Work out own damage premium instantly with clear inputs, formula shown and shareable results.
Own damage premium is a percentage of IDV, discounted by the accumulated no-claim bonus which steps up from 20% to 50% over five claim-free years. Add-on covers such as zero depreciation and engine protection are priced separately and are not eligible for the NCB discount.
Base premium
Base = IDV x Own damage rate %
Premium payable
Premium = Base x (1 - No-claim bonus %) + Add-on premium
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
Typically 20% after one claim-free year, then 25%, 35%, 45% and 50%. A single claim usually resets it to zero.
Often not. Compare the claim amount with the NCB you would forfeit over the following years plus any deductible.