NCD - How it works

[ashzibit_69]

Would really appreciate if anyone can help clear my doubts. For my 2B insurance, I made no claims for 2 years (May 04 - June 06). I was told my NCD was then 20%. Then in June 06 I upgraded to 2A. So come June this year will my NCD be accumulated from my 2B or will it be start fresh?

[mikeang33]

Originally posted by DeathInc2004@January 17, 2007 08:18 pm

Would really appreciate if anyone can help clear my doubts. For my 2B insurance, I made no claims for 2 years (May 04 - June 06). I was told my NCD was then 20%. Then in June 06 I upgraded to 2A. So come June this year will my NCD be accumulated from my 2B or will it be start fresh?

it doesn't matter 2b or 2a or 2 bike ur ins cover ba.

i had 20% and additional 5% safety riding discount from mitsui

 

if ntuc they have some loyalty discount instead of traffic police safety riding discount.

 

so total is 25% max for bike that i know.

[honam24]

The insurance program discount works like this. As long as you did not change your insurance company, the NCD will follow your it under your name.

(Provided no claims has been made)

 

If let say you have reached to the max percent which is 20% NCD, then the following time when you renew your insurance, you will entitle another 5% discount which is the LOYALTY Discount.

 

I not sure whether for your case, you entitle 20% discount, but let say if you go down personally to NTUC main branch or sub, you entitle 5% more discount which is Direct discount.

 

So total you will have 30% discount

 

[honam24]

You riding Blade? Where you live?

 

[ashzibit_69]

Bro Honam, I live AMK.

 

Wah like that I dont get any NCD ah ... cos I ride 2 B for 2+ years. First year (Mitsui), 2nd year change to NTUC cos cheaper. Then now 2A its Mitsui again. Like that means my NCD is back to 0% rite?

[maniahk]

hey, ncd follows u n ur bike.. even if u change between mitsui n ntuc, juz tell dem ur previous insurer n vehicle no., den dey'll check for u n carry ur ncd over.. safe driver n loyalty is 2 different things.. loyalty discount is additional incentive from ntuc.. 5% safe driver for bikes only apply if u haf 20% ncd.. so basically, start of yr 1: 0%, start of yr2: 10%, start of yr3: 15%, start of yr4: 20+5%..

[beyond23]

eh..i'm wif mitsui..i let motordiam renew for mi usuali..

 

issit cheaper if ownself go renew @ insurance company??

if yes, h much more discount??

[yoshi]

Originally posted by beyond23@January 19, 2007 01:58 am

eh..i'm wif mitsui..i let motordiam renew for mi usuali..

 

issit cheaper if ownself go renew @ insurance company??

if yes, h much more discount??

2005 nov i try go mitsui company there renew my bike insurance but u can only do car insurance there

for bike u had to go to their agent .quite a few .i only remember loosi motor

[edwardthy]

I got a case like this.

 

-My 2B 1year 9months with NTUC, NCD=10%

-My 2A changed to Mitsui, will my NCD be carried over?

 

Thanks.

[paiseh]

yes, it can be carried over

 

BTW, i went straight to NTUC to renew my insurance dun have extra 5% direct discount leh.

 

if now go back ask will i get it?

[d0n]

Originally posted by paiseh@January 22, 2007 04:21 pm

yes, it can be carried over

 

BTW, i went straight to NTUC to renew my insurance dun have extra 5% direct discount leh.

 

if now go back ask will i get it?

maybe juz to add on

 

after my recent experience of changing bike, i learnt that the current practice is that NCD can be carried over from one insurance company to another (for my case frm AXA to Mitsui) provided that:

 

- when applying for insurance w/ Mitsui, i've already cancelled my insurance w/ AXA

 

what happens is that u continue to pay the full amt for the new insurance and by right, the insurer will subsequently refund/rebate back to u the part of NCD which u qualify.

 

for my case, when doing the new insurance w/ Mitsui for the new bike, i've yet to cancel the insurance w/ AXA for my old bike (for a period of time i was holding onto 2 bikes together). hence, right now im still in the process of waiting for the rebate/refund frm Mitsui. dont tink they will be that efficient to process the cheque for me though.

[paiseh]

just to add on also,

 

u get your NCD on the spot from company A if u bring your renewal letter with the NCD stated from company B to company A

 

else,u have to pay full amount and they will rebate u the NCD after.. for my case, after 3 months also dun haf. in the end i sold the bike and claim back the balance. at that point in time, still no NCD.

[edwardthy]

Originally posted by paiseh@January 22, 2007 05:58 pm

just to add on also,

 

u get your NCD on the spot from company A if u bring your renewal letter with the NCD stated from company B to company A

 

else,u have to pay full amount and they will rebate u the NCD after.. for my case, after 3 months also dun haf. in the end i sold the bike and claim back the balance. at that point in time, still no NCD.

Hey Paiseh thanks for clearing my doubts, anyway i got my rebate ($$) after 3 months thru the bike shop for cancelling my previous NTUC insurance when switching over to Mitsui. I got a cheque of $128 (cheque) so used it to offset the installments for current S4 bike.

[thepunkz]

juz wondering if i oreadi been 9mths wif mitsui, and juz finish probabtion, den i change my bike, tat means i dun enjoy the 10% izzit? will the insurance be cheaper juz because of the P-plate?

[ArsenalBoi]

the next cycle of no claims discount will be computed only when u receive the renewal letter from the insurance company.

 

1st year 10%

 

2nd year 15%

 

3rd year 20%

 

max is 20% usually extra 5 to 10% depends on goodwill (for ntuc extra 5% if u go directly to them)

[thepunkz]

hmm, so tat means no letter = no discount right?

wat if i receive the letter but if i renew thru motorshop? is the discount still applicable?

[yoshi]

Originally posted by thepunkz@January 24, 2007 03:17 pm

hmm, so tat means no letter = no discount right?

wat if i receive the letter but if i renew thru motorshop? is the discount still applicable?

no letter nvm just tell them the license plate and the insurance company.

the most u pay full premium first then after checking confirm ur ncd then they refund u the discount for the by cheque.

[honam24]

Originally posted by paiseh@January 22, 2007 04:21 pm

yes, it can be carried over

 

BTW, i went straight to NTUC to renew my insurance dun have extra 5% direct discount leh.

 

if now go back ask will i get it?

I believe they will , cos i personally ask from them.

[honam24]

Originally posted by DeathInc2004@January 19, 2007 12:04 am

Bro Honam, I live AMK.

 

Wah like that I dont get any NCD ah ... cos I ride 2 B for 2+ years. First year (Mitsui), 2nd year change to NTUC cos cheaper. Then now 2A its Mitsui again. Like that means my NCD is back to 0% rite?

Mm.. for confirm ans u can check with ur moto tiam, but i believe it still have, juz tat u dun entitle those loyality discount all those..