More and more people in India are driving four-wheeled vehicles. It's important to note that automobile insurance is mandatory in India, and you must get it when you buy a car. But the good news is that most insurance companies offer NCB benefits to their policyholders.
Until recently, most Indians had no idea what the NCB stood for! What is NCB? is one of the most often asked questions, and we're here to help.
NCB is earned throughout a policy's coverage period. It is not a benefit that is automatically included in the policy. An insured must not file any claims during the policy term to be eligible for the NCB. This means that you can only use the NCB once you have renewed your two-wheeler insurance policy for the second time. During a specific year of the policy coverage, you are limited to a certain pre-determined sum.
What Is The Complete Form Of NCB?
No Claim Bonus is the NCB abbreviation. Car insurance companies reward their clients who do not submit a claim during a policy year to discount their premiums. In return, the insured receives a discount on their tips for the following policy year when they renew their insurance coverage.