Multiple choice

In India, 'No Claim Bonus' ranges from ______ to _______ on Own Damage premium.

  1. 20%, 30%

  2. 20%, 50%

  3. 10%, 50%

  4. 40%, 60%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

No Claim Bonus (NCB) is the benefit accrued to an insured for not making any claims during the previous policy period. As per current norms in India, it ranges from 20% on the Own Damage premium (and not on Liability premium) and progressively increases up to 50%.

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