What is NCB in bike insurance and how to make the most out of it?

 


An NCB or a No-claim bonus is a discount an insurance company offers on your premium when you do not claim any insurance amount during the insured year. This is an immensely useful feature for a comprehensive two wheeler insurance holder as an NCB can bring the premium payment down to almost half its original value.                  

Now that you know how not making an insurance claim can also be helpful for you, let’s look at how you can make the most out of it -

1)    Stay consistent - The No-claim bonus increases with every year that passes by without you having to make an insurance claim. After the first year, you can get a discount of 20% when you renew your insurance policy for bike. This discount increases upto 50% by the end of fifth year and stays stagnant at this level from there on.

2)    Get the NCB cover add-on - It would be saddening to lose the accumulated NCB if you happen to get into an accident after a clean first year. Hence, you can avail the No-claim bonus protector cover and save yourself from losing the gained discount at a marginal increase in your premium.


Original Content :- What is NCB in bike insurance and how to make the most out of it?




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