What Is NCD and Why It Matters
No Claim Discount is offered to those who renew yearly without filing any claims. It’s an easy way to save money just by keeping a clean driving record. Many car owners worry they’ll lose their NCD when renewing under a new company. The truth is, as long as you have valid records and complete documents, your NCD can be transferred without issue.
How to Renew With a New Company Without Losing NCD
1. Check your NCD record – Make sure your previous policy clearly shows your current NCD rate.
2. Request an NCD confirmation letter – Your previous insurer can issue a letter to verify your discount for the new company.
3. Compare new policies – Review the protection, premium rates, and extra benefits before choosing one.
4. Prepare the required documents – You’ll need your car card, IC, old policy, and the NCD confirmation letter.
5. Receive your new policy – Once approved, your coverage continues smoothly with your NCD intact.
Tip: Don’t wait until your old policy expires. Renew early to make sure there’s no gap in coverage.
Conclusion
Renewing under a new company will not compromise your NCD. You can just notify the new company of your NCD % and it will appear on your new quotation when it’s time to renew. Always check your NCD status before renewal to ensure maximum savings.
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