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No claim bonus (NCB)

No claim bonus (NCB) is a discount, given by an insurer to a policyholder for making no claims during the policy term.

 NCB can be accumulated over the years and the discount ranges from 20% to 50% on the own damage premium.

This is simply a general insurance company's way to reward a customer's good driving behavior.
 Say at the end of 12 months the insured did not claim any own damage in this case the insurance company provides them a discount by giving NCB based discounts in their premium.

  • Discount earned by insured for a claim free completed year.
  •  In case of Own Damage claim, No Claim Bonus gets back to 0%
  • NCB can be transferred from one insurer to other
  • If the vehicle is sold during the policy period, insurer issue an NCB reserving certificate, the validity of which is 3 years from the date of sale of the vehicle

Below mentioned is the NCB Slab

NCB Slab
All Types of Vehicle
(No Claim made or Pending during the Preceding)
Percentage of Discount on OD Premium
Full year of Insurance 20%
2 consecutive years of Insurance 25%
3 consecutive years of Insurance 35%
4 consecutive years of Insurance 45%
5 & more consecutive years of Insurance 50%