No Claim Certificate can be the gift to all policyholders who were sensible roadworthy drivers. These discounts can be avail on the premium at the time of renewal of your car insurance policy. It is like a reward which you get for not making any claim in a certain time period.
Even if you want to change your current insurance provider, all you need is the No Claim Certificate from your previous provider. It is one of the greatest ways to save money while renewing your policy.
Hence, in this article, we will tell you the ways how no claim certificate can lower your car insurance.
Saving your Investment by No Claim Certificate
It is not only one time that you can get a discount on your No Claim Certificate but you can get it every year.
- The more years you go by without making claims, the more discount you get. You can save up to 20% on your premium through the No Claim Certificate.
- UAE Insurance Authority has made a policy that any individual who has not made a claim from one to three years can get a discount of 10% to 20% on their premium.
- Some of the providers can even offer a 30% discount on the premium.
- There are some other factors that are also considered in this regard such as the individual’s age, history, occupation, etc.
Therefore more discount depends on how well a driver you are. If you have a satisfactory driving history, you will be able to get a high discount. This will in return lower your car insurance.
The Scenario after Claim
Even if you make a claim in the year leading up to the insurance renewal, you can still get a No Claim Discount.
As there is not any specific rule that has to be followed, the insurance companies are free to choose the discount percentage.
Therefore, be sure that you will get a discount. This is valid in the case in which you made a claim against an event that was unpredictable.
Is No Claim Certificate Transferable?
If you are wondering if your No Claim Certificate is transferable, then the answer is yes. But only in the case in which you are shifting your insurance provider. Thus, you cannot transfer it to another car owner.
You have to get the No Claim Certificate from your previous provider without any additional charges. These regulations have been set by the UAE Insurance Authority.
No Claims Discount Protection
By now you would have got the idea that No Claim Discount can help to lower your car insurance premium.
However, there is another feature that comes with this. It is the protection that you get with NCB. Due to this, you can make sure that you get a discount even after you make a claim in the coming years.
Although there are some limitations to getting a discount, you can still be protected. Every insurance company follows its own rules therefore you have to be familiar with the provider before choosing the right option.
However, this protection will not be valid if the accident was the mistake of the driver.
Therefore, you need to seek all the possibilities and be road a worthy driver.
Conclusion
No claim discount should be understood as a security claim you get when you drive safely and protect your surroundings.
It is the best approach is to get findings on NCB and get out reliable and suitable packages