What Are the No Claim Bonus Benefits on Long-Term Two-Wheeler Insurance?

By Garima Gaur

A No Claim Bonus or NCB is a reward that drivers enjoy for good driving quality on the road. This is directly reflected by the number of damage repair claims you make in a year. If you claim an NCB once for a one-year plan, it expires. However, for a long-term two-wheeler insurance cover, you can enjoy several benefits of an NCB.

Benefits of NCB on Long-Term Two-Wheeler Insurance

The benefits of No Claim Bonus on long-term two-wheeler insurance are as follows:

• On claiming NCB once, only a part of the NCB will be deducted, but it will not be zero unless you exceed the maximum number of claims.

• You can easily transfer the NCB from one insurer to another by changing the insurance provider to continue enjoying its benefits.

• The discount on premiums keeps accumulating with an increase in the claim-free years. Hence, you must restrict yourself from raising a claim for minor issues.

• You can purchase an add-on cover of no-claim bonus protection to prevent the bonus from lapsing.

An NCB protection add-on cover is pocket-friendly and easily affordable, allowing you to safeguard and keep enjoying the benefits of an NCB.

NCB Protection Add-On Cover

An NCB protection add-on cover bestows you with the protection of your NCB while raising a claim. Thus you can keep accumulating your NCB to enjoy maximum discounts on your premiums even after you raise a claim.

This cover is only applicable on a comprehensive insurance policy and not on a third-party policy. In addition, there are several inclusions under the NCB protection add-on cover.

Inclusions of NCB Protection Add-On Covers

The inclusions of NCB protection cover are as follows:

• You can raise up to two claims a year without losing NCB.

• The add-on protects your NCB when you raise a claim for repairing a damaged vehicle.

• You will have to renew your vehicle under the same insurer to keep enjoying its benefits.

Additionally, you must also be aware of the exclusion of this add-on cover.

Exclusions of NCB Protection Add-On Covers

The exclusions of NCB protection cover are as follows:

• Raising a claim in case of theft or loss of a vehicle.

• Distorting important evidences and facts.

• Raising fraudulent damage claims.

• Distorting facts while raising a damage-related claim.

There are certain limitations of NCB that you must be aware of while enjoying its benefits.

Limitations of NCB

The limitations of NCB are as follows:

You can enjoy an NCB only on comprehensive insurance plans and not on a third-party policy.

At most, you can avail a discount of 50% on your premiums as a reward of NCB.

• You cannot avail NCB on a commercial vehicle.

• You will not be able to accumulate NCB if you raise even a single claim in a year unless you buy an NCB protection add-on separately.

Now that you know the benefits of NCB on long-term bike insurance, you can accumulate one to enjoy the discounts. All you need to do is refrain from raising minor claims to enjoy its benefit.