How to Claim NCB Under Your Car Insurance?
What is No Claim Bonus (NCB) in Car Insurance?
The No Claim Bonus is a discount on the own damage (OD) premium portion of your car insurance. It's granted when you do not file any claims during the policy year. The bonus starts at 20% after the first claim-free year and increases progressively, capping at 50% after five claim-free years.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
4 days ago
- India Today
What nobody tells you about buying motor insurance
India's passenger vehicle market is rising, with more people buying cars than ever before. In FY25, domestic wholesale sales touched 4.30 million units, up 1.97% from 4.22 million units in while car sales are climbing, many buyers remain unaware about the finer points of motor insurance, a gap that can cost them money and create problems when making a INSURANCE MARKET IS GROWING FASTThe motor insurance market in India is already large and growing fast. Expert Market Research values it at USD 11.39 billion in 2024, while IMARC Group puts it at USD 29.80 billion and Mordor Intelligence at USD 13.19 2034, the market is expected to cross USD 30 billion, growing at an annual rate of 7.13% to 10.40%. Motor insurance makes up 31.68% of the general insurance sector and recorded 13% growth in of September 2024, it continues to grow at 9%, driven by higher vehicle ownership, rules that make insurance compulsory, more people buying policies online, and the rising demand for specialised cover for electric MISTAKES FIRST-TIME BUYERS MAKEHowever, experts say that many people still make avoidable mistakes when buying a policy, especially first-time Kumar, Sebi-registered investment adviser and founder of Sahaj Money, said, 'Many first-time motor insurance buyers make the beginner's mistake of buying only basic third-party coverage without comparing other policies. They also underestimate required coverage, don't provide correct details, or don't go through policy terms, which could later lead to claim rejection.'One of the most important decisions for a buyer is setting the Insured Declared Value (IDV) of the advises, 'First-time buyers should decide about the vehicle's IDV based on its current market value instead of basing the coverage on its sale price. They should also go for comprehensive coverage and not just third-party coverage.'CHOOSING ADD-ONS WISELYAdd-ons are another area where many car owners are unsure. According to Kumar, 'A coverage which provides zero depreciation, engine protection, and roadside assistance as part of the coverage is a great option as it would help in reducing out-of-pocket expenses and help in emergencies or major repairs.'On the other hand, he said that some add-ons are often unnecessary: 'Add-on cover which provide benefits such as daily allowance, excessive consumables, tyre protection (unless roads are very rough), and loss of belongings are often bought but rarely claimed or needed by vehicle owners.'Balancing cost and coverage is also key. 'Buyers should use online insurance aggregator sites to compare policies online, then tailor their IDV accordingly, choose only needed add-ons, leverage No Claim Bonus, and consider voluntary deductibles to cut premium costs,' says THE FINE PRINT BEFORE SIGNINGHe also warns against skipping the fine print. 'First-time buyers should look for exclusions, deductibles, limits on claims, add-on conditions, renewal rules, and claim procedure before finalising the policy as missing out on these details can affect what they can actually claim and have to pay.'With car ownership growing and the motor insurance market expanding rapidly, better awareness about coverage types, add-ons, costs, and policy terms can help buyers avoid expensive mistakes and ensure that their insurance truly protects them when needed.- Ends advertisement
Time of India
11-08-2025
- Time of India
Mizoram begins recruitment for Mizo Territorial Army battalion to combat drug trafficking
Guwahati: The Mizoram government has started recruiting for a Mizo Territorial Army ( MTA ) battalion to address drug trafficking and other law and order issues. A Mizoram Home Department official said that 70 male candidates will be recruited for the first batch, with more batches to follow. Successful candidates will undergo nine months of rigorous training at the Assam Regimental Centre in Shillong before being posted in different parts of Mizoram, particularly in border areas. Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Mizoram Chief Minister Lalduhoma, during an earlier visit to New Delhi, discussed the MTA's formation and other matters with Home Minister Amit Shah. 'The Chief Minister expressed his gratitude to the Home Minister for supporting his proposal to establish the MTA battalion, describing it as a crucial initiative to employ Mizo youths while contributing to national security ,' the official said. The Narcotics Control Bureau (NCB) has also proposed setting up a zonal office in Mizoram. NCB Director General Anurag Garg recently met the Chief Minister, suggesting the creation of a full-fledged office in the state and stressing the need for more personnel who understand the local language and the ground realities. Live Events
NDTV
01-08-2025
- NDTV
Indian Fugitive In Bank Fraud Case Deported From UAE, Brought To Delhi
New Delhi: In a major breakthrough, the Central Bureau of Investigation (CBI) has secured the deportation of fugitive Udit Khullar from the United Arab Emirates (UAE) in connection with a Rs 4.55 crore bank fraud case. Mr Khullar was brought to Delhi's Indira Gandhi International Airport today, following coordinated efforts between the CBI and UAE authorities through Interpol channels. Wanted by the Delhi Police's Special Cell, Mr Khullar had been on the run ever since allegations of criminal conspiracy, cheating and forgery against him came up. Investigators said Mr Khullar and his associates took three home loans by submitting fake property documents to both public and private sector banks. The properties, which were used as collateral, were not owned by Mr Khullar, causing losses of over Rs 4.5 crore to the banks. The CBI's International Police Cooperation Unit (IPCU), working in close coordination with the National Central Bureau (NCB) in Abu Dhabi, tracked Mr Khullar's location in the UAE. He was arrested and subsequently deported to India after a formal request was sent by the CBI. The CBI, which serves as India's NCB for Interpol, has intensified crackdown on financial fugitives hiding abroad. Over 100 such criminals have been brought back to India in recent years through proactive coordination via Interpol and the Bharatpol framework. This successful deportation reinforces India's commitment to holding economic offenders accountable, regardless of their location, officials said.
