No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
No-Claim Discount (NCD) or No-Claim Bonus (NCB)
If you have not made any claim for at least one year, you are entitled to a No-Claim Discount
(NCD) when you renew your insurance. The awarding of NCD is an industry standard practice,
which means all Insurers in Singapore have this discount for clients not making a claim. NCD
can be transfer to another insurance company in the event that you wish to switch company. It
is also transferable to parent / child / spouse.
Your NCD increases by 10 per cent for every year without claim. This means there shouldn't be
any own damage (OD) claims / any other claims against you. Claims against another driver
would not affect your record. It
also means that after five years of zero own damage claims, it is possible to enjoy an NCD of 50
per cent, which effectively halves your motor premium in the following year.
Note: The No Claim Discount from your country is taken into consideration when you get
insurance here. Do take with you a certificate of NCD from your insurance company and we can
use it for getting cheaper rates in Singapore.
This would enable you to enjoy a discount (NCD) off the premium, ranging from 10 - 50 %. (see
table below)
Private car policies
Number of years with no claim
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No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
Discount on renewal
1st year
10%
2nd year
20%
3rd year
30%
4th year
40%
5th year
50% (max)
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No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
Commercial Vehicles policies
Number of years with no claim
Discount on renewal
1st year
10%
2nd year
20% (max)
No Claim Discount
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No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
Reduced No Claim Discount
1 Claim Made
> 2 Claims Made
50%
20%
0%
40%
10%
0%
30-10%
0%
4/7
No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
0%
No-Claim Discount (NCD) Protector
The No Claim Discount (NCD) Protector is an extension of your car insurance policy. It protects
your NCD status by allowing you to make a claim under your policy without losing their
entitlement for NCD (%) status. Your 50% NCD will be protected for the first claim in the policy
year with additional premiums.
This benefit is only available to you if your NCD is 50% in most of the cases.
The table below shows how the NCD Protector affects your NCD (%) if you have made claims
within the policy period:
No of Claims
Reduced NCD with Protector
50%
5/7
No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
1 Claim Made
50%
2 Claims Made
20%
3 Claims Made
0%
For example, if you have an NCD of 50% and have made one claim, your NCD will drop to 20%.
The NCD protector will allow you to maintain your NCD at 50% upon your next motor insurance
renewal.
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No Claim Discount and No Claim Bonus
Written by Car Insurance Specialist
Sunday, 16 August 2009 14:42 - Last Updated Sunday, 30 August 2009 12:01
7/7