How NCB will be computed at the time of renewal?
As you may know, NCB is a discount provided to the policyholder for maintaining a claim-free record against their bike insurance policy. This discount starts at 20% for the first claim-free year and keeps on increasing for every subsequent claim-free year until it reaches its maximum cap of 50%. The below table should help you calculate the NCB applicable on your two-wheeler insurance policy.
No Claim Bonus Rate |
|
After one claim-free year |
20% discount on the premium amount |
After 2 consecutive claim-free years |
25% discount on the premium amount |
After 3 consecutive claim-free years |
35% discount on the premium amount |
After 4 consecutive claim-free years |
45% discount on the premium amount |
After 4 consecutive claim-free years |
50% discount on the premium amount |
