Can a no claims bonus can help bring down your car insurance premium?

12 September 2013 - Which Way To Pay

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Car Insurance: What you need to know about your no claims bonus

With the rising cost of car insurance year on year, a decent no claims bonus can really help to bring your car insurance down and make it more affordable. But what actually is a no claim bonus when it comes to vehicle insurance and how can it help me?

What is a vehicle insurance no claim bonus?

A no claims bonus is usually a discount on your premiums if you have not made a claim on your insurance during your policy year. Every year that you are insured and you do not make a claim, you will earn extra year's worth of no claims discount which can make a big difference to the price you will have to pay. The longer you are insured and the longer you do not make a claim on your vehicle insurance the higher the discount.

Do car insurance companies check your no claims?

In a word, YES. Your car insurance company does normally ask to see proof of your no claim bonus before they apply a discount to your policy. At the very least they will ask for details of your previous insurer and your policy so they can check themselves.

Do I lose my no claims bonus if I claim on my insurance?

In the majority of cases you will lose your no claims discount if you make a claim on your vehicle insurance, however, if you have protected your no claims then you could potentially be able to keep it. Remember, repairing your windscreen (small chips or cracks) should affect your no claims discount if you use an approved windscreen repair service.

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