A no claims bonus is a bonus scheme which rewards customers that don’t make claims on their insurance. After a year or so of not claiming on your insurance you should be eligible for a no claim bonus or discount. A common amount is usually a 30% reduction on your starting rating and can often extended to healthy 60% over time.
Your no claims bonus will be disallowed or reduced if you do make a claim (as the name suggests). Rather than disallowing it, it’s common for insurers to reduce it by 2 years to keep their customers happy. As with most people, it’s very common to repair the minor damage yourself in order to protect the no claims bonus you’ve developed over the years. Some offer protected no claims bonuses.
If an accident is not your fault and you have a protected no claims bonus then your insurance charges should be consistent until the matter is resolved. Normally if the insurer is able to recover the cost of the claim your no claims bonus shouldn’t be affected.
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