Everybody gets excited at the idea of getting a reward for a work well done. Even in our day-to-day life, be it at our workplace or at a shopping center, it is the idea of receiving bonuses and discounts that keep us going. Similarly, insurance companies have their own way of rewarding policyholders with a No Claim Bonus. As the name suggests, a No Claim Bonus (NCB) in insurance is the discount in premium offered by insurance companies to vehicle owners who haven’t made any claims during the term of their motor insurance policy. NCB in insurance can be easily transferred to another insurance company provided that the policy is renewed within 90 days of its expiry date.
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