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What Is The Maximum No Claim Bonus Under Bike Insurance?

Written by Udit Varshney
Updated On Mar 19, 20212 min read
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NCB or No Claim Bonus refers to a discount that is offered at the time of renewal of your insurance if no claim has been made during the policy tenure. Let’s read all about it.

Bike Insurance No Claim Bonus or NCB is a discount offered to you at the time of renewal of your bike insurance. It is offered if there have been no claims made during your policy tenure, as a reward for being a cautious and low-risk customer. This discount on your premium is one of the most popular ways to avail of a reduction to your premium cost. It is cumulative in nature and increases over time with every year that you go without filing a claim. How does one get the maximum benefit out of NCB? Let’s find out.

What Is The Maximum No Claim Bonus Under Bike Insurance?

What Is The Maximum No Claim Bonus In Bike Insurance?

The maximum NCB in a policy is 50%. It will come back to 0 if you file a claim and then will start to accumulate once more from the beginning. Up till 50%, it accumulates in the following progression:

Number Of Continuous Claim Free Years

Percentage Of No Claim Bonus (NCB) Discount

1

20%

2

25%

3

30%

4

45%

5 or more

50%


What is NCB Protect Add-On?

The NCB Protect Add On is an additional coverage you may purchase in order to help maintain your NCB discount cumulation. It is offered so that customers may avoid a single claim setting back their NCB discount cumulation. Under this kind of add on cover, making a small claim would allow you to continue to accumulate NCB without having it set back to 0 with every claim. It is a useful way to get the maximum out of No Claim Bonus and to enhance the coverage of your bike insurance policy.

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Conclusion

NCB is a popular and useful way to save on your bike insurance premium. As mentioned, it is used to reward customers for being responsible and imposing minimum risk upon the bike insurance company. The maximum NCB discount is 50%, after which you will stop accumulating an NCB discount even if you do not make a claim. When comparing bike insurances online and deciding which one is best for you, make sure to factor in which one offers the highest NCB.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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Written by Udit Varshney
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 Udit has built B2C segments across various industries and has had significant contributions to the insurance sector. Udit in his last stint helped set out the last mile vertical, which soon became the go-to logistics name for daily needs, In his free time, Udit likes to write and listen to poetry.

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