NCD Qs

[kailong]

hi guys, got a Qs...

 

I got 2 bike under my name.

 

Bike A got NCD, bike B don't have.

 

Is it possible to transfer the NCD from A to B???

 

But A and B is 2 different insurance company...

[prego08220]

Is bike B insured with any insurance yet? If not i think its possible.. NCB can be use at different insurance agency..

[kailong]

Ya, both bike got insurance.

 

But bike A is class 2B, bike B is class 2...

 

So i use NCD on bike A cause buy it first then i buy the class 2 bike...

 

So now i want to swap the NCD from A to B...

 

 

Is bike B insured with any insurance yet? If not i think its possible.. NCB can be use at different insurance agency..

[Reese]

NCB can only be used on either 1 & not both?

[BlackDawn]

I don't think you can transfer unless bike A is sold. call your insurance company to check.

[loufu]

i did a transfer juz a few mths back.. frm my policy under my dad's name to my own policy, 2B -> 2A(NCD can saves alot more on a 2A coz my 2B only $120+/yr:cheeky: ) ...

 

can b done but nid a trip down to the ins ctr... mine was same ins company... urs is diff co. so not so sure but if i didnt remember wrongly, the NCD can b transferred even thou diff ins co... better call to ur ins co. to check....

[kailong]

Tks dude for the info...

 

 

 

i did a transfer juz a few mths back.. frm my policy under my dad's name to my own policy, 2B -> 2A(NCD can saves alot more on a 2A coz my 2B only $120+/yr:cheeky: ) ...

 

can b done but nid a trip down to the ins ctr... mine was same ins company... urs is diff co. so not so sure but if i didnt remember wrongly, the NCD can b transferred even thou diff ins co... better call to ur ins co. to check....

[YEN96]

hi guys, got a Qs...

 

I got 2 bike under my name.

 

Bike A got NCD, bike B don't have.

 

Is it possible to transfer the NCD from A to B???

 

But A and B is 2 different insurance company...

 

who got answer to this or did b4 ???

[leong77]

If u have 2 different bikes, u should have 2 separate policy and NCBs. Now, imagine u have bike A with 20% NCBs and bike B w NIL NCBs.

 

U wish to transfer the NCBs 20% from bike A to bike B (maybe Bike B policy is much more expensive), u need to WITHDRAW the NCBs from bike A policy by paying the insurer back the NCBs and get it transferred to Bike B.

 

This can be done even both policies are of different insurers.

 

Cheers

[YEN96]

If u have 2 different bikes, u should have 2 separate policy and NCBs. Now, imagine u have bike A with 20% NCBs and bike B w NIL NCBs.

 

U wish to transfer the NCBs 20% from bike A to bike B (maybe Bike B policy is much more expensive), u need to WITHDRAW the NCBs from bike A policy by paying the insurer back the NCBs and get it transferred to Bike B.

 

This can be done even both policies are of different insurers.

 

Cheers

 

superb answer !

[loufu]

If u have 2 different bikes, u should have 2 separate policy and NCBs. Now, imagine u have bike A with 20% NCBs and bike B w NIL NCBs.

 

i tot is NCD?

 

U wish to transfer the NCBs 20% from bike A to bike B (maybe Bike B policy is much more expensive), u need to WITHDRAW the NCBs from bike A policy by paying the insurer back the NCBs and get it transferred to Bike B.

 

This can be done even both policies are of different insurers.

 

Cheers

 

and dun forget u can get the back payment for the DISCOUNT u get after transfer the NCD to bike B policy..

[Reese]

so let's say if i have 2 bikes... 1st bike has 20% NCB while 2nd bike has nothing. both bikes are of different insurers. i sell off 1st bike, does my NCB automatically gets transferred to the 2nd bike? is this how the NCB works or does it start from 0 again for the 2nd bike?

[YEN96]

so let's say if i have 2 bikes... 1st bike has 20% NCB while 2nd bike has nothing. both bikes are of different insurers. i sell off 1st bike, does my NCB automatically gets transferred to the 2nd bike? is this how the NCB works or does it start from 0 again for the 2nd bike?

 

YES ! Can be done. But of cos you have got to "bang table" to get them to do the work....haha no la..inform them lor. !

 

no sound = nothing will work

[leong77]

bro, the transfer is not auto. U need to inform your current bike insurer about your previous bike's NCBs. Just call them and tell me u wish to transfer NCBs from your previous bike under XXX insurer.

[YEN96]

i tot is NCD?

 

 

 

and dun forget u can get the back payment for the DISCOUNT u get after transfer the NCD to bike B policy..

 

How long will it take to refund the "NCB" from the insurer ?

 

bro, the transfer is not auto. U need to inform your current bike insurer about your previous bike's NCBs. Just call them and tell me u wish to transfer NCBs from your previous bike under XXX insurer.

 

Lets say if i already have a policy running ...eg from Oct 2007 - 0Ct 2008

If i transfer the NCB in DEC 2007...means i get pro-rated refund ??

How long it take the insurance company to refund me the money ?

[panclanrider]

i tot is NCD?

 

Both are the same thing...

 

NCB = No Claim Bonus

 

NCD = No Claim Discount

 

 

How long will it take to refund the "NCB" from the insurer ?

 

If you make a trip to their office, you can get back on the spot.

 

Lets say if i already have a policy running ...eg from Oct 2007 - 0Ct 2008

If i transfer the NCB in DEC 2007...means i get pro-rated refund ?

 

You're right. Pro-rated amount of $$$...

[YEN96]

Both are the same thing...

 

If you make a trip to their office, you can get back on the spot.

 

 

 

You're right. Pro-rated amount of $$$...

 

Hopefully ! ..reallie arh , can get back on the spot if i go down ???

[panclanrider]

Hopefully ! ..reallie arh , can get back on the spot if i go down ???

 

If you make a trip to their office, you can get back on the spot.

 

 

:sian:

[leong77]

just to clear some doubts.

 

U should be able to get on the spot or they will send a cheque to you. This is up to the insurers.

 

As for the refund, you should be able to get the full NCBs IF you have paid them full when you withdraw the NCBs. Ie. Veh A has 20% from co A (01/07 to 01/08). You wish to withdraw the full 20% NCBs and trf to Veh B which you have bought in Nov 07. After you have paid the full 20% NCBs to Co A, you should be able to trf the NCBs to 2nd vehicle from the inception date.

 

Cheers

[loufu]

just to clear some doubts.

 

U should be able to get on the spot or they will send a cheque to you. This is up to the insurers.

 

As for the refund, you should be able to get the full NCBs IF you have paid them full when you withdraw the NCBs. Ie. Veh A has 20% from co A (01/07 to 01/08). You wish to withdraw the full 20% NCBs and trf to Veh B which you have bought in Nov 07. After you have paid the full 20% NCBs to Co A, you should be able to trf the NCBs to 2nd vehicle from the inception date.

 

Cheers

 

yupz... u will nid to pay back the full 20% top up to ur policy A.... then u get the full 20% rebate for ur policy B...

 

PS: NCD somehow sounds better than NCB.. personal preference thou..

 

 

How long will it take to refund the "NCB" from the insurer ?

 

forget liao.. i juz wait for them to send me cheque lor...

[YEN96]

just to clear some doubts.

 

U should be able to get on the spot or they will send a cheque to you. This is up to the insurers.

 

As for the refund, you should be able to get the full NCBs IF you have paid them full when you withdraw the NCBs. Ie. Veh A has 20% from co A (01/07 to 01/08). You wish to withdraw the full 20% NCBs and trf to Veh B which you have bought in Nov 07. After you have paid the full 20% NCBs to Co A, you should be able to trf the NCBs to 2nd vehicle from the inception date.

 

Cheers

 

Bro...is back dating allowed????

I just went down to mitsui, withdraw NCD pro-rated effect end october, meaning i top up abt $11 to them for oct-dec. my policy end december.

So upon transfer to another policy, under another insurance company, which my policy start october. I can get refund based on october which is 20% for the full period ?

[YEN96]

just to clear some doubts.

 

U should be able to get on the spot or they will send a cheque to you. This is up to the insurers.

 

As for the refund, you should be able to get the full NCBs IF you have paid them full when you withdraw the NCBs. Ie. Veh A has 20% from co A (01/07 to 01/08). You wish to withdraw the full 20% NCBs and trf to Veh B which you have bought in Nov 07. After you have paid the full 20% NCBs to Co A, you should be able to trf the NCBs to 2nd vehicle from the inception date.

 

Cheers

 

need to pay back full 20% NCD or pro-rated ???

i paid $11 only cos i withdraw effect october..policy left 2 months.

means i paid the $11 for the 2 months NCB

cos my other policy i want to effect the start date, oso in october !

 

means back date can arh ??!??!?!?1

[YEN96]

upZZZZZZ>.......who who who know ??

[YEN96]

i apply for transfer of NCB and did all the administrative paperwork 12 nov 2007

 

till now still waiting for refund!!!!!!!

[YEN96]

If u have 2 different bikes, u should have 2 separate policy and NCBs. Now, imagine u have bike A with 20% NCBs and bike B w NIL NCBs.

 

U wish to transfer the NCBs 20% from bike A to bike B (maybe Bike B policy is much more expensive), u need to WITHDRAW the NCBs from bike A policy by paying the insurer back the NCBs and get it transferred to Bike B.

 

This can be done even both policies are of different insurers.

 

Cheers

 

withdrawal take donkey years to get refund ! i am still waiting ...1months liaoz

 

best option is to lapse the premium period then do transfer !

 

insurance companies :angry: