Quick Answer: What Is Protected No Claims Discount?

Is it worth protecting your no claims discount?

It depends on your personal situation whether it’s worth protecting your no claims discount.

If you have five years’ no claims discount, it will significantly cut the cost of your car insurance.

You could lose all that for just one accident.

You’ll continue to pay less on your premium even if you have an accident..

Do I lose all my no claims after an accident?

Will each claim affect my no claims discount? If you make a claim on your car insurance and your insurer pays out, you’ll lose some or all of your no claims bonus. … However, if you claim following an incident that wasn’t your fault, your no claims discount should remain intact.

What difference does no claims discount make?

If you chose not to protect your no claims your premium would be £300, but after making a claim your discount will be reduced to three years at renewal, which could reduce your discount from 75% to 50%.

Do I pay excess if not my fault?

An excess is the amount you pay (or we hold back) in the event of any claim, regardless of who’s to blame for the incident. If you don’t make a claim but a third party does, and we pay out, you don’t have to pay your excess. If you claim for damage to your vehicle the excess is always payable.

How do I find my no claims discount?

Your no claims discount may be on your renewal letter. If it’s not on there, it might be on the cancellation notice you’ll receive if you’re switching. If you can’t find it yourself, contact your provider and ask them to send you the required proof.

What does proof of no claims look like?

There are three main forms of proof: The renewal invite from your current or previous insurer will state the number of years you’ve enjoyed a no claims bonus. A cancellation letter from your previous insurer, as long as it states your no claim bonus.

Can’t remember how many years no claims?

Proof of no claims is usually only valid for two years, which means if you’re off the road for any reason or don’t have your own policy for more than two years, you’ll be back to zero NCD the next time you take out cover.

Do insurance companies ask for proof of no claims?

Do insurance companies ask for proof of no-claims? Yes. When switching insurance providers, most will request that you provide proof of your no-claims bonus when getting a quote.

Why does my insurance go up when someone hits me?

Because car insurance is all about risk, the more accidents you have, regardless of fault, the higher the probability is that you could be involved in another crash. This means that you pose a higher risk to insure for your company.

Why has my car insurance gone up after a non fault accident?

In many cases, your premiums will go up after you’ve declared a non-fault claim to your insurance provider. This is because certain circumstances surrounding the accident, even if it wasn’t your fault, may lead to more accidents in the future.

Will my insurance go up if I have protected no claims?

If you’ve protected your no claims discount, then making a claim shouldn’t affect the number of years that contribute to your NCD. However, if you’ve had an accident, the basic cost of your premium is likely to go up.

What is the maximum no claims discount?

After building up a no claims bonus for a number of years, drivers can receive a maximum discount of around 60 or 65%.

Does windscreen repair count as a claim?

On a comprehensive car insurance policy, at the very minimum your windscreen will be covered much like the way every other part of your car is covered. So if your windscreen is damaged and you want to get it repaired, you make a claim, pay the full excess and you will be able to get it fixed.

What does 50/50 mean in a car accident?

If liability is agreed on a 50/50 basis, it means that you and the other side have both accepted 50% responsibility for the accident. You will receive 50% of the overall value of your claim* from the other side’s insurance company.

Can 2 people insure the same car?

Don’t worry – you can legally have more than one car insurance policy for the same car – there’s nothing to stop you doing it. And if you take out a second car insurance policy when you already have one, it won’t mean the first policy is void.

Do you lose no claims if not your fault?

If you make a claim on your policy where your insurer pays out, you’ll generally lose some, or all, of your no-claims bonus. But if you’re hit by another car and it’s agreed that you weren’t at fault, your insurer may be able to reclaim the payout from the other car’s insurer and your NCB may not be affected.

Will my insurance pay if it was my fault?

If you are considered at fault for an accident or loss, your insurer won’t be able to recover their costs if they’ve paid for your repairs. Not only that, the third party or their insurer will probably claim back their own costs from your insurance company.

How much no claims do you lose after an accident?

Even if you do have to claim for an accident that was your fault, you could still keep some of your NCB. If you make one claim during your insurance period, you’ll lose two years of the Bonus. So, if you have five or more years NCB, it will reduce to three years at renewal.