How to Claim NCB Bonus in Bike Insurance Policy
How to Claim NCB Bonus in Bike Insurance Policy

When renewing your two wheeler insurance, you may notice a reduction in your premium if you haven’t raised a claim during the policy period. This discount, known as the No Claim Bonus (NCB), is a reward for safe riding and responsible ownership. Let’s dive into how you can make the most of it.
What is NCB for Bike Insurance?
NCB, or No Claim Bonus, is a concession offered by insurers to policyholders who haven’t raised a claim during the preceding policy term. It applies to the own damage cover part of your policy and not to third-party bike insurance. It is transferable if you sell your old bike and buy a new one, as it belongs to the policyholder, not the vehicle. NCB increases progressively each year you do not make a claim, making it a highly beneficial feature in bike insurance.
Benefits of NCB
Let’s look at why NCB in bike insurance matters to the policyholders.
• Premium savings:
NCB can reduce your insurance premium significantly, with discounts ranging from 20% to 50%.
• Encourages safe riding:
Since making a claim resets the NCB, riders will be more careful on the road.
• Transferable benefit:
Even when you purchase a new bike, your accumulated NCB can be transferred to that two-wheeler.
In essence, NCB not only saves you money but also instills a sense of responsibility in riding your bike.
How to Claim NCB?
When you are continuing with the same insurer, the NCB automatically accumulates with every consecutive claim-free year. However, if you plan to switch insurance companies during renewal, obtain the NCB certificate from your current insurer. Provide your previous policy copy and the NCB certificate to your present insurance agency to enjoy the benefits.
If you’ve sold your old bike and bought a new one, you can transfer the NCB benefit to your new two-wheeler insurance policy by submitting the sale deed/ownership transfer papers to your insurer.
How is NCB Calculated?
The NCB percentage increases with each claim-free year. Here is the typical structure:
• After 1 claim-free year: 20%
• After 2 consecutive claim-free years: 25%
• After 3 consecutive claim-free years: 35%
• After 4 consecutive claim-free years: 45%
• After 5 consecutive claim-free years: 50% (maximum limit)
This progressive reward system makes it worth avoiding small claims that might reset your NCB.
When can NCB be Terminated?
NCB can be terminated if you make even a single claim during the policy year, regardless of the claim amount. It also lapses if your comprehensive bike insurance is not renewed within 90 days of its expiry date.
Conclusion
The NCB in bike insurance is a practical and rewarding benefit that encourages safe riding and responsible ownership. It helps you save significantly on your premium while ensuring strong financial protection. Always remember that NCB applies only to own damage cover, not third-party bike insurance, and is transferable to new bikes. Timely renewals and mindful claim decisions help you enjoy this advantage for years.
FAQs
1. How much NCB does one get after 1 claim-free year?
After one claim-free year, you are eligible for a 20% discount on your own damage premium.
2. What is the NCB after 5 years?
If you do not make any claims for five consecutive years, you can enjoy a 50% discount, which is the maximum allowed.
3. What is the maximum no-claim bonus?
The maximum No Claim Bonus offered is 50% on the own damage portion of the premium.
4. Can I get NCB on third-party bike insurance?
No, NCB applies only to the own damage component. It does not apply to third-party bike insurance.
5. Can I use the No Claim Bonus (NCB) on two different bikes?
No, NCB is linked to the policyholder and can be applied to only one bike insurance policy at a time.
6. Can I make a claim and retain my NCB?
No, even a single claim will usually reset your NCB to zero. However, some insurers may offer an NCB protection add-on that allows you to retain NCB even after a claim.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.
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