FAQs 164 views October 10, 2018

You must have heard the term No Claim Bonus (NCB). This is a benefit typically designed and extended by the insurance company to those policyholders who do not file any claim during the entire policy term of their insurance policy. The insurance claim benefit is given in the form of a certain percentage of discount on premium during the renewal of the policy. Most insurance companies allow 20 percent discount on one claim-free year, 25 percent discount on two claim-free years, 35 percent discount on three claim-free years, 45 percent on four claim-free years and 50 percent for five claim-free years.