You can utilize the no claim bonus (NCB) procured on the extensive protection strategy of your current or old vehicle to diminish the top notch payable when you purchase far reaching protection for another vehicle. All it requires is some arranging and it's justified, despite any trouble since, supposing that you have a 50 percent NCB you can get that much markdown on the colossal Own Damage (OD) protection premium (Saving of around Rs 9, 700 on Rs 7.75 lakh of vehicle's IDV (safeguarded proclaimed worth)) normally payable on purchasing another vehicle. There are two situations in which you can utilize it.
1. On the off chance that you have procured NCB on your old vehicle which you sell and afterward purchase another vehicle: In such a circumstance you can hold the NCB on the thorough engine protection strategy of your old vehicle even after you sell your vehicle and move the protection strategy to the vehicle purchaser. You would then be able to utilize the held NCB (a declaration is given) when purchasing another thorough engine protection strategy for your new vehicle and take a tremendous rebate on the top notch payable.
2. On the off chance that you have acquired No Claim Bonus (NCB) on a current vehicle and need to purchase another vehicle yet hold the old/existing vehicle: In such a circumstance, you can move/offer your old vehicle to a relative who might then be the new proprietor of the old vehicle. You would then be able to hold the NCB and use it to get a markdown on the protection premium of the new vehicle that you purchase. You cannot utilize the NCB acquired on the old vehicle to get a markdown on the excellent paid for another vehicle strategy as long as you own the old vehicle.
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