Can no-claim bonus (NCB) be transferred with a motor policy?
Yes, when an owner sells his car, he can transfer the motor insurance to the buyer/new owner. If there is any accumulated NCB, that can also be transferred with the policy. The new owner will not be required to pay any premium for the policy till renewal.
Is it necessary to transfer NCB with motor plan?
No, it need not necessarily be transferred. The car seller can take a certificate for NCB at the time of selling the car and transferring the motor cover. If a car is sold and the owner has had a no-claim history, he can utilise it at the time of buying a cover for his new car, both in India and abroad.
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