Every motorist is required to have at least third party car insurance by law. It also comes as a comfort to many road users to have a form of safety net if they become involved in an accident. However, if you’re a careful driver with car insurance, it always pays to be on the lookout for the best deal.
This is where being given a ‘no claims discount’ by your insurer would prove to be useful; especially if you feel that you’re being given a raw deal.
Thankfully, for all the careful drivers out there, there are great insurance companies that offer great services, one insurer from Ireland, 123.ie, who offer all the information needed to make an informed decision about the perks of different policies.
No claims discounts are a good incentive for anyone who worries about being hit in the pocket despite not being involved in any collision, whether or not it was their fault.
If your insurer gives you a no claims bonus at the end of every year, and you decide to let it build up for a few years, when you decide to switch to a rival company or try to negotiate a better deal with your existing insurer, they will take it into account. Letting your no claims bonus build up for a few years or so will help to bring your costs down considerably if activating it. However, if you move to another insurer, they may remove a couple of years off your bonus.
Any no claims bonus that you may have will become invalid if you become involved in an accident, but if it wasn’t your fault and you have proof of that fact, then you may still receive a small discount. This is important to remember before you decide whether to build up your no claims bonus over a number of years when joining a new insurer or signing up to a new policy with your current one.