Car insurance: How to make you car insurance cheaper with a no claims discount

12 September 2013 - Which Way To Pay

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Does a no claims bonus make your car insurance cheaper? How a no claims bonus works.

A no claims bonus is one of the only ways to save money on your car insurance and could save you up to 30% off you premium in just one year. If you earn four or five years continuous no claims, your discount could be in the region of 60% off the price you would otherwise have been quoted.

Don't claim on your car insurance

If you don't claim on your car insurance policy you will start to accrue a no claims discount for every year that you have insurance without making a claim. Watch out though, it is not whether the claim was your fault; it is whether you have had to make a claim. This is still the case even if you were hit by an uninsured driver.

What type of insurance can you earn no claims on?

You can earn no claims on all types of vehicle insurance policies including third party, third party fire and theft and fully comprehensive. The maximum number of years that companies offer you a no claims bonus discount is usually five years, however, some companies offer up to eight years.

How to protect your no claims bonus?

A great way to safeguard your car's no-claims bonus is to pay an additional amount on top of your car insurance to protect it. This means that if you were to make a claim, your no claims would remain. Watch out though, a protected no-claims bonus wont entirely protect you from a higher premium when you come to renew your car insurance. When calculating your premium, insurers look at the number of years without claims as well as number of claims made.

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