no claim bonus - an overview
TRANSCRIPT
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NO CLAIM BONUSAN OVERVIEW
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Is your Vehicle Insurance turning out
to be expensive?
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Unless you run by a checklist & Compare…
You Won’t be able to…
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If you need your vehicle insurance to deliver full throttle…
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…Then you will need to go over your policy in great detail
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To avail Discounts…
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And save Big on Premium
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So How can I make the Most of my Vehicle Insurance?
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Compare on PolicyBoss.com
& Learn ways of saving on your premium…
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Did you know Insurance companies offer a “No Claim
Bonus”?
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Think of it as a reward for not claiming insurance on your
vehicle…
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NCB = No Claim Bonus
Bonus for every additional year where claim is not made*
Yr. 1 – 0%Yr. 2 – 20%Yr. 3 – 25%Yr. 4 – 35%Yr. 5 – 45%Yr. 6 – 50%
Vehicle depreciation assumed at 10% PA
* NCB varies for insurer to insurer
The above table shows the premium payable towards a Hyndai i10 costing Rs.4.6 lakhs (over a 6 year period) Scenario 1: When no claim is made and thus becoming eligible for NCB (as applicable)Scenario 2: When a claim is made each year.
Scenario 1 - With NCB
Scenario 2 - Without NCB
Year Value (in Rs.)
NCB % Premium** NCB% Premium**
Year 1 460,000 0 14,398 0 14,398Year 2 414,000 20 10,367 0 12,958Year 3 372,600 25 8,747 0 11,662Year 4 335,340 35 6,822 0 10,496Year 5 301,806 45 5,196 0 9,447Year 6 271,625 50 4,251 0 8,502** This is illustrative only, actual value may vary based on
various factors.
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Have you reached out to a consultant yet?
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Call us Toll Free: 1 800-419-419-1Email: [email protected]: www.policyboss.com
Disclaimer: Insurance is the subject matter of solicitation. Landmark Insurance Brokers Pvt. Ltd. | Certificate No : 216, IRDA License No : DB 089/03. (Valid Upto 12th Oct, 2018) CIN # U66030PN2002PTC017009
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THANK YOU