A mirrored no claims bonus is often used when a person, who already has earned a bonus on a car policy, decides to buy a van or commercial vehicle. You can add other drivers on the insurance policy and they will become the second, third, fourth driver etc. Furthermore, your existing bonus, that you have earned, may be stepped back by two years or even to zero. In this case you wouldn’t lose your no claims discount. But the benefits of hanging on to this feature of your policy may not be as worthwhile as you think.

Uploader: Brajin
Date Added: 7 August 2006
File Size: 33.35 Mb
Operating Systems: Windows NT/2000/XP/2003/2003/7/8/10 MacOS 10/X
Downloads: 82427
Price: Free* [*Free Regsitration Required]

Although it would be ideal if you could take out a car insurance policy in your own name right from the start, we understand that sometimes it may not be a viable solution because of affordability.

Your annual renewal premium is reduced by a set percentage.

The truth about no-claims discounts

If you have any questions or would like to share your experience about NDNCD, please leave a comment. Similar questions asked by our users Full no claims bonus for named drivers Named driver no claims bonus discount explained Will I lose no claims bonus if I become a named driver How does no claims bonus work for named drivers?

Another way to lower insurance lg is by opting for a car with a smaller engine, as this will fall into a cheaper insurance group. For this reason it is worth getting quotes both with and without this cover, with your existing no-claims history and with two years less.

No Claims Bonus Explained

Show 25 25 50 All. If I’m a named driver on a parents insurance and I build my own no claims, if i claim off the insurance, does it affect the policy owners no claims? With most car insurance policies the NCD applies to the primary driver detailed on the policy, with any other named drivers not building up any NCD. This can be particularly useful for younger drivers looking to gain driving experience to build up an NCD. A mirrored no claims bonus is often used when a person, who already cnd earned a bonus on a car policy, decides mcd buy a van or commercial vehicle.


If, however, a named driver had an accident, this could have an impact on the NCD of the main driver. It really is best to nsmed us at QuoteMe.

Loading nvd Trouble loading? As a driver with four or five years of claim-free driving behind you, you may be tempted to pay an extra fee to keep your history clean.

No Claims Bonus Explained

Just like “if it’s too good to be true, it probably is”, there are 3 things which you need to be aware of with this named driver no claims discount NDNCD:. So is it ever worth paying to protect your NCD? More posts on the same topic Second Driver Insurance Protected No Claims Discount Student car insurance Car insurance for first time drivers Policy holder, registered keeper and legal owner of vehicle.

Threads collapsed expanded unthreaded. That will give you an idea of how much losing your bonus could cost.

How much does my no claims bonus save me? Put simply, these discounts are aimed at rewarding motorists for incident-free driving by slashing premiums for each year they go without claiming on their policy.

Yet motorists can be protective of their NCD nxd fearful of losing it even after many years. Order by newest oldest recommendations. There are however a few companies out there which will allow you to earn NCD while being a named driver. You can move your NCD from one car to another as long as it is for the same driver.


The truth about no-claims discounts | Money | The Guardian

No Claims Bonus Explained. Below is a list of car insurance companies which value cnd named drivers:. This is brilliant if eventually the named driver wants to go onto their own car insurance policy later. Jen Rose, 39, from Cenarth near Cardigan in west Wales, has built up her NCD over a number of years and clings to this to get cheaper premiums at renewal time for the Audi A6 she drives.

Insurance Motoring Consumer affairs features. A few car insurers will allow named drivers to earn a no claims discount. So with insurers taking different approaches, it is almost impossible to work out how valuable protecting your NCD could be.

It bamed well worth giving us a call to talk through the various options when it comes to choosing what level of no claims protection is suitable for you. This article contains affiliate links, which means we may earn a small commission if a reader clicks through and makes a purchase.

You can earn no claims on all types of motor insurance policies — car, van, commercial vehicle, tractor and on all types of cover — third party, third party fire and theft, and fully comprehensive.