Find No Claim Bonus or No Claim Discount Insurance!
The car insurance with no claim bonus and no claim discount are two terms meaning the same thing. Accumulating a no claim discount can significantly reduce the cost of your car insurance cover.
For many years, the no claim bonus and no claim discount was seriously underrated and ignored when it came to car insurance. This was in the era in which everyone would simply renew their insurance with their existing company without getting quotes, regardless of how much money they could have saved by switching.
However, with the change in society attitudes these days, the majority of people are now visiting search and compare websites in order to get the best and cheapest deal possible. As a result, the no claim bonus and no claim discount has become an important tool in the fight against expensive insurance.
If you are fortunate enough never having to make a claim on your policy during the five consecutive years of your driving, then you will be eligible for your No Claim Bonus and and no claim discount. The insurance companies allow a discount on this type of claim (usually ranging from 50% to 70% off) from the insurance premiums. So it will suit your while searching for the best insurance deal
Either way, it is not costing them money and thus they actually reward you! A no claim bonus and and no claim discount is a reward because it may lower your premium by a significant percentage.
So do bear in mind not to make claim on relatively small items such as dents and scratches on your vehicle without establishing how much it would cost to repair. If the repairing cost for the damage to your vehicle is affordable for you, then do pay out of your own pocket. If you avoid making claim on comparatively minor items for five consecutive years, you will be successfully working towards your bonus.
Insurance companies will ask if you have a no claim bonus or and no claim discount from your previous insurer you need to prove your No claim Bonus and and no claim discount in the form of a renewal notice or a letter from your current Car Insurance company. If you have several years of No claim Bonus or and no claim discount but then make a claim, the Car Insurance company will usually apply it's rules of how much to knock back your No claim Bonus Years. when you switch to them. More and more companies are offering to reward a no claim bonus or and no claim discount, although some do insist on you having a certain amount of years no claim bonus and and no claim discount under your belt. These are often specialist insurers that offer significantly lower premiums then their competitors to individuals that they believe to be safe drivers.
But as it is with any motor insurance policy, the insurer may have exclusions and might limit the amount of claim that can offer this sort of protection. Should this be the case then the chances are that you might be in danger of losing your No claim Bonus and will be obliged to start working towards it all over again. Also remember that insurance companies, in order to keep the cost of insurances as low as possible, often have an excess clause (e.g. £100) in their policies. This would mean that you will be liable for the first £100/- of any claim from your own pocket. This clause has also been introduced so as to prevent claims for minor damages.
Additionally it is possible to 'insure' your no claim discount. You can do this with most UK car insurance companies and it works by adding no claim bonus protection to your insurance policy once you have achieved the maximum no claim discount. This allows you to make one claim (or more dependant upon the car insurance company) within a given period (two to five years) without losing your valuable 65% no claim discount. You can now appreciate how the no claim discount works for car insurance and see how much money you could save if you remain claim free.
For more details on your current car insurance company's particular no claim discount scheme contact them for more information.