If you have been with the same insurance company, then there is a good chance you have saved up a no claim bonus worth hundreds of dollars. A no claim bonus is a benefit that is given to policyholders that have not made any claims in a certain amount of time. If you are thinking of changing auto insurance companies, then you may wonder if your NCB is something that can be transferred to another company in Burlington, North Carolina.
Can a NCB Ever Be Transferred to Insurance Company?
· This is a reward based incentive given to people that do not make any claims on their insurance policy. NCB’s are usually provided by companies to reward their own policyholders.
· People who earn no claim bonuses are less of a risk to the insurance company. If you end up getting a new car and put it in the policy, then your NCB may transfer over to the new car.
· No claim bonuses are people specific meaning that it is yours and can not be transferred to another person. It belongs to the person that owns the auto policy.
· If you are looking to switch auto insurance companies, then you will find that the NCB is usually not transferred to the other company. You will have to build your reputation with the new company in order to take advantage of any NCB’s they may offer.
If you are looking to change auto insurance companies or have any questions about your current policy, then feel free to give a call and speak with one of our independent agents today. As your agent we can answer all of your questions. We can help get you the information you need to make the best decision regarding your insurance needs.