Its a term we hear once a year when we are due to renew your vehicle roadtax. What is NCD?
NCD, short for No Claim Discount, is a discount given to the policyholders upon renewal of their motor insurance if no claim is made or arises from the policy for a continuous coverage of 12 months. The discount given is based on a fixed rate provided by Persatuan Insurans Am Malaysia (PIAM) Motor Tariff.
| Period of Insurance |
Private Car |
Commercial Vechicle
|
| After 1st year |
0% |
0% |
| After 2nd year |
25% |
15% |
| After 3rd year |
30% |
20% |
| After 4th year |
38.33% |
25% |
| After 5th year |
45% |
25% |
| 5th year onwards |
55% |
25% |
When you are renewing your roadt ax make sure you pay attention to the amount of NCD you have because its something that you have earned thru the years.
Check your NCD entitlement HERE
Some Important FAQ’s below
(more…)