• How No Claim Bonus Works In A Multi-Year Bike Insurance Policy

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    Ever considered how No Claim Bonus (NCB) functions in long-term bike Insurance? If you are among the individuals who think it’s difficult to remember insurance renewal dates, probably you have purchased an annual insurance policy.

    People tend to forget the insurance renewal dates as they are engaged with their busy work schedule calendars, connections, companions, and other greater obligations. However, not renewing the insurance policy on time could be a major risk that you must avoid. With a multi year bike insurance policy, this risk can be avoided.

    Why Do You Need A Multi Year Insurance Policy

    The best thing about a long-term insurance is that you pay the premium only once for three years and get your vehicle covered for continues three years without needing to renew your insurance every year.

    How Does A No Claim Bonus Work In A Multi-Year Insurance Policy

    As you most likely are aware, No-Claim Bonus is a discount on premium that insurers offer policyholders if they have not made any claims on their policies in the preceding years.

    The following is the year by year structure of the NCB:

    NCB Structure For One-Year Policies NCB Earned
    After 1 claim free year 20%
    After 2 claim free year 25%
    After 3 claim free year 35%
    After 4 claim free year 45%
    After 5 claim free year 50%

    If you make a single claim in any of these years, the NCB will drops to a 0% if you have an annual insurance policy.

    In a multiyear bike insurance, the No-Claim Bonus can be availed till the validity of the policy regardless of whether a claim was made during the tenure of the policy. This implies that if you receive a NCB of 25%, you can avail it for all the three years.

    To Be Noted

    Every insurance agency have their own distinctive NCB structure that can change as far as a multiyear bike insurance is concerned. Along these lines, you should communicate your coverage requirements to the insurer and negotiate accordingly. You may also visit various third-party neutral insurance websites to compare the available products and choose the one that offers you maximum benefits.

    With a multiyear policy, whether you file a claim or not, you are qualified to get NCB when you renew your policy. In fact, you might be able to enjoy higher discounts in comparison to a single year policy.

    How No Claim Bonus Works In A Multi-Year Bike Insurance Policy Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Lombard Two Wheeler Insurance
      "Good Bike Insurance"
      0.5 4.0/5 "Great!"
      I've been using the ICICI Lombard bike Insurance for few years now and I'm happy about the annual premium I pay. Even though I never had any claim experience with them, I'm happy with their services. Their customer support is also good and helpful in case of any issue.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 24, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 3 years, i am happy with the coverage value of this insurance policy. They cover up to 60-70% and i am satisfied with it. I do not have claim experience so far with this insurance and i pay a premium of Rs 4000 for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • New India Two Wheeler Insurance
      " Two Wheeler Insurance with NEW INDIA"
      0.5 3.0/5 "Satisfactory"
      From NEW INDIA ASSURANCE i have taken a two wheeler insurance and the premium which i am paying was 1800. This policy have the accidental coverage for the bike and for the third party. There is no claim experience till now. The customer service was fine.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Icici two wheeler insurance service is good. The payments are through cash. I use to pay my premium yearly directly as a cash. They use to intimate regularly through Sms. I am paying 1k yearly as a premium. It was an good experience with Icici two wheeler insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Icici two wheeler insurance service is good. The payments are through online. Also the online portal is easy for navigation. The process was been fast with Icici two wheeler insurance service. It was an good experience with Icici two wheeler insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 23, 2018
    • Reliance General Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have an two wheeler insurance with Reliance. The documents process was been smooth with Reliance two wheeler insurance service. I use to pay my premium through online. It was a excellent service with Reliance Two Wheeler insurance for my Bajaj Pulsar 220 CC bike.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ ALLIANZ GENERAL INSURANCE i have taken a health insurance and the premium which i am paying was 13600. This policy have the accidental coverage for the bike and for the rider. There is no claim experience till now. The customer service and response was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 21, 2018
    • ICICI Lombard Two Wheeler Insurance
      "best card"
      0.5 5.0/5 "Blown Away!"
      I had a two wheeler insurance policy in ICICI LOMBARD GENERAL INSURANCE. Since now i did not faced any issue like online transactions while am renewing the insurance. I feel very comfortable. I can recommend this ICICI LOMBARD GENERAL INSURANCE two wheeler insurance policy to my friends.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • HDFC Ergo Two Wheeler Insurance
      "good experience"
      0.5 4.0/5 "Great!"
      I had a two wheeler insurance in the prestigious insurer IE: HDFC ERGO GENERAL INSURANCE. I can say it is a one of the best insurance which i had . Mostly all plan benefits will cover under this policy. I can use their website to check the quotes and to renewal the two wheeler insurance policy on time. I recommend their services for my friends.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • Oriental Insurance Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler insurance with Oriental Insurance from last 7 years, i do not have any claim experience so far with this insurance policy. The coverage value of this insurance policy is 60-70% and i am satisfied with it. I pay a premium of Rs 1200 every year for this insurance.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 20, 2018
    • New India Two Wheeler Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company NEW INDIA ASSURANCE along with my vehicle. My annual premium is very reasonable by comparing with other insurance products and it is a Five year old policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 20, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I insured my two wheeler from the ICICI LOMBARD GENERAL INSURANCE company . I have recently renewed this policy for the second time. I have paid Rs,1200 to renew this two wheeler insurance policy from the ICICI Lombard. They give intimations to renew the policy on time which is very helpful from the ICICI LOMBARD GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • United India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with United India Insurance from last 2 years, i do not have claim experience so far with this insurance. I am happy with the coverage value of this insurance policy. A premium of Rs 800-900 has to be paid for this insurance policy.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Apr 19, 2018
    • ICICI Lombard Two Wheeler Insurance
      "best policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company ICICI LOMBARD GENERAL INSURANCE. My annual premium is very reasonable by comparing with other insurance products which is 1900/-. . I can prefer online to renew my two wheeler insurance policy with in the due date. I had bought this two wheeler insurance policy along with my vehicle.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 18, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I have my two wheeler insured with New India Assurance 1 year back, i am happy with the coverage value of this insurance policy. I did not claim anything so far from this insurance policy. A premium of Rs 1200 has to be paid for this two wheeler insurance.
      Was this review helpful? 0
      , noida
      Reviewed on Apr 18, 2018
    • Liberty Videocon Two Wheeler Insurance
      "better experience"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the public sector insurance company LIBERTY VIDEOCON GENERAL INSURANCE. My annual premium amount is quite high by comparing with other premiums. I did not received my policy document by mail and hard copy too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
    • HDFC Ergo Two Wheeler Insurance
      "best policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the public sector insurance company HDFC ERGO GENERAL INSURANCE. My annual premium amount is Rs. 4000/- which is very reasonable by comparing with other premiums. I had received my policy document by mail.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
    • National Insurance Two Wheeler Insurance
      "best policy"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the public sector insurance company NATIONAL INSURANCE. My annual premium amount is Rs. 1600/- which is very reasonable by comparing with other premiums. I had received my policy document by mail.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 18, 2018
    • ICICI Lombard Two Wheeler Insurance
      "good policy"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company ICICI LOMBARD GENERAL INSURANCE. My annual premium amount is very reasonable by comparing with other premiums. I had received my policy document to my registered communication address.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 18, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Average service"
      0.5 2.0/5 "Expected more"
      I have got the two wheeler insurance policy from the IFFCO TOKIO around 2 years ago. I have paid Rs, 1800 to get this policy from the Iffco tokio and this policy has the tenure of 2years. The customer support service and the response is good here, and they won't give the intimations to renew the policy on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
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