How does NCB help your Bike Insurance?

Is your bike amongst 25% of two-wheelers in India that are insured? The true value of your bike insurance is only realised while making a claim. However, what if there was an option to get rewarded for being a responsibly safe driver and not claiming during the entire policy period?

You could be the one with bike insurance or planning to purchase it. Whatever the case may be, some savings while paying the yearly insurance premium always help! That’s where the NCB or no-claim-bonus comes in handy.

Most industry experts believe that motor insurance premiums, including bike insurance, could considerably go up by 2 to 10% after COVID-19. In such a scenario, the NCB can act as an effective tool for lowering your insurance premium burden.  

Let’s briefly find out all there is to know about the NCB and also understand how it improves your bike insurance experience.

What is NCB Or No-claim Bonus?

  • A discount on premium, offered by your insurance company for riding safely and not raising a claim.
  • Only available with comprehensive bike insurance policies and not the third-party ones. 
  • Applicable to the ‘own-damage premium’ of your insurance plan. 
  • It can go up to 50%, in case you do not claim for five consecutive years.
  • During an accident, if your bike is hit and the other individual raises a third-party claim through his/her insurer, your NCB will not be impacted.
  • Can be transferred to another insurer with the help of ‘NCB Transfer Certificate’ (a clearance certificate valid for three years) from your old insurance company provided you remain the policyholder. 
  • In case of unfortunate death of the policyholder, the NCB can be transferred to the nominee.
  • An NCB protection cover can also be purchased as an add-on. 
  • NCB can be cancelled if the policy is not renewed within 90 days of the expiry.

How is NCB Calculated?

  • NCB comes into the picture only after the first renewal of your comprehensive bike insurance policy.
  • The insurance regulatory body, IRDAI, has already set the limit on discounts insurance providers can offer. 
  • They depend on the number of claim-free years. 
  • The discount percentage goes up with each consecutive claim-free year and every year of not raising a claim ensures the discount gets accrued.
  • You get a 20% discount on premium for the first claim-free year, it then moves to 25%, 35%, 45% and eventually 50% for five claim-free years.

NCB Benefits for Bike Insurance

  • You get encouraged to adhere to all the traffic guidelines and drive safely, knowing that more than 1.5 lakh people die and 3 lakh are crippled every year due to road accidents.
  • NCB is an incentive for you to bear small repairs and expenses, whenever possible, instead of filing an insurance claim. 
  • It brings financial benefits by helping you reduce the bike insurance premium. 
  • Easily transferable to the new insurance company. 
  • Keeps you alert and avoids lapses in insurance renewal within 90 days that can lead to the termination of your NCB.

Please note that the NCB earned cannot be shared between two separate bike insurance policies. The NCB-protection add-on features vary from one insurer to another. You could be allowed to raise a predecided number of claims before your NCB gets invalidated. 

Under any circumstances, one must not cancel insurance before the tenure ends as your NCB for the specific year will be revoked. 

The top 10 bike insurance providers in India have a claim settlement ratio between 73% to 93%. It’s worth getting bike insurance, and it certainly brings great relief when the need arises. Undoubtedly, the NCB brings multiple benefits with your bike insurance policy. That being said, it must not be looked at as a mean to earn a discount or extra cash. Rather, it should be considered a motivator that makes you not just a safe rider, but also a secure one.

With Quickinsure, insure your bike online and get the policy instantly!

Sources: IRDAI,, Economic Times,,,,, Bajaj Allianz, Reliance General, Bharti Axa, Tata AIG,, and multiple other information channels.

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