AUTOLIVENEWS
What is NCB in Bike Insurance?
Introduction
• NCB in bike insurance, or No Claim Bonus, is a discount offered by insurance companies to policyholders for not making any claims during the policy term.
• It is a reward for safe driving and can significantly reduce the premium in the subsequent policy year.
•NCB in bike insurance refers to the discount given on the renewal premium for every claim-free year.
How NCB Works:
•After each claim-free year, policyholders receive an increasing discount on their premium, starting at 20% and going up to 50%.
•For instance, no claims in the first year could give a 20% NCB, rising up to 50% for 5 consecutive claim-free years.
Eligibility
• NCB in bike insurance is linked to the policyholder, not the vehicle.
• If you buy a new bike or switch insurance companies, the NCB can be transferred.
NCB Benefits
• Lower premiums, saving money in the long term.
• A strong incentive to ride safely and avoid accidents.
Transfer of NCB
• NCB is transferrable when you change insurers or purchase a new bike.
• The bonus remains valid for up to 90 days after policy expiry, giving you a window to renew without losing your NCB.
Impact of Claims on NCB:
• Making a claim during the policy period will result in the loss of NCB.
Importance of NCB
• NCB in bike insurance helps reduce the cost of your insurance significantly.
• It rewards responsible riding and promotes good driving behaviour.
Call to Action
• Always check your NCB status and ensure you are maximizing your savings on bike insurance renewals.