How To Claim NCB On New Oriental Car Insurance Policy?
Published On Aug 14, 2021 11:00 AM By InsuranceDekho
Read this article to understand how you can claim your No Claim Bonus for Car insurance with New Oriental General Insurance.
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All car owners have a moral duty to drive properly since it lowers the risk of accidents and loss. Human error, violating the law, or making a mistake while driving, on the other hand, can all result in negative consequences. Financial losses are covered by insurance, but on-road hazards are the driver's responsibility. The insured receives NCB if no unfavourable occurrences occur. The term "No Claim Bonus" refers to a bonus that is not claimed. This post will teach you all you need to know about lowering the rate on a new automobile by utilising the NCB from an old car insurance policy.
Oriental Insurance Company Ltd., founded in September 1947, is one of India's largest general insurance companies. Bike insurance plans, four-wheeler insurance policies, personal accident policies, and other products are among the company's offerings. The company's bike insurance coverage protects you against financial losses in the case of an accident, vehicle damage, or theft.
Claiming No Claim Bonus On Oriental Car Insurance
When you are switching from a different insurer to Oriental General Insurance, you can transfer your No Claim Bonus component from the previous policy to the policy that you purchase with Oriental Insurance. The current year's NCB is calculated using simply the car insurance policy as a reference. Here's how you can use the NCB from your old car to save money on your new car's insurance policy -
Earn Your No Claim Bonus On Previous Policy
Driving your car cautiously and not claiming your car insurance for minor losses is one of the most efficient strategies to get NCB. While the main purpose of purchasing car insurance is to receive financial help in the event that your vehicle is damaged, you should only utilise your car insurance when the repair expenses are excessively burdensome to you. The NCB component will be removed if you use your auto insurance for minor repairs. As a result, avoid filing an insurance claim and instead collect the NCB, which you may use for your new car insurance policy.
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Claim The No Claim Bonus Component At Oriental Car Insurance
You are now aware that the NCB grows with each year of claim-free service for a total of five years. A 50% discount on your vehicle insurance coverage is the highest you may get. After the sixth year, you will continue to earn a 50% discount until you submit a claim or fail to renew the policy for more than 90 days. You can have your NCB moved from your previous car insurance policy to your current one if you have collected a discount and wish to buy a new car. This implies that even if you buy a new car and a new policy, you can still get a 50% premium discount on your Oriental Car Insurance.
Produce The No Claim Bonus Certificate To Claim On Oriental Car Insurance
You must get the NCB certificate in order to transfer the NCB from your previous vehicle insurance to your new one. This is a document that supports your request to transfer the NCB to the new insurance policy. The following are some scenarios to think about -
- Switching To Oriental General Insurance
To obtain a discount on your new Oriental car insurance policy from a different insurer, you must request that your previous insurer submit the NCB transfer letter and the NCB certificate to transfer your No Claim Bonus to your new Oriental Car Insurance.
- When You Are Purchasing A New Policy At Oriental Insurance
When you already have a policy with Oriental Car Insurance, and you wish to purchase new car insurance, you can request your NCB certificate.
When you are purchasing a new car insurance policy, you must always make sure to select a policy that suits your budget along with providing adequate coverage. Thus, make sure to utilize your NCB to buy a policy that offers you optimum coverage.
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.