HomeNewsBusinessPersonal FinanceClaiming car insurance: Why you should avoid it unless it’s for a big damage

Claiming car insurance: Why you should avoid it unless it’s for a big damage

If you file a claim, you will lose the no-claim bonus (NCB), a discount on your premium at the next policy renewal. This will matter especially so if you have had many claim-free years. The NCB goes up from 20% to 50% as you go from one claim-free year to five such consecutive years

Maulik

July 25, 2023 / 13:04 IST

if you decide to sell your car, the buyer is likely to enquire about your claims record to gauge whether the car was run carefully in the past.

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