If you have been driving clean for 3-5 years with no at-fault claims, you have likely built up a "No Claim Bonus (NCB)" discount of up to 50% on your insurance premium. That is real money β potentially thousands of baht every year.
But when you sell your old petrol car and switch to a brand-new electric vehicle (EV), a sinking feeling hits: "Wait β is all that accumulated discount just... gone? Do I have to start from zero and pay full price?"
This article from PrakanEV has the answer β and it could save you 10,000 - 15,000 THB on your first-year EV insurance premium.
β Yes β absolutely! (With conditions β keep reading.)
You can transfer your No Claim Bonus discount from your old car (petrol or EV) to reduce the premium on your new car by up to 50%. The catch: you must file the transfer within 30-60 days of selling your old car or letting your old policy expire.
Jump To
- 1. What Is a No Claim Bonus (NCB)? How Much Can You Save?
- 2. Transfer Conditions & Checklist
- 3. Can You Transfer Across Insurance Companies?
- 4. Required Documents & Step-by-Step Process
- Frequently Asked Questions
1. What Is a No Claim Bonus? How Much Money Are We Talking? π°
NCB (No Claim Bonus) is the "reward" insurers give you for driving claim-free (or only claiming when you are not at fault) year after year. The discount compounds with each consecutive renewal β up to a maximum of 50%.
The NCB Ladder:
- Year 1 β clean record β Year 2 renewal gets 20% off
- Year 2 β clean record β Year 3 renewal gets 30% off
- Year 3 β clean record β Year 4 renewal gets 40% off
- Year 4+ β clean record β Each renewal gets 50% off (maximum)
π‘ Real-money example: Your new EV (say, a BYD Seal) has a Class 1 premium of 30,000 THB. If you bring a 50% NCB from your old car, your first-year premium drops to just 15,000 THB. On a brand-new car. That is a discount most first-time EV buyers never see.
2. The Three Conditions You Must Meet π
Not everyone can transfer. Check yourself against these three requirements:
- The name must match exactly: The insured name on the old policy and the registered owner/insured name on the new car must be identical. Same first name, same last name. You cannot transfer your NCB to your spouse, your child, or your business partner β even if they live at the same address.
- The old car must be sold or the old policy must have lapsed:
- If you sold the old car: You need proof of the ownership transfer (the sale contract to a dealer counts).
- If you still own the old car: You must wait for the old policy to expire without renewing it. Only then can you extract the NCB and attach it to the new car. (This means the old car will be uninsured, or you will start a fresh policy on it at zero NCB.)
- Mind the grace period: You must file the NCB transfer within the window specified by the insurer β typically 30-60 days after selling the old car or after the old policy expires. Miss this window and your accumulated discount resets to zero. Years of clean driving, gone.
3. Can You Transfer NCB to a Different Insurance Company? π’
Yes β you are not locked into your old insurer. You can take your NCB to any company you choose.
| Transfer Scenario | Difficulty | Documents Required |
|---|---|---|
| Same insurer β Same insurer | Very easy β their system already sees your history | Just your name and old plate number |
| Old insurer β New insurer (different company) | Requires documentation | Renewal notice or old policy showing your NCB level |
*Pro tip: When transferring to a new insurer, the receiving company may grant you one step below your actual NCB level (e.g., if you have 50%, they may honor 40%). This is not a rule β it is a negotiation. Have a broker like PrakanEV compare offers across multiple companies to find the one that will match your full discount.
4. Documents You Need & How to File the Transfer π
If you meet all the conditions, gather these documents:
- Copy of your new car's registration book
- Sale contract for the old car or ownership transfer document
- Old policy schedule or renewal notice (must show your NCB percentage)
- Copy of your ID card
Process: Tell the insurance agent: "I want to transfer my No Claim Bonus from my previous car." They will recalculate your premium on the spot with the discount applied. Or, if you want someone to handle the comparison for you, check your premium with PrakanEV and we will find the insurer that honors your full NCB.
Bottom Line: Do Not Leave 10,000+ THB on the Table
Switching from a petrol car to an EV already involves a higher purchase price. But if you bring your "No Claim Bonus" with you, that accumulated discount takes a serious bite out of your first-year insurance premium β potentially cutting it in half. This is free money you earned by driving safely. Claim it.
Not sure if your old NCB qualifies? Or want to see which insurer will give you the best rate with your transferred discount? Send your old policy to PrakanEV β we will check it for free and find the most NCB-friendly insurer for your new EV.
Before you decide, compare EV insurance from several insurers on our homepage β you will see premiums and coverage side by side.