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Benefits of No Claim Bonus On Car Insurance


Sometimes your precautions can save you a lot of money and can earn you huge amounts. In the insurance sector, this holds true. If you take precautions while driving and you do not suffer through any losses so your policy goes ahead without claims. If you do not claim your insurance for some specific duration of time of your policy, then you are eligible for a bonus amount as well as discounts if you renew your policy due to any condition.

Benefits Of No Claim Bonus

  • The benefit to insured and, not vehicle: It is associated with the insured and not the vehicle. In case you upgrade to a new vehicle then you can transfer this bonus and discount to your new car insurance. You can even transfer it in case you purchase a new vehicle policy with a different insurance company.
  • Transfer of bonus: In case you wish to shift to a new insurance company then you can transfer this bonus amount and discounts to your new policy. You will need to submit proofs regarding your no claims in the past years of the policy period.
  • During an accident or loss of vehicle: In case you meet with an accident or you lost your vehicle, then you are still eligible for no claim bonus if you do not claim the losses. You do not have to start from scratch when buying another vehicle.
  • Discount on the renewal of policy: This bonus and discounts can only be availed at the time of renewal of policy and not when you opt for the insurance for the first time. If you do not claim any expenses during your first insurance, then you are given a bonus and discount on premium while you opt for new or renewal of the policy.
  • Mirrored policy: In the duration of your policy period, if you have already claimed this benefit for your vehicle used for personal purpose, and now you plan to take a new vehicle for business and other commercial purposes then you are eligible to claim it again in case you do not make claims for the entire post bonus period.

Conditions For No Claim Bonus

  • No third party cover: You are eligible for bonus and discounts only on your own damage premium and not on third party liability premium cover. The third-party liability is 15 to 20% of the total premium so you will only be given a bonus on the rest 75 to 80% of your premium amount.
  • Proof documents: All the documents stating our policy duration is mandatorily required. You should be in the policy for a continuous period and not in breaks. In case you are not holding the policy for two or more than two years then you are not eligible to claim it and needs to start the policy again from scratch.

How Bharti AXA GI Helps?

Bharti AXA GI provides bonus and discounts in case you fulfil the eligibility criteria for ‘No Claim Bonus Policy’ on your car insurance claim. The percentage is based on the following criteria:

  • One claim free year- 20%
  • Two claims free year- 25%
  • Three claims free year- 35%
  • Four claims free year- 45%
  • Five claims free year- 50%

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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