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Glossary

Glossary | N | What is ncb

What is NCB?

NCB is a policy specially designed for the vehicle owners. Insurance companies offer discounts in premium and this procedure is considered as NCB. It is also popularly known as ‘No Claim Bonus’. This is applicable for the vehicle owners who have not claimed any of the financial claims during the tenure of motor insurance policy. It is a practice done by the insurers to their vehicle policy holders or their Motor Insurance Customers. NCB can be accrued over the years. The range of discounts can uplift from 20% upto 50% on the settled damage premium. It is a bonus or discount for the customers who never made any financial claims. Customers who change their vehicles can also avail this service and their NCB can be transferred in their account for the newly purchased motor vehicle.

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