How to protect my car insurance no claims bonus

The biggest motoring asset after you car could well be your no claims bonus; it could be worth many hundreds of pounds over your motoring years, after all after 5 years your no claims bonus can be worth 65% a big discount on your insurance premium. This is your reward from your insurance company for years of careful motoring, or simply paying out for that minor knock received by some unknown person in the supermarket car park.

It is possible to protect this valuable asset and many insurers offer schemes whereby you can protect your car insurance no claims bonus, but the rules vary from company to company, but our comparison site will help you keep this asset. What should be remembered is that this discount is a no claims and not a no blame bonus, so when you claim for an accident that was not your fault, you could lose this annual discount if your insurer cannot agree with the third party.

Should you be unfortunate and have to make a claim, it does not necessarily mean that you will lose all your bonus, some companies just reduce it by two years, again our comparison site can help you. Similarly, we can help find the insurers that give both the best premium rate and also the lowest rate for adding the insurance no claim protection clause, remember it could be well worth it if you have to travel lots of miles, the more you use your car, the more likely you are to be involved in an accident.

Not all companies offer the same rates of discount, with one company you could 50% with one and 55% with another, and all has to be taken into account when considering quotations from an insurance price comparison site, as well as discounts for perhaps a second car insured with the same company. When you consider that it is possibly to have discount rates of between 65% and 75% it is worth looking after and you can pay to protect it. This ensures that in the event of a claim the no claims bonus will remain in tact; however a series of accidents in quick succession may mean that it is not protected again immediately.

Richard Young has been working in the car insurance industry for many year and currently works for ChooseInsurance.co.uk