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How to Claim NCB Bonus for Your Bike Insurance Policy

Published on December 12, 2019. EST READ TIME: 5 MIN

If you have a bike then you probably already how important insurance is. While buying motor insurance, most of us get this thought, ‘What if I don’t claim during the policy tenure? All the premium money would go waste’.While insurance is a safety cover for chance mishaps, not using this cover, at least until you really need it, also has its own benefits. Here is when No Claims Bonus(NCB) comes into the picture.

What is NCB for bike insurance?

As a bike insurance policy holder, if you have not claimed for compensation even once during the entire policy tenure, then at the time of policy renewal, you are eligible for NCB. Premiums generally have the tendency to rise, as with age, your bike gets more risky and also with inflation, the cost of repair increases. So at the time of policy renewal,you might have to sign for higher premium but in case you are eligible to avail NCB, this discount will considerably bring down the premium amount.

Benefits of NCB

  • First of all, an incentive like this encourages you to drive your bike absolutely safely and follow all traffic rules.

  • The best part is that NCB is easy to transfer. It is kind of a goodwill that you have earned as a driver. So at the time of renewal of policy, in case you want to shift to a different insurance provider, you can carry on the benefits of NCB.

  • NCB also reduces the premium considerably, so you can reap the financial benefits. If you are planning to trade a new bike in place of your old bike, in that case, while buying insurance for the new bike, you can avail the NCB acquired on the old bike.

How to claim NCB

At the time of renewing your bike insurance policy, you can avail the No Claim Bonus earned on the old policy on the own damage of motor insurance.. Consider the total claim-free years in your policy and apply the applicable no claim bonus rate to claim a premium discount in the policy. Make sure to check whether your insurer has included the benefits of the No Claim Bonus discount (if applicable) in the bike insurance quote provided to you.

How is NCB calculated?

NCB ranges from 20% to a maximum of 50%, for every consecutive claim-free year.. It is important to note that NCB is offered only on comprehensive bike insurance policy and not on third party insurance policy.

When can NCB be terminated?

Even a single small claim made can nullify the accumulated NCB benefit. NCB can be terminated:

  • If a claim has been made by you during the policy year and you’ll not be eligible for availing a discount on the next year’s policy premium.

  • In case you fail to renew the policy within 90 days from the actual date of policy expiration.

So, now that you understand what NCB is and why it matters, you can avail all the benefits of NCB on your bike insurance policy and get rewarded with attractive offers.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales

This blog has been written by

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

Mr.S. Gopalakrishnan recommends "HDFC ERGO for your vehicle insurance needs, it has always put customer’s interest at the forefront, with round the clock assistance to deal with emergency breakdown issues and hassle free claims process. You can be assured of complete and reliable guidance through the whole process."


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