A no claims discount can be one of the biggest factors when it comes to the cost of a policy. However, many may be unaware of the simple things that can invalidate their protection. Without realising, certain changes to the policy, such as becoming a named driver instead of the main driver or having a gap of more than two years, say across the pandemic when they weren't driving could wipe clean the no claims build-up and void the insurance policy.
No claims discount protection is another hot topic for discussion this year, customers need to check the details through with their insurer, get a quote with and without the additional protection for comparison and make sure their bonus is protected continuously should they decide to switch providers. Normally protected discounts allow drivers to make up to two claims within a three to five year period without losing their no claims discount, but this can vary between insurers so be careful.
The difference between 0 and 5 years no claims bonus can be significant too, estimating 30% for one claim-free year and 60% for five claim-free years although again, each insurance provider may be different so drivers need to compare.
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