Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
A no claim bonus is a discount on renewal premium or an increase in sum insured that an insurer offers when a policyholder does not make any claims during a policy year.
A reward (lower premium or higher cover) for not filing any claims in a policy year.
Common in motor and health insurance; in motor insurance NCB is now portable across insurers and can reach up to 50% after several consecutive claim-free years.
A car owner with five claim-free years gets up to 50% no claim bonus discount on their renewal premium.
A reward (lower premium or higher cover) for not filing any claims in a policy year.
No Claim Bonus helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.