What is No Claim bonus (NCB)?
No Claim bonus (NCB) is the benefit given to an insured for not making any claims during the previous policy period. It is given only on Own Damage (OD) packages and can range from 20% to 50%. NCB is given to the individual who purchases the insurance and not to the car that is insured. Therefore, if the car is sold to or transferred to a new owner, the insurance policy can be transferred but not the NCB.
Note: If a claim is lodged during the policy period, No Claim bonus (NCB) is lost and cannot be claimed in the subsequent policy period.
