What is NCB and in what way does it benefit me?
The full form of NCB is No Claim Bonus. It is presented to the owner of the vehicle, who is also the policyholder. In cases when not even a single claim is made during the entire term of the policy, you are entitled to a discount on your premiums. You can avail up to 50% discount on your premiums if you consecutively do not make any claim every year. In case you do make a car insurance claim, NCB does not come into action. You can transfer NCB to your new vehicle if the vehicle is of the same class.
- What would be the consequences if I forget to renew my commercial auto insurance on time?
- What is the basis of claim settlement?
- Does your health insurance plan for family cover everything from accident, surgery, normal hospitalization?
- I have lost my commercial vehicle insurance policy. Is it possible to acquire a duplicate one?
- What does the policy cover?