Secure Your No Claim Bonus: Twinkle Jain's Guide to Keeping Your Discounts

Your No Claim Bonus (NCB) is a very valuable reward for being a responsible driver. It can slash your car insurance premium by 20-50%, saving you thousands. But did you know that this benefit vanishes if you fail to renew your policy within 90 days of its expiry? Twinkle Jain thoroughly explains how a small mistake can cost you big and offers tips to keep your NCB intact.

What is a No Claim Bonus (NCB)?-

NCB is a discount offered to policyholders who don't file claims during their car insurance term. It's a reward for cautious driving and can significantly reduce your premium. For example:

After one claim-free year, you might get a 20% discount.
With consecutive claim-free years, this can increase up to 50%.

What Happens If You Miss the Renewal Deadline?-

If you don't renew your car insurance within 90 days of expiration, your NCB resets to zero. Let's take an example from Twinkle Jain's story:

Her father maintained a claim-free year, earning a ₹5,000 discount on his premium.
Unfortunately, he missed renewing the policy on time, losing the NCB and paying ₹15,000 instead of ₹10,000.
This simple oversight turned a cost-saving reward into a financial burden.

How to Protect Your NCB-

Renew On Time:

Set reminders or enable auto-renewal for your insurance policy.
Ensure renewal happens before the 90-day grace period ends.

Avoid Small Claims:

Skip filing claims for minor damages; repair out of pocket instead.
This ensures your NCB accumulates, leading to bigger savings.

Choose Long-Term Policies:

Opt for multi-year insurance plans to avoid frequent renewals and reduce missed deadlines risks.

Track Your Insurance Details:

Keep your policy documents handy and review your NCB benefits each year.

Why Renewing On Time Matters:

Timely renewals secure your NCB and prevent legal and financial penalties for uninsured vehicles. Staying proactive ensures lower premiums and uninterrupted insurance coverage.

Final Thoughts-

Twinkle Jain stresses that your NCB is a hard-earned reward that's worth safeguarding. Renew your car insurance on time, avoid unnecessary claims, and enjoy the financial benefits year after year.

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