No Claim Bonus Explained: When Should You Claim Or Pay For Repairs Yourself?

No Claim Bonus, or NCB, can help reduce your own-damage car insurance premium when you do not make claims. Deepak Yohannan, Insurance Expert, explains that the discount can start at 20% after one claim-free year and increase over time, potentially reaching 50% after five consecutive claim-free years. However, making a claim can reset the accumulated bonus. This is why vehicle owners may consider paying for minor repairs themselves instead of making a small insurance claim. For major damage, using insurance can make more sense. Understanding the value of NCB can help car owners make better insurance decisions.