No Claim Bonus

[Madhura]

Protected No Claims Bonus (PNCB) is an addition to a policy where protection is added to a customer’s No Claims Bonus to limit it being affected following an accident should they be found to be at fault. Customers can pay to protect it. This ensures that if they have an accident the NCB remains intact.

It's not available in India. Normal practice in UK.

But why would someone pay to get the protected NCB?

[alokss]

We have 2009 Maruti Alto, last year we have changed the insurer and agent also mentioned NCB on the policy (we took claim on first policy) and now the car is met with an accident and 80% damaged. Can we pay the NCB amount as premium to insurance company and get the claim? It's not our fault the agent mentioned no claim to reduce the premium.

[LastWarrior]

We have 2009 Maruti Alto, last year we have changed the insurer and agent also mentioned NCB on the policy (we took claim on first policy) and now the car is met with an accident and 80% damaged. Can we pay the NCB amount as premium to insurance company and get the claim? It's not our fault the agent mentioned no claim to reduce the premium.

You have not declared correct info at the time of proposal form, so the insurance company will reject your claim.

[Master]

Alokss,

It's duty of the insured to check the proposal form before signing it and later on you can also check the policy that - what you are paying > what you are getting.

[Ansh]

I had 20% NCB from my previous insurer which I had used on the current insurance policy to get some money off. So, if I do not make a claim this year, I will have 25% NCB for the next year's policy. But however, if I make a claim on the current policy, will I have nil NCB or will I still have my previous 20% NCB?

[PolicyWala]

I had 20% NCB from my previous insurer which I had used on the current insurance policy to get some money off. So, if I do not make a claim this year, I will have 25% NCB for the next year's policy. But however, if I make a claim on the current policy, will I have nil NCB or will I still have my previous 20% NCB?

Currently NCB uses sunset clause, means that when ever there is a claim, it will take you to zero level.