If you do not make a claim during the policy period, No Claim Bonus (NCB) is offered on renewals. Insurers reward policyholders for not making claims by giving them a discount on the OD premium up to a maximum of 50%. However, it should be noted that NCB would be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.
No Claims Bonus. A discount allowed from a renewal premium in consideration of there having been no claim paid or payable in the previous year of insurance. The use of no-claim discounts is widespread in U.K. motor insurance. Most are granted on a scale that rises with the number of consecutive claim-free years. A no claims bonus is a discount that is applied at renewal of a policy to lessen the premium. A no claims bonus is awarded if there have been no claims made in a full year. For example: if you are a motorist and you have not had any accidents for 3 years then you will receive a no claims bonus of 3 years.
No Claims Bonus. This is usually measured in years. It is how many years you have held car insurance without having an accident or making a claim. read more
No Claims Bonus. It is a discount that one earns on a previous insurance policy. Insurers give discounts determined by the number of years where insured did not have claims.