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Our team will contact you shortly to provide personalized assistance with your insurance plan. Table Of Content Understanding Signal Jump Fines in Mumbai How Bike Insurance Companies Handle Signal Jump Fines
5. Impact on No Claim Bonus (NCB) benefits
For every claim-free year, insurers reward you with a No Claim Bonus (NCB) - a discount on the renewal premium that can go up to 50% for 5 consecutive claim-free years. However, if you fail to renew your policy within 90 days of expiry, you lose the accumulated NCB. Though you can transfer the NCB while buying insurance for a new bike, this is not possible if the previous policy has lapsed. By driving around without insurance, you put your hard-earned NCB benefits at risk.
· Impact on no-claim bonus
Repeated traffic violations, including a signal jump fine in Mumbai, can impact on a rider's No Claim Bonus (NCB). NCB is a discount offered by insurance companies on the premium for each claim-free year. If a rider accumulates multiple traffic fines, the insurance company may consider them a high-risk policyholder and reduce or nullify their NCB.