Insurance companies allow customers to share a portion of the risk associated with the policy. Known as the “deductible” or “excess”, this is a pre-determined amount of the claim that would be borne by the insured. So, when a claim arises, the insured would pay up this deductible amount from his pocket and the balance would be taken care of by the insurance company.
No Claim Bonus or popularly known as NCB, is a benefit that is given by insurers to policy holders for claim free policy years. Giving you a high saving of almost up to 65% on your renewal premiums, an NCB is a sure advantage, if utilized well. NCB in Detail- What’s in Store? No claim … Continue reading Motor Insurance No Claim Bonus- An Advantage to Policy Holders
A situation which probably most of us just wouldn’t want is a vehicle theft. It is not just the financial loss of having lost a vehicle, for most of us it is an emotional attachment too. The good news though is that if you have insured your vehicle, most parts of the financial loss could be overcome. The Indian law mandates all motor vehicle owners plying on Indian roads to have at least a third party insurance cover for damages or loss incurred to a third party on the road.