Insurance firms want safe drivers who aren’t ever going to make a claim and thus they will be very interested in offering discounts to the safest of those looking for insurance. Insurance firms use the number of years during which you haven’t claimed as a way of judging how likely you are to make a claim in the future. So, if you choose to change your insurer, can you take your no claims bonus with you?
All insurance firms have many different terms and conditions although most of them will allow you to take you no claims discount with you when you make the switch. There is a lot of competition amongst car insurance firms and they will not deter you from making a switch if at all possible.
The standard benchmark for no claims discounts is four years and some firms only let you take out a policy if you have this length of no claims under your belt. There is normally a more sliding scale and some firms reduce premiums by 30% each year of no claims you add whilst on their policy. This is often factored into your renewal price which should be lower if you have not made a claim. A no claims status is a good bargaining tool when it comes to your renewal and you should ask for a better deal if you think you have been short changed.
If you are purchasing a policy that differs from the one you currently have then there may be an issue with your no claims carrying over to your new insurer. If you are moving from a third party policy to a fully comprehensive one then you will only have a no third party claims bonus to show. This may cause some complications and thus you will have to contact the firm you are interested in before stamping their policy with your signature.
You no claims bonus can save you a lot of money each year and thus you should do everything you can to protect it.
