- By Divanshi Sharma
- Wed, 18 Oct 2023 08:00 PM (IST)
- Source:JND
When you get a new car, buying good insurance for the car is an integral part of the purchasing process. There are several benefits of buying insurance considering the regular hike in prices in the automotive industry. However, insurance plans have also become extremely expensive and can cost you a good amount. If you've had insurance on your previous car and didn’t make any claims on that, you can use that to lower the cost of your new car's insurance. Follow these steps to get ‘No-Claim Bonus’ while getting insurance for your new car.
Get No-Claim Bonus Certificate
To get your No-Claim Bonus certificate, you'll have to reach out to your previous car insurance company. If you're getting a new insurance policy for your car from a different company, make sure to get a No-Claim Bonus transfer certificate from your previous insurance provider.
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Collect Required Documents
To ask for a No-Claim Bonus (NCB) claim, you'll need to have the required documents. These documents include the insurance records of your previous car, a copy of the NCB certificate of your old car and required details about your new vehicle. Make sure that the document of your new car clearly states the manufacturing date and its model.
Inform New Insurance Provider
When getting a new insurance policy, make sure to inform the new insurance provider about your No-Claim Bonus (NCB) eligibility. Make sure to do this while buying the policy and before making any payments. The insurance company will then use the NCB certificate and your car details to calculate the NCB discount. After applying this discount, the overall cost of the insurance policy is reduced.
Pay Remaining Amount
After the NCB discount is applied, go ahead and pay the remaining premium amount. To ensure continuous insurance coverage, it's essential to make timely payments and avoid skipping payments.