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What Is the NCB Slab Structure Set by IRDAI?
● 5 years or more claim-free: 50% (maximum) Note: This discount is calculated only on the Own Damage premium of your policy, and never on the total premium you pay.
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Thank you for your interest!
For every claim-free year, the policyholder earns a discount ranging from about 20% in the second year to about 50% for five consecutive no-claim years. The discount helps the policyholder to reduce the premium amount during renewals.