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Customer RatingsNo Claim Bonus in Two-Wheeler Insurance
How would you feel if you were rewarded for maintaining safety on the road? Will it not be great to save on your premium while renewing or while purchasing a new Royal Enfield or a Harley Davidson? No wonder no claim bonus in bike insurance has become a crucial part of a comprehensive two-wheeler policy.
What “big billion days” sale on an e-commerce site, is to women, NCB for bike insurance is to men. You guessed it right. It is nothing but a flat discount on your bike insurance renewal premium if there are no claims made in the preceding years during the policy term.
The percentage though varies with the number of years, it is an assured saving that encourages your overall safety on and off the road. Expenses for repair costs and inflation can burn a hole in your pocket in terms of inflated premiums. NCB percentage in bike insurance can definitely help to ease out the diameter of the hole.
Funny as it sounds but in reality this can be a game-changer for anyone who loves and dreams of high-end bikes. So jumpstart your two-wheeler journey with HDFC ERGO comprehensive bike insurance policy as it definitely pays to be safe.
Features of No Claim Bonus in Two Wheeler Insurance
Some major features of no claim bonus for bike insurance can be conveniently listed below:
| Features | Details |
| Eligibility | You become eligible for a full no-claim bonus for two-wheeler insurance only if there have been no insurance claims against damages for the previous policy years. |
| Availability on policy | Only a comprehensive two-wheeler policy will have the benefit of no claim bonus in bike insurance. This facility is unavailable in a third-party plan. |
| Add on Benefit | HDFC ERGO comprehensive bike insurance policy offers the choice of no-claim bonus protection as an add-on benefit to the main policy. |
| Transferable | Though no claim bonus in bike insurance is calculated on the two-wheeler, it is a benefit given to the policyholder and hence can be transferred while purchasing a new vehicle or switching to a new insurer. |
| Discount on Premium | As the insured declared value (IDV) decreases and repair cost increases with the age of the vehicle, the premium also tends to increase at par with inflation. The NCB percentage in bike insurance ensures easing this financial burden to an extent. |
| NCB for Single-Year Coverage | For annual policies, NCB for bike insurance becomes nil once you file a claim, even if you have not claimed for the past few years. The eligibility is negated while renewal. |
| NCB for Multi-Year Plans | For a three or five-year term policy, it begins with 40-50 % NCB upfront and then is reduced as you claim. |
| Tenure of NCB | No claim bonus in bike insurance can be terminated if a claim is made as per the terms and conditions. It can also be discontinued if renewal of the policy is not done within 90 days from the policy expiry date. |
Benefits of No Claim Bonus in Two Wheeler Insurance
The benefits of NCB for bike insurance cannot be undermined keeping in view the current inflation rate. The consolidated benefits are given in the below table :
| Benefits | Details |
| Incentive for Safety | NCB for two-wheeler motivates bikers to refrain from rogue driving and ensure the safety of the vehicle, policyholder and others around. |
| Savings | No claim bonus in bike insurance is a method of saving on your renewal premiums by way of heavy discounts depending on the annual or multiyear plan chosen. |
| Purchase of new two-wheeler | NCB for bike insurance can be transferred while you are purchasing a new vehicle and the discount will apply to the new premium amount. It sure is an alluring benefit to those, who like to upgrade their two-wheeled commutes every few years. |
| Change of Insurer | Another fantastic advantage of the claim bonus in bike insurance is that you continue to enjoy its benefits even if you decide to change your insurer for better coverage at a lower premium. |
| Add on NCB protector | In HDFC ERGO comprehensive two-wheeler insurance, you can opt for an Add-on to protect no claim bonus on bike insurance coverage. This retains your NCB benefit despite making claims within the policy year. You can raise 2 claims without losing the accrued NCB. |
NCB Cover Inclusios & Exclusions
When you purchase bike insurance, our team will explain all the coverages on the plan to you. For your reference, here are the details of coverages offered under engine protection cover in bike insurance:
Lubricant Leakages
Engine cover insurance can be used in case the engine is damaged due to oil or other lubricants leaking.
Damages Due to Water
Water ingress can be a common problem in flood-prone areas. Water ingression can cause engine problems and it is covered under the plan.
Accident
Sometimes, accidents may cause physical damage to the engine, resulting in its malfunctioning. The plan covers such damage.
Failure of the Engine
Engine failure is also covered under the add-on cover of engine protection. It may happen due to forcing a wet engine to start, resulting in engine damage.
An insurance plan is designed to bring maximum benefit to the policyholder and the insured. However, not everything can be covered under a plan or an add-on cover like an engine protection cover bike. These are termed exclusions of the plan. The list below mentions the exclusions of the engine cover add-on:
Wear and Tear
The general wear and tear affecting the performance of the bike's engine is not covered under the plan.
Intoxicated Driver
If the driver is found to be driving the vehicle under the influence of alcohol, drugs, or any illegal intoxicant, the claim will be rejected.
Lack of Licence
A claim can only be filed if the bike driver had a valid driver's licence. A lack of a valid licence directly leads to claim rejection.
An Inactive Insurance
To raise a claim, the policyholder must have valid and active insurance along with an active cover of engine protection cover for bikes. If the policy is not renewed, the claim will be rejected.
Delay in the Claim Process
As soon as there is a need for engine repair, the policyholder must inform the insurer about the same. Delay in intimating the insurer or getting the bike repaired without intimating the insurer may affect the claim process or even reject the same.
Cover Under Manufacturer's Warranty
A new bike's engine is usually covered under the manufacturer's warranty. In such a case, the insurance company will not cover the cost of engine repair. However, if the warranty period is over, an insurance claim can be raised.
Cost of Consumables
During the repair process, the engine may need to be flushed of consumables like lubricants and oil. The cost of this will not be covered under the insurance policy.
How Does No Claim Bonus Cover Work?
In simple terms, NCB for bike insurance is a discount that you receive on the renewal premium, if no claims are made during the previous policy year. It gets accumulated by default for every claim-free year and it can be as high as 50% of the payable premium amount of the comprehensive plan. But it is accrued over 5 claim-free years. There is no further enhancement post 5 years. Here we need to keep in mind that NCB in annual plans works differently.
However, there are certain tips to optimise this benefit. This is only available on your own damage component and not on the third-party cover. This cannot be shared between two different policies even with the same insurer. It is restricted to a single policy at a time.
It is pragmatic to not claim minor damages to your vehicle as lose out on a major discount on your premium. That way you tend to save more. For annual premiums, you can go for NCB Protect add-on cover to avail of NCB benefits even after a claim.
Continuity of policy is a must to avail of this benefit. Renewal premium must be paid within a period of 90 days from the last policy expiry date.
In case the claim is rejected for a certain reason, the NCB can continue subject to the terms and conditions of the agreement of the policy and insurer
How is NCB Calculated for Your Bike?
It is interesting to note that even while insuring your two-wheeler, a long-term, multi-year plan reaps more benefits with respect to no claim bonus in bike insurance policies. The below tables will clearly explain why:
| YEARS | NCB RATES (as Percentage of Premium) for Annual Plan |
| No Claims in the Preceding 1 year | 20% |
| No Claims in 2 Consecutive Years | 25% |
| No Claims in 3 Consecutive Years | 35% |
| No Claim in 4 Consecutive Years | 45% |
| No Claim in 5 Consecutive Years | 50% |
Even if a single claim is filed in a single year, all the accumulated no claim bonus in bike insurance becomes nil. This is not so in case you choose to buy a 3 or a 5-Year Plan. NCB can be obtained even if a claim is filed though reduced.
| Number of Claims in Years | NCB RATES (as Percentage of Premium) for Multi-Year Plan |
| No Claims in Policy Period | 30-35% |
| 1 claim in 1st year and No claims in 2 consecutive years | 25% |
| Single Claim in 2nd Year and No Claims After | 20% |
| A claim is filed in 3rd Year | 0% |
| More than a single claim filed during the entire policy tenure | 0% |
How Much Does No Claim Bonus Protection Add-on for Bike Insurance Cost in India?
No Claim Bonus protection add-on is an optional feature available in the comprehensive bike insurance policy. A small percentage of the premium is charged to offer this cover. But this has a long-term financial benefit for both annual and multi-year plans. The amount charged varies from insurer to insurer and the exact amount is best known from the bike insurance calculator. The calculator will help you make informed and sound decisions according to your budget and requirements.
Impact of NCB Discount On Premium Calculation
As you can see no claim bonus in bike insurance has a significant impact on the premium calculation. Since the percentage of benefits increases with each claim-free year, it is necessary that you keep track of it while renewing or transference. The premium will be appreciatively low once the NCB percentage is applied. In case you have maintained a safe driving record for consecutive three or five years, you can have a discount of up to 50% on your renewal premium and can go for a higher coverage with add-ons at a lower cost. In the case of annual policies, refrain from filing claims for small or petty damages. The price you pay for losing the NCB facility with an insignificant claim is much higher than the actual damage claim.
When is NCB cancelled/terminated/not available?
• There are certain conditions when the NCB you accrued so painstakingly can be considered null and void.
• If you file a claim in a policy year of two-wheeler insurance no claim bonus is cancelled or nullified.
• The continuity of your policy is also crucial while enjoying this benefit. So renew your policy on or before time. If a policy is not renewed within a tenure of 90 days of the date of expiry then no claim bonus facility is also withdrawn or nullified.
• The NCB percentage in bike insurance though is dependent on premium and the no of years, the benefit is attached to the policyholder or the vehicle owner. Hence this can be transferred, when you wish to change the insurer or when you are purchasing a new policy for a new bike, by the issuance of a simple NCB Transfer Certificate. Do ensure to apply for the certificate if you want to reap the benefits of your good driving. Or else the upfront discount offer will not be considered when the premium is calculated and your NCB benefit will be indirectly terminated.
• You need to have clarity in regards to policies in which NCB for two-wheelers is available. It is available with only its own damage claim policies and not third-party bike insurance. A comprehensive policy is the best to have if you are keen to go for a no-claim bonus in bike insurance.
• Also, this feature is not available for sharing between two different policies be it with the same insurer or not.
Can you protect your NCB?
The no claim bonus for bike insurance is rewarded only when you have a claim-free renewal. However, accidents are unpredictable and cannot be always prevented even if you manage to be ultra-careful on and off the road. Keeping this unavoidable issue in mind, HDFC ERGO offers an add-on cover of no-claim bonus protection, which helps you to continue enjoying the benefits of NCB, even if you need to file a claim. There are certain types of claims which are entertained under this cover:
• Damage to only Windshield Glass by any outside object.
• Damage by external means to a Parked vehicle
• Damage due to flood, earthquake, tornados or any Act Of God perils to a Parked vehicle.
NCB if the Vehicle is in an Accident or Stolen
• In case of accidents if the third party fault cannot be established the expenses are split equally and no claim bonus on bike insurance is impacted. The NCB is impacted based on the fact, that the insurer can recover the maximum expenses from the third party.
• In case of theft, since the insurer is unable to recover expenses from the third party, NCB is also at risk.
Terms and Conditions of No Claim Bonus Transfer
You need to abide by certain rules if you want a seamless transfer of your previous NCB bike insurance to your new policy:
• While buying a new two-wheeler or exchanging your old two-wheeler with a new one, remember to track your NCB and get the same transferred to your new policy of the same or different insurer.
• You can only transfer NCB if you are buying a new comprehensive policy and not a third-party insurance cover for your vehicle.
How to Transfer NCB to New Bike Insurance?
It is possible to transfer your accumulated no claim bonus in bike insurance to a new one as it is tied to the policy owner and not the bike. There are three easy steps which you can follow and complete the process:
1. Raise Transfer Request: Inform HDFC ERGO, by raising a request to transfer the NCB of your old two-wheeler insurance policy.
2. Obtain an NCB Transfer Certificate: HDFC ERGO will check the accrued NCB and policy status and issue an NCB Transfer Certificate post verification of your details.
3. Apply for a New Comprehensive Policy: Buy new two-wheeler insurance and submit the details of your previous NCB bike insurance. After some more verification, HDFC ERGO will transfer the required NCB.
Documents Required for Smooth Transfer
The mentioned documents are required to be submitted for a seamless transfer of NCB for bike insurance :
1. Policy document of an active and valid two-wheeler insurance policy which is obviously a comprehensive one.
2. A copy of the RC, i.e. the Registration Certificate of your existing bike.
3. Valid Photo ID proof of the policy owner.
How To Ensure You Do Not Lose NCB During Motor Insurance Policy Renewal?
For bike insurance, no claim bonus can be easily transferred during the renewal of a policy. You can either renew and continue with your existing insurer or go for better coverage with a new insurer. However, it is extremely important to renew the policy prior to its expiry. In case you miss the due date, ensure you renew the same within a period of 90 days of the expiry of the previous plan.
Follow these simple steps to renew your policy online with HDFC ERGO before expiry :
1. Visit HDFC ERGO website and then click on Bike Insurance Renewal
2. Enter your valid policy details and select Renew
3. Fill out the information requested and submit
4. Get an instant premium quote to select and proceed with payment online.
5. Once payment is done the policy details and documents are sent to you via your registered communication details.
How to Claim No Claim Bonus or NCB Policy for your bike?
The process becomes simpler when you are renewing your policy with the same insurer. The previous accrued NCB bike insurance is automatically applied while quoting a premium and the next renewed policy is issued accordingly.
If you are going for a change in insurer or wish to insure a newly purchased two-wheeler, then an NCB transfer certificate is required from the previous policy issuer along with the policy document. The discounts offered as NCB for two-wheelers will be accordingly applied while the calculation of the premium and issuance of the new policy.
As per IRDAI, a comprehensive insurance policy can offer you an NCB discount of a maximum of 50%, if you continue your policy claim-free for 5 years, for the annual two-wheeler plans.
Some Points about NCB that the Two-Wheeler Policyholder should Keep In Mind
There are a few important aspects of NCB that a policyholder must remember to maximise the benefits of this offer :
• This facility of no claim bonus in bike insurance is only available for own damage comprehensive policy and not on third party cover.
• This cannot be split amongst two policies even if it is from the same insurer. It applies to one policy at a time. It can also not be transferred to legal heirs or nominees on the death of the policyholder.
• If you feel the routes you ride are accident-prone or difficult, go for NCB Protect add-on coverage so that you do not miss out on the accumulated NCB even if you need to file a claim.
• In case you want to buy a new Bike after 3 years, your accrued NCB will be transferred to get an upfront discount on your new policy premium. However, if you are upgrading to a car, this NCB will not apply to your new car insurance.
• Try to avoid filing claims for petty damages or issues as you tend to lose out on a higher percentage of discount even for a small claim.
Who Should Get A No Claim Bonus Protect Cover?
Although all bikers are advised to go for this add-on to encourage safe riding, the NCB Protect cover in a two-wheeler policy should be a must for all who truly love riding safely and would like to preserve their vehicle. It is highly recommended for :
• All new bikers
• Bikers who believe that the no claim bonus in bike insurance is a fantastic way to save more while riding safely.
Other Two Wheeler Insurance Add-ons
Additional coverage increases both safety and support that a bike insurance can offer. Along with the engine protection cover for bikes, you may purchase various other add-ons as well. HDFC ERGO offers you the following add-ons:
Zero Depreciation Cover
Emergency Roadside Cover
No Claim Bonus Protect
Return to Invoice
Personal Accident Cover
Cash Allowance
Consumables Cost
EMI Protector
Emergency Medical Expenses
Two Wheeler Insurance Policy Documents
Precaution is better than cure. This is an old adage that can actually save you from unnecessary hassles not just in life but regarding your bike as well. A bike insurance is there to assist you in times of need. To avoid unnecessary damage to your bike and claims, you must take good care of your bike and its engine. Here are some tips on how you can maintain the engine of a two-wheeler:
Regular Inspection
Regular Servicing
Change of Lubricants
Pay Heed to the Warning Lights
Air Filter Replacement/Cleaning
Use of Recommended Parts Only
Do Not Overheat
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