Can I Protect My No Claims Discount

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Written by Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.

A no claims discount is simply the accumulation of years that a driver has without making a claim on their insurance, for any reason. Insurance providers reward safe drivers and zero claims are a strong indication that you are a trustworthy driver. The reward? Considerable discounts on your monthly payments.

No claims discounts differ between insurance providers but on average, drivers who have a years worth of no claims can receive around 20%-30% off their premium with those in their second year receiving around 40% off. As your no claims discount accrues over the years, some drivers can receive up to 60-65% discounts, which is considered the maximum amount of discount that can accrue.

To protect or not to protect

If you are involved in an accident and have to claim on your insurance on your own behalf or on someone else’s if you take responsibility for an accident, then unfortunately your next insurance policy will be without your no claims discount. This is regardless of how many years no claims you have managed to accrue.

If someone else takes responsibility for an accident then your no claims discount should remain intact. It is always smart to consider whether to claim on your insurance if you are able to afford any repairs yourself. By not claiming on your insurance and paying for your own repairs or replacements may be difficult but if you are able to it may be more beneficial in the long run to keep your no claims discount intact.

The very best way to protect your no claims discount is through safe driving practices. There are many things that influence your can insurance premiums which are out of our control, but the way we drive is one that we can take control of each time we get behind the wheel.

With a history of no claims, drivers are also in a strong position to secure cheaper car insurance when it comes to renewing.