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Confused about what No Claims Bonus actually is and how it can save you money? Well you don’t have to worry any more. 


So what is ‘No Claims Bonus’? 

Firstly ‘No Claims Bonus’ or ‘NCB’ as it is sometimes referred to, is a type of discount on your premium (the amount of money to be charged for a certain amount of insurance coverage). The ‘No Claims Bonus’ is based on the number of years since you made a claim or a claim was made against you. A higher number of years results in a larger discount while a low space between claims results in very little. 


Before your renewal date, your current insurer will post you out a document declaring how much “No Claims Bonus” or ‘NCB’ that applies to your policy. This letter is required by your new insurers if you wish to switch insurance providers. It is important to note that you can change your car and still retain the discount on your policy. 



How it works?

‘No Claims Bonus’ is very simply when it is explained. For every year that is claim free, you receive a 10% discount on the price of your premium. There is a limit however as most insurance providers will only allow up to a 50%  discount. This means unfortunately that even if you have a 15 year or 20 year ‘No Claims Bonus’, you will still get a 50% discount. But a 50% discount is still better than no discount. Please note that this does not apply to all insurance companies and we will let you know of the best options to suit your needs. 



Who can earn it?

Although only policy holders can earn an NCB, it is possible for those who have earned Named Driving Experience (NDE) as a named driver on someone else’s policy to get discounts on a policy in their own name. To do this, you will need to get a letter from the insurance company with whom you were insured as a named driver. The document should state that you were a named driver and that you did not make a claim. However please note that not all insurers allow NDE to be converted into NCB for the purposes of awarding discounts.