. Will the NCD rate decrease from the time I sell off my old car, and I subsequently can't enjoy 55% on the new car? What is the rate of decrease?

Thanks.


confirm your NCB will dry up and expire
happened to me ... total burn
no idea bout the rate of decrease but i assume it's the reverse of how we accumulate the 55%
a quick check with your agent should clear any doubts

#7
MASsenger

Posted 22 March 2012 - 08:55 AM

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QUOTE (fkmfkm @ Mar 21 2012, 12:04 PM) <{POST_SNAPBACK}>
each year lapse u drop one level...

This actually makes sense,but do you think Inc Co's are interested in making sense! They only want to make max profit. Check it out with agents.

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#8
fkmfkm

Posted 22 March 2012 - 09:33 AM

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QUOTE (SmallBug @ Mar 21 2012, 07:49 PM) <{POST_SNAPBACK}>
So that means, if I sell my car in April this year.. then buy a new car NEXT YEAR July.. I'd get 45% only? Must buy within a year to maintain at 55%?



dont pass 1 year you will still get 55%.

#9
vr2turbo

Posted 22 March 2012 - 11:16 AM

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QUOTE (fkmfkm @ Mar 22 2012, 09:33 AM) <{POST_SNAPBACK}>
dont pass 1 year you will still get 55%.

So what happens after 1 year? 45% or 0%?
Any members knows for sure? smile_question.gif

#10
fkmfkm

Posted 22 March 2012 - 12:28 PM

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QUOTE (vr2turbo @ Mar 22 2012, 11:16 AM) <{POST_SNAPBACK}>
So what happens after 1 year? 45% or 0%?
Any members knows for sure? smile_question.gif



<= remain
1-2 year -1
2-3 year -2
3-4 year -3

and so on....