Insurance: You can save money on new car insurance, take advantage of a claim bonus like this
Insurance: According to the website of insurance regulator IRDAI, if the insuring party has a no-claim bonus certificate but does not own a car, then he can avail the benefit of the already existing NCB on the insurance of the new car. Whenever a person buys car insurance and does not file any claim in that year, he gets the benefit of NCB i.e. No Claim Bonus.
If you are thinking of buying a new car, then you can avail the no-claim bonus of the old car on its insurance. Through this, you can also save a lot of money on the insurance of your new vehicle.
According to the website of insurance regulator IRDAI, if the insuring party has a no-claim bonus certificate and does not own a car, then he can avail the benefit of the already existing NCB on the insurance of the new car.
Whenever a person buys car insurance and does not file any claim in that year, he gets the benefit of NCB i.e. No Claim Bonus. At the same time, if a claim is filed then he does not get the benefit of no claim bonus. According to the rules, this can range from 20 percent to 50 percent of the insurance premium.
Even if you want to change your insurance company at the time of policy renewal, you can easily transfer to NCB. For this you will be required to provide proof of NCB received in the form of renewal notice from the existing insurance company. To avail the benefits of NCB, you should keep renewing the insurance policy on time.
