Page 181 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

or others, the NCB entitlement can be transferred to
the legal heir.

The percentage of NCB earned on a vehicle owned by
an institution during the period when it was allotted to
and exclusively operated by an employee can be passed
on to the employee if the ownership of the vehicle is
transferred in the name of employee.

This will however require submission of a suitable letter
from the employer confirming that prior to transfer of
ownership of the vehicle to the employer confirming
that prior to transfer of ownership of the vehicle to the
employee, it was allotted to and exclusively operated by
the employee during the period in which the NCB was
earned.

In the event of an insured transferring his insurance
from one insurer to another, the transferee insurer may
allow the same rate of NCB which the insured would
have received from the previous insurer. Evidence of
entitlement to NCB is required for the purpose.

In practice a few insurers are allowing lesser NCB than
entitled on transfer e g A 3 year old Private car Santro
with 45% NCB entitlement is allowed only 25% NCB
by the transferee insurer.

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