How much cheaper does no claims bonus save you?

The longer you go without making a claim, the bigger the discount you should be offered, up to a certain point. So while you might be given a 10\% discount after one year with no claims, driving claims free for five years could mean saving 50\% or more on your premiums.

How many years no claims discount do I need to earn to protect it?

Normally you need to have at least five years No Claims Discount to qualify for No Claims Protection, however we have three insurers who do offer this benefit on a lower amount of No Claims Discount.

What is NCD protection in car insurance?

No claim discount (NCD) protection is an optional cover which protects your NCD from one “at fault” claim every year. It does not protect the overall price of your insurance policy, but does guarantee that your premium won’t increase next year as a result of a claim.

Is no claims protection worthwhile?

If you have five years’ no claims discount, it will significantly cut the cost of your car insurance. You could lose all that for just one accident. By protecting your no claims discount, you’ll be locking in that discount. You’ll continue to pay less on your premium even if you have an accident.

Is no claims protection a con?

A no claims discount (NCD) can play an important part in lowering your annual insurance premium. If you do not make a claim on your car insurance, then your insurer is not required to pay out. By default, this implies you are a safer driver and therefore cheaper to cover.

Is it worth protecting no claims discount?

Is it worth protecting no claims on home insurance?

After the first year, a no claims discount could save you around 10-15\% on your home insurance premium, then up to 40 or even 50\% after five years. The amount of discount offered varies between providers, so it’s a good idea to shop around before committing to a policy.

Do you have to declare an accident if you have no claims protection?

Do I need to declare a non-fault claim? Yes, you need to declare all accidents that you’re involved in, regardless of who, or what, was at fault. Pretty much all insurance providers will have a clause in their policy requiring you to declare any incidences you’re involved in while driving in the past 5 years.

Will my insurance go up if I have protected no claims?

If you’ve protected your no claims discount, then making a claim shouldn’t affect the number of years that contribute to your NCD. However, if you’ve had an accident, the basic cost of your premium is likely to go up.

Can you protect 1 years no claims bonus?

Once you’ve built up a few years’ no claim bonus, you can “protect” it with an optional extra fee. This means your no claim bonus will be safe-guarded, even if you make an at-fault claim.

How do I protect my no claims bonus?

Can I protect my no claims discount? A way to safeguard your no claims discount is to pay an additional amount on top of your car insurance to protect it. This means that even if you were to make a claim, your no claims bonus would stay intact.

How do you get no claims bonus?

There are three main ways to get proof of your no claims bonus and claim a discount on your car insurance:

1. From the letter you receive when your policy is due for renewal.
2. From the cancellation letter you receive when you switch to a new provider.
3. By contacting your existing insurer by phone, by post or online.