What Is The Maximum No Claims Bonus For Two-Wheeler Insurance?

Staying aware of the two-wheeler insurance terms can help an intending policyholder to save on his/her policy premium and make an informed decision while purchasing. A No Claim Bonus or NCB in bike insurance is one such deciding factor that lowers the burden of policy premium.

An NCB in bike insurance is primarily a discount or savings on a premium that a respective motor insurance company offers if the policyholder has not raised any claim during his/her policy term. However, the maximum NCB for a two-wheeler insurance plan varies across insurance providers.

Read along to know about the maximum NCB and its importance in detail.

NCB for Two-Wheeler Insurance

An NCB in two-wheeler insurance plans helps policyholders to save substantially on their premiums. Under this concept, policyholders can avail discount on the premium during renewal after completing a claim-free year in policy tenure. NCB can be included as an additional cover over existing policy to protect NCB from being impacted by making claims.

The discount percentage of NCB ranges between 20%-50% based on the number of claim-free years. However, the maximum NCB in bike insurance can add up to 50% of the premium amount for not raising a claim for 5 subsequent years. This is how the insured person can significantly curtail expenditure on two-wheeler insurance and save money.

Benefits Of NCB In Two-Wheeler Insurance

As policyholders already know that NCB can be retained by not raising any claim during the policy term, he/she must also note that NCB in bike insurance can only be availed on their own damage premiums and not on third-party premiums. Therefore, policyholders must purchase a comprehensive two-wheeler insurance plan or standalone own damage cover to enjoy NCB benefits.

Nonetheless, here are some of the exclusive benefits that borrowers can receive from NCB:

If no claim is raised by the policyholder throughout the policy period, the accumulated NCB can be used as a discount amount during the time of making premium payments on policy renewal.

  • Retain NCB

The insured person can retain the NCB on their two-

insurance plan but did not make any claim during the plan tenure. It is like a token of appreciation that is received from insurance companies. Resultantly, it develops one’s riding skills and makes him/her a responsible rider.


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    • Transfer NCB

    The earned NCB belongs to the concerned policyholder. Hence, if one plans to switch insurance providers, the accumulated NCB amount can be transferred to a new insurer, and benefits can be enjoyed from there.

    How To Raise An NCB Claim?

    During bike insurance policy renewal, you can claim NCB earned from the old insurance plan. For this, you need to consider the claim-free years in the policy and apply NCB rate to claim a discount on premium paid towards the bike insurance plan. You must ensure that the concerned insurance plan has added NCB discount to the two-wheeler plan provided to you.

    To conclude, NCB in bike insurance is longer valid after raising a claim anytime during the policy tenure. This NCB gets terminated or canceled if the policyholder fails to renew the two-wheeler insurance plan on time.

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    What Is The Maximum No Claims Bonus For Two-Wheeler Insurance? — Bike Hacks