Car Insurance 101: The best ways to protect your no claims bonus

Once you get into the big bad world of driving, you’re going to want to start looking for new ways to reduce your insurance premiums. There are many variables that insurance providers consider when looking to offer you discounts on your annual premiums. They’ll consider things like the number of years you’ve been driving, your age and gender, as well as any claims you’ve made since you’ve been driving. In the eyes of a car insurance provider the more claims you make, the more of a risk you are, which translates roughly into higher insurance premiums.

That considered, once you’ve built up a good few years of no claims bonuses, you’ll notice that your insurance provider begins to reward you for your safe driving by reducing your annual premiums. But what happens if you need to make a claim? Are all those years of safe driving lost?

How to protect your no claims bonus

If you’ve been driving between one and five years, depending on your insurer you may be entitled to a no claims discount. The thought of losing all those years of safe driving and no claims bonuses due to one minor crash can seem daunting, but fear not, there are some methods of protecting your efforts.

Once drivers have a no claims bonus history of three years, they can reach out to their insurance provider to discuss no claims protection. Drivers will be required to pay a small additional fee on top of their yearly quotes, but it means if there is a crash or an incident that necessitates a claim, they’re protected.  Don’t be deterred by the additional fee though – a no claims discount can save you up to 65% on your annual insurance premiums.

When should I claim?

When you’ve been involved in a heavy collision or minor road accident, looking into how this affects your insurance premiums will often be the last thing on your mind. That’s why it’s important to know when the best time to claim, and not to claim, may be. It is often the case with minor incidents, that the costs of repairing your vehicle yourself significantly outweighs the expense you would experience if you lost your no claims bonus. Depending on the magnitude of the incident and whether any other drivers were involved will determine whether it’s necessary to make a claim to your insurance provider.

It’s always a good idea to seek out the best insurance deals for your situation and understand exactly what your annual premiums encompass. Whether that’s knowing when you should or shouldn’t make a claim, or simply looking into the possibilities of protected no claims bonus add-ons, there are a range of suitable insurance deals at call wiser insurance.





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