Money-saving tip: Get a no claims discount
A no claims bonus is a great reward for safe driving – but you could save MORE money by protecting it or switching providers.
We look at the different car insurance discounts available.
What is a ‘no claims discount’?
If you drive accident-free for a year, car insurance companies will reward you with annual reductions of up to 70 per cent.
Each consecutive claim-free year will result in more savings.
Can I keep my no claims bonus if I’m involved in an accident?
If your car suffers a minor shunt which is cheap to repair, you can still keep your no claims discount.
It’s perfectly legal to get your car repaired without telling your insurer – but if an accident involves a third party who is seeking a claim, you MUST inform your insurer.
How to get cheaper car insurance
Can I save more money by changing insurer?
Yes – each insurance company is different and prices vary – so shop around. Avoid accepting renewal quotes from your current insurer without looking around first. There may be cheaper deals available.
Visit Auto Trader’s Car Insurance Centre to search from more than 300 companies.
What is a protected no claims bonus?
After a few years you’ll be able to pay for your no claims bonus to be protected, which means you won’t lose your bonus if you make a claim.
When protected, motorists are usually allowed up to one claim per year – or two over a three-year period. Making a claim could still cause your premiums to rise.
What is a guaranteed no claims bonus?
This allows you to protect your no claims discount for life. You’ll normally need around five claim-free years before the insurance company will guarantee your bonus for life – but they will increase your premium if you continue to claim.
Car insurance explained
Come back tomorrow for more money-saving tips.
How do you save money on your motoring? Share your tips on the Auto Trader Blog.
Disclaimer: Auto Trader cannot guarantee the above advice will always save you money.
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