What is a no-claim bonus?
You can think of No Claim Bonus (NCB) as a reward for not making a claim against your policy. This reward is usually a percentage discount on the premium amount of your policy. However, in some cases, it can also be an increase in the coverage amount of your plan. NCB works like this – in case you do not make a claim against your policy in the current coverage period, then you will be entitled to receive the NCB benefit when you renew your plan.