How do No Claim Bonuses work?

[kflyer]

Hi,

I have a No Claim Bonus of 5+ years on my car and has been insured at the same insurer throughout that time. Recently another vehicle had brushed against mine whilst parked, resulting in some minor damages. If I make a claim on this, would I lose all of my No Claim Bonus (5 years = about Rs. 30k discount) or only a part of it?

The insurer is HNB and I have not subscribed to any special features relating to No Claim Bonus.

[kush]

If it is one small claim less than your annual premium they will not deduct. If the cost is just to paint you may be better off doing it out of pocket. When it is not from insurance you should be able to negotiate a discount from the garage.

Just give a call and clarify or your insurance agent will know.

 

 

[UZIWRLD]

If you want to know for sure how these things work, better call them and see what they say.

[mazdaspeed]

I believe each has their own method - I had over 10 years NCB and I had to put a claim during one year and the renewal rate increased by over 2000/- .

They later gave me a protection cover for a small additional amount  where I can go up to 2 minor claims with an issue, but I've now hit the maximum NCB value and it does not reduce any more