23

April 2017

No claim discount

 

Dear Customers،

Alrajhi Takaful is pleased to apply a no claim discount up to 30% for those vehicles insurance that do not have previous claims.

 

1. What are the minimum Pricing factors?

  • Driver Age
  • Vehicle Age
  • Address of Policyholder (Location)
  • Make & Model of the vehicle

What is a no-claims discount?

  • A no-claims discount (NCD) is a discount you receive on your Car Insurance premium for every claim free year.
  • The more years you remain claim-free, the lower your premium. The discount is typically capped at a certain number of years (currently 3 years).
  • This discount is for Retail and SME customers, so applicable only in our Motor Retail Portal as well on line business.

NCD rating

  • The NCD benefit is applicable for a maximum of 3 year claim-free driving.
  • NCD level will be recalculated at every renewal, it will reduce one level if no claims (i.e. from level 1 to level 2) and vice versa.
    • NCD LevelDiscount - Loading# of Years with No Claim
    0Base PremiumReported Claims in the last 12 months
    115% Discount1 year free Claims
    222.5% Discount2 years free Claims
    330% discount3 years free Claim

Who is eligible for NCD?

  • The vehicle owner is eligible for NCD. If the Owner has two vehicles, each vehicle will have its own NCD.

Renewals. How can I get my NCD certificate in order to insure my vehicle?

  • A PDF NCD certificate will be sent to your email address 30 days prior to your policy expiry.
  • You can print NCD from ART web sale page or You can ask ART Branch to get NCD print.
  • Upon request we will provide NCD certificate maximum within 3 working days.

New Business. How can I get my NCD certificate in order to insure my vehicle?

  • If your ID # is 1 or 2 Series, Najm has developed a NCD service that provides automatically your NCD level to all Insurers, so no need to provide the NCD proof. However, if your ID # is a 7 Series, you will have to provide your NCD proof

Is NCD is applicable on Add on Covers?

  • No, NCD is applicable on Basic Rate/Premium

What happens to my NCD if I make a claim?

  • Each time you make a claim, your NCD will be re calculated at the renewal

In what circumstance I will lose NCD?

  • Theft and Fire loss, Insured always lose NCD regardless of liability

In what circumstance I will not lose NCD?

  • The accident was not your fault
  • The damage was caused by bad weather (Flood or Nat Cat Loss)

For NCD, is the claims history of the Insured vehicle captured?

  • Yes regardless who drives the insured vehicle.

What if I change my email address?

  • In such a case you need to intimate insurer your new email address.

Will the Insurance Company validate my NCD?

  • Yes with Najm data base

Can I transfer my no claim discount?

  • No, it is not transferrable, it belongs to the vehicle owner.
 
 

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