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In the case of buying a used car, what happens if the seller refuses to share the claim history?
This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.
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This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.
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How to Check Car Insurance Claim History via Insurer?
For example, when buying a second-hand car, if the seller tells you no claim has been made in the last four years, but the NCB reads 0% in the last renewal, it should raise some concerns. Ideally, after four consecutive claim-free years, the applicable NCB should be 45%. Hence, it is ideal to get a verification from the car insurance company.
How Does No Claim Bonus (NCB) Affect My Premium Estimate?
● 1 year claim-free: 20% NCB ● 2 years claim-free: 25% NCB ● 3 years claim-free: 35% NCB ● 4 years claim-free: 45% NCB ● 5 years or more claim-free: 50% NCB (maximum, capped)