No Claim Bonus

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Category: South Africa / Insurance / Short Term Insurance / No Claim Bonus

No Claim Bonus

This is a bonus that you receive as a percentage discount on your premium after a year with no claims. It is also referred to as claim free group.

If you do claim, you lose your no claim bonus and your premium increases. This usually occurs on the renewal date of the policy, but can be effective the month after the date of loss.

Also see:

Household Insurance

Personal Legal Liability

Extended Personal Legal Liability

Insurable Interest

Knock-for-Knock Agreement

Market Value of Vehicles

Pro Rata Premium

Under Insurance

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Transfer your Home Loan

Rates from Prime - 2.25%

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