What’s a no claims bonus?

Posted on May 2nd, 2008 in Uncategorized by admin

In case of vehicle insurance, the no claims bonus or no claims discout is a discount given by an insurer to policyholders who do not claim on their policy in a period of car insurance. It is the traditional way of keeping car insurance premiums low. Typically this starts at around 15% after 1 year and climbs to 60% after 6 or more claim free years.  No Claims Bonus vary depending upon the number of years of insurance. The claim in this instance is any cost made under the policy whether it is to the insured or a third party. Some insurance companies offering small claims protection,  it is for a small fee you can protect your no claims discount.

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