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What is "No Claim Bonus"?

As it is clear from the term "No Claim Bonus", it is a discount in premium amount depending upon your claim experience. A certain percentage of discount is given in the premium where there is no claim in the previous policy. At each renewal the percentage of discount increases and limited up to 65%. The no claim discount will be allowed provided a fresh policy is obtained within 90 days of the expiry of the previous policy.