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Our team will contact you shortly to provide personalized assistance with your insurance plan. Table of Content Introduction What is NCB in Car Insurance, What Are The Benefits of NCB?
Expert Note
This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.
Expert Note
This information is based on standard motor insurance guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) and commonly followed industry practices. Policy coverage and conditions may vary by insurer.
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What Is the NCB Slab Structure Set by IRDAI?
● 1 year claim-free: 20% NCB discount on OD premium ● 2 years claim-free: 25% ● 3 years claim-free: 35% ● 4 years claim-free: 45%
How is NCB in insurance calculated?
1 claim-free year: 20% 2 claim-free years: 25% 3 claim-free years: 35% 4 claim-free years: 45% 5 or more years: 50%
Why Doesn't NCB in Insurance Apply to a Third-Party-Only Policy?
The logic behind NCB in insurance is that it rewards policyholders who do not make claims for damage to their own vehicle.
What is NCB in Car Insurance, and How Does it Benefit You?
NCB in car insurance is a discount offered for not making any claims during a policy period, helping you reduce renewal premiums.