What is No claim bonus (NCB)
No claim bonus is the discount on the future premium payments, which the insurance
holder receives from the company for a claims-free year.
In case of car insurance policy,
you can enjoy getting discount in your next premiums...
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What is No claim bonus (NCB)
No claim bonus is the discount on the future premium payments, which the insurance
holder receives from the company for a claims-free year.
In case of car insurance policy,
you can enjoy getting discount in your next premiums as per the terms and conditions
mentioned in the insurance plan you opted for.
The concept is simple, car insurance generally provides cover against damages to the
insured vehicle and third party claims.
No claim benefit in motor insurance is applicable as long as insurance claim is not made.
After the claim is made, the benefit of no-claim benefits is back to null.
This explains that
the policyholder will have to make higher payments for premiums because he/she won’t be
eligible for policy premium discounts under no claim bonus scheme.
Though, as per the latest offers made by insurance companies in this field, a policyholder
can still enjoy saving 20 per cent of no claim discount even after claiming the insurance
amount.
To ava
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