MANAGEMENT

Detailed explanation-1: -No Claim Bonus or NCB is a reward given by an insurance company to an insured for not raising any claim requests during a policy year. The NCB is a discount ranging between 20%-50% and is given to the insured while renewing a policy. The NCB discount is offered on the premium amount during renewal.

Detailed explanation-2: -No claims bonus, no claims discount and no claim discounts are all the same thing. Some insurance companies call it a bonus, but it actually acts as a discount on your insurance premium, which is why we call it a no claim discount.

Detailed explanation-3: -What is No Claim Bonus. Definition: No-claim bonus (NCB) is a discount in premium offered by insurance companies if a vehicle owner has not made a single claim during the term of the motor insurance policy. Description: The no-claim bonus is a reward to the vehicle owner for prudent use of the vehicle.

Detailed explanation-4: -During the online car insurance renewal process, the applicable NCB will be mentioned on the webpage. The NCB calculation will also be mentioned in your policy document post-policy purchase. In case of offline renewal, ensure to ask the agent or the executive about the applicable NCB before policy renewal.