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Frequent Contributor
nik
Posts: 119
Registered: ‎31-03-2016

Why do your motor insurance premiums go up the year after a large claim?

Why do your motor insurance premiums go up the year after a large claim? 

Anuj Shergil
1 REPLY 1
Moderator
Moderator
akanksha
Posts: 21
Registered: ‎06-04-2016

Re: Why do your motor insurance premiums go up the year after a large claim?

Hello Nik,

 

We at HDFC ERGO do not link the increase in premium to the quantum of a claim. In motor insurance policies, the premium could go up after an own damage claim due to the loss of No Claim Bonus (NCB). NCB is a discount offered on own damage premium by insurance companies if the vehicle owner does not make claim during the term of the motor insurance policy.

 

Thanks

Akanksha