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What is no claim bonus? #shorts #youtubeshorts
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No Claim Bonus or NCB is a reward given by an insurance company to an insured for not raising any claim requests during a policy year. The NCB is a discount ranging between 20%-50% and is given to the insured while renewing a policy. The NCB discount is offered on the premium amount during renewal. This discount is transferable and can be transferred even if the policyholder buys a new vehicle.
The No Claim Bonus feature stops working under the following scenarios:
1. If a claim request is raised, then the NCB will be scrapped.
2. If a policy is not renewed within 90 days of expiration, then also the NCB discount becomes invalid.
[No claim bonus, CA Sakchi Jain, car insurance, purchase of new car, NCB, what is no claim bonus]
#noclaimbonus #casakchijain#carpurchase #car #insurance #fortuner #youtubeshorts #novkiam #insurers
No Claim Bonus or NCB is a reward given by an insurance company to an insured for not raising any claim requests during a policy year. The NCB is a discount ranging between 20%-50% and is given to the insured while renewing a policy. The NCB discount is offered on the premium amount during renewal. This discount is transferable and can be transferred even if the policyholder buys a new vehicle.
The No Claim Bonus feature stops working under the following scenarios:
1. If a claim request is raised, then the NCB will be scrapped.
2. If a policy is not renewed within 90 days of expiration, then also the NCB discount becomes invalid.
[No claim bonus, CA Sakchi Jain, car insurance, purchase of new car, NCB, what is no claim bonus]
#noclaimbonus #casakchijain#carpurchase #car #insurance #fortuner #youtubeshorts #novkiam #insurers
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