NCB is the short form of No Claim Bonus; it is rewarded to the owner of the vehicle who is also the policy holder for No Claim / Claims in the previous policy year. It can be accumulated over a period of time.

If you have NCB you can avail a discount ranging from 20-50% on the Own Damage Premium.

NCB rewards you for being a good driver and helps you save on your motor insurance premium. The chart here illustrates the discount on Own Damage Premium on account of no claims for 6 consecutive years.

Please note

• NCB becomes Nil in case of a claim
• NCB follows the fortune of the customer and not the vehicle
• NCB can be transferred to the new vehicle in case of substitution of vehicle of the same class
• Validity - 90 days from the date of expiry of the policy
• NCB can be utilized within 3 years (where the existing vehicle is sold and a new vehicle is purchased)
• NCB recovery can be done in case of a name transfer

An endorsement is a written evidence of an agreed change to your policy. It is a document that incorporates changes in the terms of the policy. Any changes or alterations that you need to make can be done by way of an endorsement.

An endorsement may be issued at the time of issuing the policy to provide additional benefits and cover (e.g. legal liability to driver) or to impose restrictions (e.g. accidental damage deductible).

The wordings of those endorsements are provided by the insurance company. An endorsement may also be issued subsequently to record changes such as change of address, change of name, change of vehicle etc.