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No Claims Bonus is a term used to describe the number
of years you have had Car Insurance without making a
claim. Put simply, if you have had Car Insurance for 4
years and you have not made a claim in that time, then
you have 4 years No Claims Bonus. No Claim Bonus is
probably the single biggest factor affecting the cost of
your Car Insurance premium. Every year that goes by
without you making a claim is another year of No Claims
Bonus.
Generally speaking, the more No Claims Bonus years
you have, the cheaper your premium will be for the car
you need to insure. This is because Car Insurance
companies can see that your history regarding making any
claims is a good one.
When changing provider, Car Insurance companies will
usually ask you to prove your No Claims Bonus in the
form of a renewal notice or a letter from your current
Car Insurance company. If you have several years of No
Claims Bonus but then make a claim, the Car Insurance
company will usually apply it's rules of how much to
knock back your No Claims Bonus Years. Some companies
such as Accept Direct ( http://www.acceptdirect.co.uk
) offer to protect your No Claims Bonus for an extra fee
during the quotation process. Having full no claims
bonus can also entitle you up to 75% discount on your
car insurance premium.
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Links
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Andrew Bowen is the CEO of Accept Direct Limited. Accept
Direct offer car insurance to UK customers through their
website http://www.acceptdirect.co.uk
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