No Claims Bonus: How Safe Riding Rewards You In Bike Insurance

Bike insurance is a crucial purchase when it comes to protecting your two-wheeled friend. The No-Claim Bonus (NCB) is one feature of online bike insurance that sticks out as a benefit for riding responsibly. NCB is a special feature that can greatly impact how much your bike insurance renewals will cost and what it covers. In this blog, we’ll go over the advantages of NCB and why keeping a claim-free record is a wise decision.

Cost Savings And Benefit Accumulation

The primary benefit of NCB lies in cost savings. Online bike insurance premiums are directly reduced, starting at 20% and escalating to 50% over consecutive claim-free years. This cumulative bonus not only results in substantial savings but also acts as a powerful incentive for riders to maintain a clean claims record. ##

Transferability And Protection Against Small Repairs

An appealing aspect of NCB is its transferability. If you switch bikes or insurers, you can carry over your accrued NCB, enjoying reduced premiums on the new policy. Additionally, NCB can shield against minor repair costs. Opting to cover small expenses out of pocket preserves the NCB, preventing increased premiums due to claims. ##

Long-Term Relationship And NCB Protector

NCB fosters enduring relationships between policyholders and insurers. As NCB accumulates, riders are less likely to switch insurers, promoting mutual trust and loyalty. Some insurers offer an NCB Protector as an add-on, allowing specific claims without affecting the overall NCB and ensuring premium concessions remain intact. ##

Expense-Effectiveness Over Time And NCB Transfer Between Vehicles

The cumulative impact of NCB translates into significant long-term cost savings. For instance, a five-year claim-free streak leading to a 50% NCB can halve the insurance premium. Furthermore, the transferability of NCB between vehicles incentivises safe riding habits and responsible ownership. ##

Reward For Preventive Maintenance And Encouragement Of Self-Reliance

NCB acts as a reward for maintaining bikes in excellent condition, reducing the likelihood of accidents due to malfunctioning parts. It also encourages self-reliance by motivating owners to handle minor repairs independently, fostering accountability and independence.

Greater NCB For Long-Term Policies And NCB In Third-Party Claims

Opting for long-term policies with locked-in premiums provides a substantial NCB advantage. Moreover, filing a claim does not impact NCB, ensuring its preservation in third-party claims where the policyholder is not at fault.

Regarding bike insurance renewals, the No-Claim Bonus (NCB) is a potent tool that incentivises riders to drive defensively and responsibly. In addition to offering significant cost savings, it promotes safe riding behaviours and builds enduring bonds between policyholders and insurers. You can take advantage of NCB benefits and ride in greater affordability and security by maintaining a spotless claims record. Recall that your NCB is an asset that should be preserved because it shows how committed you are to responsibility and safety. Make sure you carry out the process of Bajaj Allianz’s third-partytwo-wheeler insurance renewal on time. Claims are subject to terms and conditions set forth under the motor insurance policy. * ##

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*Standard T&C Apply

## All savings are provided by the insurer as per the IRDAI-approved insurance plan

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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