You are probably a bike owner looking to renew your two-wheeler insurance. I’m sure you’ve seen the acronym NCB a ton before, but do you understand what is NCB in bike insurance and how it can save you money on your policy? NCB or No Claim Bonus is generally a reward for being a responsible rider. You can receive a discount on your premium of as high as 50%. In this blog, we will discuss the definition of NCB in bike insurance, the way it’s calculated, and how to maximize its value.
What is NCB in Bike Insurance?
To simply answer the popular question — what is NCB in bike insurance? — it means No Claim Bonus. It is a rebate granted by the insurance companies to policyholders for not making any insurance claims throughout the policy term.
The NCB full form in bike insurance is No Claim Bonus, and it’s awarded on comprehensive or own-damage bike insurance policies, not on third-party plans. It starts with a 20% discount in the first claim-free year and can go up to 50% over five consecutive years without claims.
So if you’re wondering what is IDV and NCB in bike insurance, here’s a quick breakdown:
- Insured Declared Value is the maximum claim amount you get if your bike is stolen or totaled.
- NCB is a discount on the premium for not claiming insurance during the previous policy term.
Understanding what is NCB in bike insurance is important because it’s a financial incentive that encourages safe driving and responsible usage.
How to Check NCB in Bike Insurance
If you’re not sure about your current NCB status, here’s how to check NCB in bike insurance easily:
1. Via Your Policy Document
Your current or previous policy papers usually mention the NCB percentage under the renewal section.
2. Visit the Insurance Company Website
Log in to your insurance account or use their mobile app to see the accumulated NCB.
3. Ask Customer Support
Contact your insurer’s customer support with your bike registration number to know how to check previous NCB in bike insurance.
4. Through IIB (Insurance Information Bureau)
Visit the IIB website and enter your vehicle details to retrieve past insurance data including your NCB history.
Knowing how to check NCB in bike insurance helps you track your discounts and avoid losing benefits when switching insurers.
Benefits of NCB in Bike Insurance
There are multiple advantages to maintaining a claim-free record and earning an NCB:
1. Premium Discounts
You get 20%–50% off on your renewal premium, saving a significant amount annually.
2. Reward for Safe Riding
By avoiding accidents and not filing minor claims, you build a safety record, which is rewarded financially.
3. Transferable
If you sell your bike and buy a new one or switch insurers, your NCB in bike insurance can be transferred.
4. Protects Long-Term Savings
The higher your NCB, the lower your future insurance costs — so it’s a cumulative reward system.
These benefits answer what is the meaning of NCB in bike insurance and why you should preserve it.
NCB vs Other Bike Insurance Discounts: What’s the Difference?
Generally, people get confused regarding the difference between NCB and other types of insurance that are available on bike insurance policies. Let’s clarify how NCB differs from other deals you might encounter while you buy or renew your insurance:
NCB (No Claim Bonus):
This type of discount is given for having a claim-free insurance period. In your first year, claim-free means that you are entitled to a discount of 20%, and if you have had no claim in 5 consecutive years, then the discount can be up to 50%. This is a premium for safe and responsible riding and is transferable if you buy a new bike or change insurers. To know what is NCB in insurance, read this article.
Voluntary Deductibles Discount
This discount is provided when you agree to pay a fixed portion of the claim amount from your pocket. The more your voluntary deductible is, the bigger the discount you can get on your premium. But do not forget that you will have to bear the agreed amount first in case of a claim.
Membership-Based Discounts:
If you belong to respectable automobile associations such as AAI (Automobile Association of India) or WIAA, some insurance companies offer a small discount on your premium. It is only a small benefit, as a member of an organized driving community dedicated to safe driving on the roads.
Anti-Theft Device Discount:
Having an ARAI-certified anti-theft device installed on your motorcycle reduces the chances of theft, and you may get a discount from insurance companies since it is an additional safety feature. Even though the discount is small, you are not only saving money but also achieving a safety precaution.
Long-Term Policy Discount:
You sometimes get a discount when buying a policy for 2 or 3 years at a time instead of renewing every year. It also shields you from premium increases for the length of the term.
So, while NCB rewards you for claim-free riding over time and offers the biggest long-term savings, other discounts are mostly one-time or conditional. That’s why knowing what is NCB in bike insurance and how it differs from these other discounts helps you maximize your total benefits.
Top Tips to Maximize Your NCB in Bike Insurance
Want to make sure your No Claim Bonus grows each year? Follow these expert tips.
1. Avoid Small Claims
If the repair cost is less than the NCB discount you’ll lose, pay out of pocket.
2. Renew On Time
Don’t let your policy lapse for over 90 days or you’ll lose your NCB.
3. Use the NCB Protector Add-on
This optional cover allows you to retain NCB even if you make one or more claims in a policy term.
4. Transfer Your NCB
When you buy a new bike or switch insurers, ensure your NCB in bike insurance is transferred properly.
5. Know Your Entitlement
Always understand how to check previous NCB in bike insurance before switching providers to ensure your records are accurate.
Frequently Asked Questions (FAQ’s)
1. What are IDV and NCB in bike insurance?
IDV is the market value of your bike, which is applied while calculating the sum insured. NCB is the reward-based discount for being claim-free.
2. How to check NCB in Bike Insurance?
You can find NCB through policy documents on the website of the insurer, or by contacting the customer support team with all the vehicle details.
3. Can NCB be transferred to a new bike?
Yes, NCB is linked to the policyholder, not the vehicle, and can be transferred to your new bike or a new insurance provider.
4. What is the NCB full form in bike insurance?
The full form of NCB in bike insurance is No Claim Bonus.
5. Does NCB apply to third-party insurance?
No, NCB applies only to comprehensive and own-damage bike insurance, not to mandatory third-party plans.
6. How to check previous NCB in bike insurance?
You can check it using past insurance papers, insurer customer service, or the IIB (Insurance Information Bureau) portal.