April 17, 2024

Scieron

Health know-how

How To Check NCB In Bike Insurance?

What is NCB in Bike Insurance? Can No Claim Bonus get Canceled?

The “No Claim Bonus” (NCB) is a concession on the “Own Damage” section of a bike insurance policy that the insurance company offers to customers who have not filed a claim on their policy in the preceding years. This concession is only available to customers who have maintained a claim-free record. *

Where can I look up my NCB amount?

  • Your insurance for a two-wheeler or four-wheeler copy will have a section devoted to calculating your premium where you can find NCB. You will be eligible for a higher NCB after each year that passes without a claim, and after that, you will be moved up to the next higher slab. Your policy copy will include a mention of the NCB expressed as a percentage. *

How Can You Determine Your NCB in Insurance?

  • When renewing your insurance for a two-wheeler or four-wheeler, you may be eligible for a concession on your premium known as the “No Claim Bonus,” abbreviated “NCB.” It is a concession granted by an insurance company to an insured person if the insured person has not filed any claims during the policy year. *

What does NCB stand for in terms of bike insurance?

  • No-Claim Bonus, often known as NCBs, are given to policyholders of a two-wheeler insurance coverage when they renew their policies, provided they have yet to file any claims within the period covered by the prior policy. *
  • Customers are eligible for a concession as a “no-claim bonus” if they have not filed a claim during the policy period immediately preceding the current one. The no-claim benefit begins at 0% and can go up to 50% yearly without a claim being filed. *
  • The no-claims bonus (NCB) on a bike insurance policy is only suitable for the first 90 days after the policy’s expiration date. Customers who have a higher NCB will receive a more significant concession. If there is a claim, the NCB would decrease to 0%, and it would then begin to increase for each year in which no claim was made.*

What does NCB stand for in a policy for a two-wheeler vehicle?

  • The No-Claims Bonus, also known as NCB, is a bonus awarded to the owner or driver of a motorbike when the insurance policy is renewed. Those with no claims filed against them in the preceding years are eligible for the no-claim incentive. *
  • The no-claim bonus can reach a maximum of 50%, up from 0% when there have been no claims in the preceding years. The NCB cannot be transferred to the new owner if the bike is sold. This restriction applies to both buyers and sellers. *

What exactly does “No Claim Bonus” mean regarding bike insurance?

  • No-Claim Bonus, often known as NCBs, help with the two-wheeler insurance premium calculator when they renew their policies, provided they have yet to file any claims within the period covered by the prior policy. Customers are eligible for a concession as a “no claim bonus” if they have not filed a claim during the policy period immediately preceding the current one. *
  • The claim-free incentive begins at 0% and increases by up to 50% yearly without a claim. The no-claims bonus (NCB) on a bike insurance policy is only suitable for the first 90 days after the policy’s expiration date. *
  • Customers who have a higher NCB will receive a more significant concession. If there is a claim, the NCB would decrease to 0%, and it would then begin to increase for each year in which no claim was made.*

*Standard T&C Apply

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘