As the Indian insurance market evolves, car owners are catching on. No-claim bonuses can save them big. Google News reported this on March 25, 2026, at 16:26:05 GMT.
SP Ravi Kumar, a leading insurance expert, says, “A no-claim bonus can be accumulated over time, and it can result in significant savings on premiums.” It’s straightforward: no claims, big discounts.
The concept is simple. For every year without a claim, car owners get a discount on their insurance premium. This can range from 20% to 50%, depending on the number of claim-free years. For instance, a ₹20,000 premium can drop to ₹12,000 after 3 claim-free years – that’s an ₹8,000 saving.
Several Indian insurance companies offer no-claim bonuses. Bharti AXA, HDFC ERGO, and ICICI Lombard provide comprehensive and third-party liability insurance policies. Bharti AXA’s policy, for example, offers a 50% no-claim bonus after 5 claim-free years.
To get this bonus, car owners must avoid making claims. No claims for minor damages like scratches or dents. They should renew their policies on time, too, or risk losing the bonus. And while accumulating a no-claim bonus is beneficial, it’s also essential to consider the benefits of making a claim – like after a major accident.
But what if a car owner sells their vehicle? The no-claim bonus can be transferred to the new owner, provided the policy is transferred within 90 days. This is a significant advantage, as the new owner can continue to accumulate the bonus.
For more information on car insurance and no-claim bonuses, readers can visit our finance news section. It’s essential for car owners to stay informed.
The no-claim bonus is a valuable benefit. By accumulating claim-free years, car owners can enjoy big discounts. That’s it.
With the right strategy, car owners can maximize their savings. They just need to be patient and smart about their insurance coverage. Don’t make minor claims. And don’t let your policy lapse. It’s worth the effort – you can save thousands.
