All you want to know about... MOTOR INSURANCE

E-Cover Note > Motor Insurance Renewal ANYTIME, ANYWHERE! Contact/SMS: 012-6597262 or kooagency@yahoo.com

NCD (NO CLAIMS DISCOUNT)

1. What is NCD?

NCD or No Claims Discount, a.k.a. NCB or No Claims Bonus, is a discount allowed in accordance with the following Scales and Rules calculated on the net renewal premium for such part of the insurance as is renewed in respect of each vehicle:

  1. which has been insured for a period specified below, AND

  2. in respect of which NO CLAIM is pending or has been made during such period.

2. How much NCD are you entitled to?

PRIVATE CARS

Discount
No claim made or pending during the preceding year of insurance 25%
No claim made or pending during the preceding 2 consecutive years of insurance 30%
No claim made or pending during the preceding 3 consecutive years of insurance 38.33%
No claim made or pending during the preceding 4 consecutive years of insurance 45%
No claim made or pending during the preceding 5 or more consecutive years of insurance 55%

ALL OTHER VEHICLES (Commercial Vehicles & Motorcycle)

Discount
No claim made or pending during the preceding year of insurance 15%
No claim made or pending during the preceding 2 consecutive years of insurance 20%
No claim made or pending during the preceding 3 or more consecutive years of insurance 25%

MOTOR TRADE (Vehicle Trade Plate)

Discount
No claim made or pending during the preceding year of insurance 25%
No claim made or pending during the preceding 2 consecutive years of insurance 30%
No claim made or pending during the preceding 3 or more consecutive years of insurance 38.33%

HIRE CARS (Car-For-Rent vehicles)

Discount
No claim made or pending during the preceding year of insurance 25%
No claim made or pending during the preceding 2 consecutive years of insurance 30%
No claim made or pending during the preceding 3 or more consecutive years of insurance 45%

3. How to transfer NCD?  Is it troublesome?

NCD can be easily transferred from one insurance company to another or from one vehicle to another, provided that the name of the policyholder remains the same.  NCD, however cannot be transferred from one person to another person's name.

Now, transferring and deduction of NCD is virtually hassle-free!  Just provide your original copy of  the latest Motor Insurance Renewal Notice by your insurer or the original copy of the previous Certificate of Insurance or the original copy of the previous Cover Note to an authorised agent and you will get ON-THE-SPOT NCD deduction!


| Return to contents


This is USJatyourservice, Service At Its Best! provided by kooagency

Home ] Up ]

Call our Mobile Service Line 012-6597262 for an appointment!

or if you prefer, you may e-mail us at kooagency@yahoo.com

@ kooagency web services since Aug 2000