Car insurance And The Phenomenon of The No Claims Discount
Avinash B.: If you're a good driver, you're less likely to make an accident and hence you're more likely to be profitable for the insurance company, hence you get given a discount so that it's more attractive for you to sign up with that particular insurance company.
Seema M.: No claims discount is a very important aspect in motor insurance. No claims is built, the number of years you drive, claim is free. If you do not have an accident for, say five years. So, when you purchase a motor insurance, that is taken into consideration and you get already big discount on your premium.
Jeffrey C.: It is very important as well if you want to get discount or if you want to move into a higher type of policy like what we have is executive policy wherein all optional covers are inclusive in it. It's good; it's actually beneficial to the client.
Seema M.: When you leave this country and migrate, and when you have your no claims back in UK it makes a lot of difference; you get a very good discount. So it's very good to have claims-free driving and have a no claims discount in your policy.
Mark L.: Hit-and-run case will affect your no claims discount because, basically, this case is like no third party involved. So someone hits you and you don't know who it is, so when you call the police, so there will be no third party involved so it will be considered as your fault. So your renewal premium will be affected, and the renewal premium will go high.
Deng E.: Now, there is some company that has this optional cover wherein you can protect that no claim discount. I can read an additional premium whatever the level of no claim that you have previously, you can protect that.
Seema M.: So even when you make a claim and if your claim or policy is protected by the no claim thing, it's called protected no claims. Then if you make a claim, suppose you have a 50% discount, and if you make a claim the discount goes to 30%, you don't lose all your 50% no claims. Whereas if you make an accident and if you do not have a protected no claims in your policy then in that case you lose all the 50%. So I would suggest that a person should go for this particular thing in their policy.
Fayaz K.: So, the better the driver you are, you are likely to get better terms when you purchase an insurance every year.
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