Will I continue to get no claim bonus if I change my insurer?
If the no claim bonus is due, generally the new insurer will pass the same benefit to you
My insurance company gives me no claim bonus every year when I renew my car insurance. Now I want to get car insurance from some other company. Will I still continue to get no claim bonus from the other company?
Devika Shetty, Mangalore
Car Insurance is normally done for a period of 12 months and has to be renewed every year. Generally when any person, who gets a motor insurance from an insurance company, does not make any claim for the entire year then at the time of renewal of the policy the insurance company gives no claim discount (bonus) to the policy holder. When you propose to get your policy renewed from an insurer other than your existing insurer, they will also check the past history if any claim was lodged by you in previous year(s) or not and the frequency of filing such claims, if any. Based on the information on record if the no claim bonus is due to you, generally they will pass the same benefit to which you would be entitled if you had renewed the policy with the existing insurer.