Get no claims bonus information from the leader in insurance help, insurance-owl. What can you expect from a no claims bonus car insurance and what are the potential pitfalls? Insurance owl will help you sort the fact from the fiction.
Usually associated with vehicle insurance. This is a bonus given to policy holders, if you can prove that you made no claims for a certain amount of time then the insurance company will give you a discount when you purchase the policy.
It is in the benefit of the insurer to reward safe users, statistically a driver with no or few claims is unlikely to eve be responsible for an accident.
This is the no claims bonus
It is the insurance company taking into consideration your normal behaviour, if you don't normally have accidents then insurer will calculate you policy accordingly.
But there are some catches, you must be able to prove that you never claimed, (previous insurer details for example), and by definition you must never have made a claim.
Sadly some insurers tend to refuse the no claims bonus even if the claims you did make were not your fault, the reason been that not only you are a good offensive driver but you are also a good defensive driver, (quite hard to achieve).
Cheaper premiums, preferential status and so on.
If you are likely to never claims then it is in the interest of the insurance company to have you in their books.
Use it to your advantage when shopping around for a insurance.
Unfortunately it is not up to you to decide when you are entitled to a bonus. Most insurance companies will only offer a "no claims bonus" to new customers. So it does pay to shop around.
The simplest way it to compare with other companies, what benefits do they offer.
It might be tempting to jump to the cheapest premium but you need to look at other factors as well, such the actual value of the compensation and extras, (free car rental while the claim is been settled).
As a general rule, a good company will offer a no claims bonus.
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Please note that this website is for information only. Whilst every care has been taken to provide accurate information the complex nature of insurance, cover and compensation mean that you are responsible for the final decision on what action should be taken.
You need to take special care to ensure that the advice given applies to you country, state or jurisdiction.
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