A no-claims discount, or no-claims bonus (NCB), relates to the number of years you have not made a claim on your car insurance policy. For every year you have insurance without making a claim, you add to your NCB. Some insurers offer accelerated policies, meaning you can earn a bonus in 10 months rather than 12. If you have never made a claim on your car insurance, read on to discover more about the policies available for you.
If you are eligible for no-claims car insurance policies, you can save a considerable amount of money. Of course, the longer you have gone without making a claim, the greater the savings you can make. Generally speaking, an NCB of five years or more will result in a significant discount on your premium.
• If I claim, do I lose my NCB? Yes, in most cases you will lose some or all your no-claims bonus. Some insurers will protect your no-claims bonus if you have not been at fault, and you prove that this is the case.
• If I switch my car or insurance policy, what happens to my NCB? You will be able to transfer your NCB to another vehicle. If you switch your no-claims car insurance policy before the year is up, you will lose out on your NCB for that year. Please note that you cannot use your no-claims bonus on more than one vehicle.
• Can named drivers build up NCB? Usually, named drivers cannot build up their NCB. This is because the claim-free history supports the main driver’s good driving record.
As you can see, you can save a large amount of money by taking out no-claims car insurance. Yet, some insurers offer bigger discounts than others. This is why using our comparison service is a must. Fill in your details on our website and we will present you with all of the policies available.