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What is a No Claim Bonus (NCB)?
- No Claim Bonus (NCB) is provided by the insurer to the insureds who have not made any claims during the policy term
- NCB is applied on the Own Damage premium that the policy holder has to pay during the next policy term
- No Claim Bonus increases with each consecutive claim -free year, up to a maximum of 50%
- NCB can be transferred to a new insurance company when the policy holder switches insurers
- NCB can also be transferred to a new vehicle, provided the policy holder has sold the old vehicle and is purchasing a new one

Importance of No Claim Bonus
- Maintaining a NCB can be beneficial for policy holders in the long run, as the NCB percentage increases with every claim-free year
- It is also transferable when the policy holder sells the vehicle and purchases a new one. The NCB can be transferred by submitting a proof of the previous policy's NCB to the new insurance company
- It also reflects positively on the policy holder's driving record and can result in comparatively lesser premiums in the future
- NCB is transferable when the policy holder switches to a new vehicle or a new insurance company
Period of Shriram Car Insurance | No Claim Bonus Percentage |
---|---|
No claim made during the preceding full year of Shriram Car Insurance | 20% |
No claim made during the preceding 2 consecutive years of Shriram Car Insurance | 25% |
No claim was made during the preceding 3 consecutive years of Shriram Car Insurance | 35% |
No claim made during the preceding 4 consecutive years of Shriram Car Insurance | 45% |
No claim made during the preceding 5 consecutive years of Shriram Car Insurance | 50% |
Frequently Asked Questions
What is a No Claim Bonus (NCB) in Car Insurance?

No, Comprehensive Car Insurance is not mandatory. However, Third-Party Car Insurance is mandatory by law.
What is a NCB Certificate?

The insurance company issues an NCB certificate to the policy holder at the time of policy renewal, indicating the NCB percentage. The certificate should be retained by the policy holder and submitted to the new insurance company during policy transfer or renewal
What is the validity of the NCB?

Yes. Please use an online premium calculator for an estimate. The cost of your Shriram Car Insurance depends on factors like your car's make, model, year, Insured Declared Value (IDV), type of insurance, and any additional features you select. These factors are considered to determine your car insurance premium.