A No Claim Bonus (NCB) is a discount on the own damage premium that you may earn for completing a policy year without making an own damage claim. It does not apply to the third-party insurance premium. This means the No Claim Bonus in bike insurance can help reduce the own damage portion of the renewal premium, subject to the applicable policy terms.

The discount increases with every consecutive claim-free year. It typically starts at 20% after the first claim-free year and can go up to 50% after five consecutive claim-free years. As your NCB grows, so do your potential savings, making it worthwhile to maintain a claim-free record whenever possible.

The table below shows the applicable NCB rates based on consecutive claim-free years:

To understand NCB calculation for bike insurance, let's look at a simple example. Suppose your own damage premium is ₹4,000 and you've earned an NCB of 25%. In this case, you'll receive a discount of ₹1,000, reducing your own damage premium to ₹3,000 before taxes and other applicable charges. Remember, no claim bonus in bike insurance is calculated only on the own damage premium and not on the total bike insurance premium.

A no claim bonus in bike insurance offers more than just lower renewal premiums. Here are some of its key benefits:

• Lower Renewal Premiums: Every claim-free policy year earns you a discount on your own damage premium, helping reduce your renewal cost.
• Rewards a Claim-Free Record: Consecutive claim-free policy periods can help you accumulate a higher NCB.
• Long-Term Savings: As your NCB increases over consecutive claim-free years, the discount also grows, allowing you to save more over time.
• Transferable Benefit: Your NCB belongs to you, not your bike. It can usually be transferred when you switch insurers or purchase a new bike, subject to the insurer's terms and conditions.

An NCB Protection Cover in bike insurance helps you retain your existing No Claim Bonus after one admissible own-damage claim during the policy period, subject to the applicable terms and conditions.

It helps you:

• Retain your existing NCB after one eligible own-damage claim during the policy period.
• Continue with the same NCB rate at renewal that you were eligible for before the claim. Preserve the accumulated NCB benefit at renewal, provided the applicable conditions of the cover are met.

When May NCB Protection Not Apply?

The NCB Protection benefit is subject to the terms and conditions of the policy. It may not apply in situations such as:

• More than one admissible own-damage claim is made during the policy period.
• The policy is not renewed with the same insurer.
• The insured vehicle is not repaired at an authorised garage, as required under the motor insurance policy terms.

Note: Policyholders should review the applicable policy wording to understand the specific conditions of the NCB Protection Cover.

A no claim bonus in bike insurance rewards you for maintaining a claim-free record by reducing your own damage renewal premium. Over the years, this discount can add up to substantial savings, making it a way to lower your bike insurance costs while continuing to enjoy the protection offered by your policy.

The NCB Protection Cover is available to eligible policyholders who opt for the add-on* while purchasing or renewing an eligible two-wheeler insurance policy.

To avail of the benefits, the following conditions must be met:

• The NCB Protection add-on* must be opted for by paying an additional premium.
• To receive the NCB Protection benefit at renewal, the policy must be renewed with the same insurer.
• Only one eligible own-damage claim should be made during the policy period.
• The insured vehicle must be repaired at the insurer’s authorised garage.

Note: Eligibility requirements may vary between insurers, so it's advisable to check your policy terms before purchasing the add-on*.

NCB Protection is an optional add-on* available on payment of an additional premium. The applicable premium is specified as part of the policy and may depend on the insurer's underwriting and product terms.

Calculating NCB in bike insurance is fairly simple. The discount depends on the number of consecutive claim-free years you've completed.

For example, if you've maintained a claim-free record for three consecutive policy years, you may become eligible for a 35% discount on your own damage premium at renewal, subject to the applicable NCB slab.

If you're unsure about your eligible discount, you can use your insurer's online tools or contact customer support to check NCB in bike insurance before renewing your policy.

The higher your accumulated NCB, the greater the discount on your own damage premium. For example, a 50% NCB results in a 50% discount on the applicable own-damage premium. The discount does not apply to the third-party premium.

This is why maintaining a claim-free record can lead to meaningful savings over the life of your policy.

Adding or renewing the NCB Protection add-on* with SBI General Insurance is simple:

1. Visit the SBI General Insurance website or connect with an authorised representative.
2. Choose the NCB Protection Add-on* while purchasing or renewing your eligible two-wheeler insurance policy.
3. Review the applicable terms and conditions and complete the payment to activate the add-on*.

Once activated, the NCB Protection add-on* becomes part of your policy and helps you retain your No Claim Bonus after one eligible own-damage claim, subject to the policy terms and conditions.

To complete an NCB transfer, you may be asked to submit:

• Sale Letter: A sale letter records the transfer of the vehicle from the seller to the buyer and can serve as supporting proof of the change in ownership.
• Previous Year Policy (PYP): This refers to the insurance policy document issued by the previous insurer and provides details of the vehicle's earlier insurance coverage.
• Declaration Letter: A declaration letter may be required to confirm relevant details provided for the NCB transfer. The information submitted should be complete and accurate, as the insurer may verify it while processing the request.

Note: The exact document requirements may vary depending on the insurer.

Your NCB in bike insurance may not be available in certain situations, including:

• The policyholder makes an own damage claim without an eligible NCB Protection Cover.
• The policy is not renewed within 90 days of the expiry date of the previous policy.
• The policyholder does not meet the conditions required to retain or transfer your NCB.

Note: Since the applicable rules may differ across insurers, always refer to your policy terms for complete details.

Keep these points in mind before relying on your No Claim Bonus:

• NCB applies only to the own damage premium and not to the third-party insurance premium.
• An NCB Protection Cover is optional and available at an additional premium.
• Your NCB can usually be transferred when changing insurers or purchasing a new bike, subject to the insurer's terms and conditions.
• The applicable NCB percentage depends on the claim-free period and applicable policy terms.

Choosing SBI General Insurance for your bike insurance comes with several advantages:

• Smooth online policy purchase and renewal for added convenience.
• 24x7 customer support to assist you with your policy-related queries.
• A smooth claims process designed to make claim assistance easier.
• Access to 9,277 network garages across India for convenient repair support.
• The option to add an NCB Protection Cover** to eligible bike insurance policies, helping you retain your No Claim Bonus after eligible claims.

Note: **NCB Protection Cover is available on payment of an additional premium and is subject to the policy terms, conditions, exclusions, and availability. Please refer to the policy wording for complete details.

Maintaining a claim-free record not only reflects responsible riding but also helps you save on your bike insurance premium through the No Claim Bonus. By understanding the benefits of NCB in bike insurance and choosing an NCB Protection Cover if it suits your needs, you can maximise your savings while keeping your policy up to date.