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What is NCB?

April 26, 2017NCB

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What is NCB?

2 Answers

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NCB means No Claim Bonus. It is given as an incentive to reward for safe driving in terms of discount in a premium. On renewal percentage of bonus increases with every claim free year and its withdrawn if there is claim.6.

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NCB is only for car insurance and means no claim bonus under the Motor insurance policy. Policyholder with one completed year of clean claim record will be given 20% NCB upon renewal of the policy and then the NCB will be increased by 10% for each additional consecutive year of clean claim record up to a maximum of 60%. The NCB is reflected in the renewal premium.