What Is NCB?

NCB is the no claim bonus which is offered to car insurance customers at the time of renewal if there is no claim during the previous policy period. The no-claim bonus is a form of discount offered to the customers for not making a claim in the previous policy period. The no-claim bonus starts from 0% and reaches up to 50% for each claim-free year. NCB in auto insurance is valid for a period of 90 days from the expiry date of the policy after which the NCB would lapse. Higher NCB means a higher discount for the customer. 

What is NCB in Insurance Policy?

NCB( no-claim bonus) in an insurance policy is a form of discount offered to the customers for not making a claim in the previous policy period. The no-claim bonus starts from 0% and reaches up to 50% for each claim-free year. NCB in auto insurance is valid for a period of 90 days from the expiry date of the policy after which the NCB would lapse. Higher NCB means a higher discount for the customer. If there is a claim the NCB would be reduced to 0% and then increases for each claim-free year. The NCB in health insurance is the extra sum insured offered to the customer for not making any claim during the previous policy period.

What is previous NCB?

In motor insurance, the No Claim Bonus (NCB) in an insurance policy is the discount offered by the insurance company on the own damage section of the insurance policy for the customers who don’t claim in the previous years. The no claim bonus is a reward given to the customers who refrain themselves from small claims or customers with good driving behavior.

What is NCB in Insurance?

NCB is the no claim bonus which is offered to auto insurance customers at the time of renewal if there is no claim during the previous policy period. The no-claim bonus is a form of discount offered to the customers for not making a claim in the previous policy period. The no-claim bonus starts from 0% and reaches up to 50% for each claim-free year. NCB in auto insurance is valid for a period of 90 days from the expiry date of the policy after which the NCB would lapse. Higher NCB means a higher discount for the customer. If there is a claim the NCB would be reduced to 0% and then increases for each claim-free year. The NCB in health insurance is the extra sum insured offered to the customer for not making any claim during the previous policy period.

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