Typically, you earn one year. Two years. A no-claims discount builds up over time - the longer you go without making a claim, the more your discount will be. As a result, you continue to collect an additional 5% from your second straight year of making no claims. 6. ¹. Up to £300. The latter starts at 10% and gradually reaches a maximum of 30%. New Car Insurance Discount for 2023. No Claim Discount (NCD), also known as a No Claim Bonus, is a discount on your car insurance premium that your insurer may offer as a reward for not having made a claim against your policy. M. This discount program is usually contained to the one car insurance provider, although some. For every year that you don’t make a claim on your car insurance, your discount increases. 1 Year: 34%; 2 Years. With three consecutive years without a claim, the no claim bonus percentage will be 35%. Picking a car insurance policy to purchase often feels like. Provided by review-widget. If you want to choose your own repairer, please contact us using webchat (available via Claim Online) or call 13 46 46 to talk to a claims specialist. American Family: Best large insurer. No-claims bonuses are available in other countries, including the United Kingdom and India, but they are not common in the U. Every year you earn a No Claims Bonus you will receive a discount off your annual insurance premium. NerdWallet’s ratings are determined by our editorial team. Lots of countries have similar systems that use. We are offering 20% off* on new private home quotes for homes with a BER rating of B3 or higher. Understanding the Experience Rating programme. USAA Insurance Reviews: J. Amount In insurance, a bonus–malus system ( BMS) is a system that adjusts the premium paid by a customer according to their individual claim history. Every insurance company has a different approach to the discounts they offer, how long it takes to earn those discounts, or what happens to a driver's accumulated discount if they make a claim. The lower your rating, the bigger your discount. The reward is a discount on the premium when you renew your insurance. Another 10% is added upon the third claim free year, making it 35% discount. Overall Rating 3. Nikolaos Kefallinos discusses the development of national no-claims discount schemes, and their contribution to public road safety. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding taxes and government charges. When you reach this ceiling, we apply the maximum no-claim discount (Rating 1). Find answers to frequently interrogated questions via no-claim sales for Comprehensive Car Insurance policies. Customers were also asked to rate their most recent claim. NCB is good news for drivers because it can save you money on car. This is because if you make a claim, you could lose anything you've built up already. It appears that the existing BMS fails to acknowledge the. 27, and. Four or five years of NCD could equal a 60 per cent saving compared to insurance without an NCD . No claim discount protection. This is your insurer's way of recognising and rewarding you for having been a careful driver. No-Claims Discount in year 2 renewal：30% NCD. A no claim bonus (also called a no claims discount, safe driver reward, no claim bonus rating scheme, or rating level) typically gives you a discount on your car insurance. Calling your car insurer and speaking to them directly. We calculate your NCD or Rating by looking at the number of years you have been driving and your claims and accident history. Here are Forbes Advisor’s picks for the best car insurance companies of November 2023: American Family: Best for Low Level of Complaints. NCD schemes which are described by insurers as ‘no-claims bonus. All insurance companies have their own no claims discount scale, but a typical example might be: 30% discount after 1 year's claim-free insurance. The Cost of Insurance The price we quote for insurance is at our sole and unrestricted discretion. Confirm the number of years the NCD was built up over. 15,000, considering the 20% NCB bonus on the premium. Table of Contents. Discount on renewal. Maximum no claim discount term: 10 years. Volunteers of America Car Insurance Discount for 2023. Table of Contents. After. Each year the discount on your renewal premium increases, reaching a maximum discount after 14. Ratings start at 6 (0% discount) and decrease for each consecutive year you don’t make a claim. The London Ultra Low Emission Zone (ULEZ): what you. A No Claims Bonus can only be used on one vehicle at a time. Above 21. Expert News. . Some insurers may also offer no-claims discounts for periods. If it's less than $10,000 your business will be in our No Claims Discount programme. Erie: Best. If you’ve been driving for five years and haven’t made a claim on your car insurance, you’ll earn five years no claims discount. Malus is an increase in the premium if there is a claim in the previous. 4. There is an immediate benefit in terms of discount in the rate charged. No Claim Bonus Calculator: If you are wondering how NCB in Car insurance is calculated, the following paragraphs will give you the answer. com): 4 years of NCD 20 on Bike A no claims discount (also known as a safe driver reward, no claim bonus rating scheme or no claim bonus rating level) is a reward offered by some insurance providers to safe drivers. The amount of your insurance premium payable or saving is dependent on your NCD entitlement. 15%. 51%: 6 Years. 1. Research by Moneysupermarket. Get your NCD questions unsolved with Budget Direct. Provided by Quotezone. However, DirectAsia is now offering a NCD60 coverage – a first in Singapore. 08, but this increases to £1,765. A no claim bonus (also called a no claims discount, safe driver reward, no claim bonus rating scheme, or rating level) typically gives you a discount on your car insurance. If the number of years shown on your proof of NCD isn't as high as you expected it to be, one of these reasons may explain why: The request for your proof NCD was made before you recieved your renewal. No Claims Discount (NCD) is the UK system for rewarding safe drivers. A no claim bonus (also called a no claims discount, safe driver reward, no claim bonus rating scheme, or rating level) typically gives you a discount on your car insurance. For example, a provider might give you a 30% to 40% discount if you don't claim in your first year, and then offer an additional 10% if you repeat the feat in your second year and beyond. Policyholders with a claim-free record can get from 20% to 50% discount on premiums. This means, no matter which car you have- as long as you have been renewing your car policies before its expiry date, you can continue to benefit from a NO Claim Bonus for your car insurance. While this is a possible type of No Claim Bonus, very few insurers prefer to give a premium discount. This is a way for insurance companies to encourage safe driving and reward responsible behavior on the road. For those with a 50% NCD, their NCD will be reduced to 20%. 2: Enter your vehicle plate number and NRIC. A no claims bonus (NCB), or more correctly a no claims discount, is awarded if you don't claim in the latest policy year. No-claims bonus (NCB), otherwise referred to as No Claims Discount, is a way you can cut the cost of car insurance. It’s a system that rewards drivers based on the number of years they’ve been driving without making a claim. 57, according to Comparethemarket. 20%. Then try adding in no claims protection to the quote and comparing this again. Instead of no-claims bonuses, American car insurance companies offer good. The NCB discount is offered on the premium amount during renewal. On the face of it, it seems reasonable to reward good, non-claiming, drivers by reducing their insurance costs, however I for one have. No claims discount protection typically means a policyholder can make a claim on their car insurance, if they need to, without losing their no claims discount altogether. Percentage. No claims discount rating. Choice of repairer and lifetime repair guarantee when we authorise your claim and you use an RACQ Selected Repairer. A no-claims bonus – also known as a no-claims discount – is a percentage discount that your insurer shaves off your insurance premium to reward you for not having made a car insurance claim in the previous year. — including cars you no longer drive; Otherwise, you should. The way that it works, is that each year that you drive without claiming on your insurance, you will gain a year of no claims discount. Typically, you earn one year of NCD for every year you don't make a claim on your car insurance. It also depends on the type of vehicle that you have, your driving. It can be achieved by sustaining a claim-free record. Pekin Insurance pros: Long-standing carrier with just under a century’s worth of experience in the insurance industry. Be in the main driver’s name. Benefits of NCB in Health Insurance. As each year passes without you placing a claim you will move up on the discount level until you. This discount can be anywhere up to 60% in the first year. The company offers over a dozen types of insurance through independent agents in 26 states. You can only use your no claims discount on one vehicle at any. NO CLAIMS. However, the discount rates are dependent on the age of the policy and when the last claim was made. 10%. For comparison, More Than has a 3. Don’t make any at fault claims for 12 months while you are a Rating 1 with 60% no claim discount. Get quote. 5 out of 5. 4783 3 mins. Up to £250. Appreciating the diffence between a No Claim Bonus and a Cash Back Bonus. • NCB is applicable per item and not per policy in general. 14 Jan 2021. Protecting your No Claims Discount doesn’t come for free, you’ll have to pay for the privilege. User #176954 373 posts. Progressive: Best. A no claims discount (also known as a safe driver reward, no claim bonus rating scheme or no claim bonus rating level) is a reward offered by some insurance. 5. The discount percentage will go up progressively every claim-free year. Three years. ’ ‘no-claims discount’ or ‘ratings’ schemes, typically offer discounts to consumers who do not make claims. 0%. Make sure to submit your proof within the required timeframe. NCD schemes—described variously by insurers as ‘no-claims bonus’, ‘no-claims discount’ and/or ‘ratings’ schemes—typically offer discounts to policyholders that increase for each consecutive claim-free insurance period up to a maximum discount off the premium, typically between 44% and 70%. This sounds like a big saving. It’s sometimes known as a no-claims bonus and can drive down your premium further for each year you don’t claim, usually up to a maximum of 5 years. Calling your car insurer and speaking to them directly. The no-claims bonus can be as high as 25% and it varies from one company to another. NerdWallet rating. NCD is short for "No Claims Discount". %. If you have car insurance, you can be eligible for a no-claims discount for every year that you don’t make a claim on your policy. 41 of 2017, drivers with a no-claim record of one to three years are entitled to an assured reduction. (see ‘No Claim Discount’ section for details). 3: Click ‘Get My NCD Record’ OR if you have a company vehicle, type in the business registration number. The amount this is worth varies depending on the insurer but it can easily save drivers several hundred dollars. Each year atA No Claim Discount reduces your Comprehensive Car Insurance premium, and is based on your driving experience and claims record. Taxes and charges (like GST and stamp duty) are not discounted. This is not for a group of people. Find answers to frequently inquired questions about no-claim discount for Comprehensive Car Insurance policies. No Claims Discount can lower the price of your Private Hire Insurance; Zego offers the maximum discount with 5 years NCD; Zego’s NCD Protection helps you keep your discount even if you make a claim; By law, UK taxi drivers must have Private Hire insurance that covers them to carry passengers for payment. If you don’t make any claim for an entire, you’ll receive a 10%-15% discount amount. 58%:The policyholder needs to make a claim in order to receive financial help as per the terms and conditions of the insurance policy. Reviewed by Carrie Adkins. Progressive car insurance costs $2,075 per year on average for full coverage insurance. If it’s not there, it could be. Car hire, plus taxi benefit following an accident. GIO PRODUCTS If you have taken out comprehensive car insurance it will come with a no claim bonus, which is also known as a no claim discounts or rating scheme which gives you a discount every time you do not claim. Each year at renewal, yourCompare quotes with 50+ UK insurance providers. It reduces the premium you have to pay for the following year. Open it using the online editor and start editing. Having a No-Claim Bonus in your car insurance coverage can cut down a significant amount of policyholders monthly car premiums. 006-103. Rank. 1 in our Best Home and Auto Insurance Bundles of 2023 rating. 51. Yes - Up to 14 days, max $1,000 total. This includes car type (and its safety rating), car age, car usage, garaging situation and your claims history (plus more). S. 3. We calculate Your No Claim Bonus rating based on: A no-claims bonus for car insurance is a reward for driving safely and not filing a claim for a certain amount of time – typically a year. High ratings through A. 86. Explore. Discount on renewal. In this area, Churchill received a score of 73%, meaning it was 7th of the 17 companies we scored. $500 : Optional additional basic excess chosen by you . The longer you’ve been with. NCD Protection does not protect the overall price of your car insurance policy. How to earn the Claim-Free Discount (compensable-claim-free experience rating) Businesses can qualify for a Claim-Free Discount two ways: If your business has no claims, or claims where only medical expenses are paid in the 3-year experience period; In some cases, by purchasing an existing business that already has a Claim-Free Discountl No Claim Discount (NCD), l discounts we offer, and l excesses that apply to your policy. Easy Pay Plan: Save 5% by setting up automatic payments. NO CLAIMS definition: A no claims discount or bonus is a reduction in the money that you have to pay for an. Number of at fault claim free years Discount One 20%. However, in that time, I've never actually held insurance under my name (always under. This discount can be as high as 50% and accumulates each year, making your policy much cheaper in the long run. A $50 discount on your first annual premium when you apply online. You just need to. Your no claim bonus may decrease when you make a claim where there is no third party to recover costs from. Save on car insurance premium: The benefit everyone loves! Discounts! A No Claim Bonus will save you at least 20% of your annual car insurance premium. A discount ranging from 20-50 percent on. Keep driving safely and continue to earn higher credit until you reach our highest status Diamond. pl/RcO4aP. Car accident and collision damage. The bottom line: Wawanesa offers cheap coverage for drivers in California and Oregon, but received more complaints than expected for a company of its size. No Claim Bonus is calculated on each eligible vehicle insured under your motor vehicle policy unless your claims history does not entitle you to a No Claim Bonus. NCD calculation method. EPV of future expenses to the insured, given no claims during the last i years. This discount can be anywhere up to 60% in the first year. How much is a no claims bonus worth? The amount of discount earned increases with each year of claim-free driving. So if your annual premium was £1,500 and you had a No Claims Bonus discount of 50%, you would be paying £750. The Progressive app has a 4. Protecting your No Claims Discount doesn’t come for free, you’ll have to pay for the privilege. Five-star reviews make up 63 per cent of the total, while 21 per cent are one-star reviews. One year NCB can result in around a 7% discount growing to 40% when you reach 9 years. The no-claims bonus is a reward for not making any claims. Thus, when. 1. One year. 2. Theft (also covers damages from vandalism) Hire car cover. You may still be entitled to a No Claim Discount even if you have made a claim, provided you are not liable for the accident and that you have been insured with us for the past 12 months. Maximum no claim discount term: 10 years. Multi policy discount: Discount on Home and Contents Insurance if held. John Lewis Car Insurance is underwritten by Covea Insurance plc. A No Claim Discount, sometimes referred to as the No Claim Bonus (NCB) in other countries, is a discount given by insurers when their policyholders do not make any claims. Let’s say you have been driving for five years without making any claims. Save 15% ^ on your first year’s premium when you purchase a new policy online. A No Claim Discount is a benefit you earn when you complete a full year with your insurer and don’t make any fault claims. The No Claim Discount rate is fixed by Persatuan Insurans Am Malaysia (PIAM) Motor Tariff that increases yearly up to 55% after five years as long as no claims are made. Car insurance companies offer a unique proposition called No-Claim Bonus (NCB), whereby policyholders are rewarded for not making a claim in the preceding years. No Claim Discount is a discount that we offer you on your renewal premium if there are no claims on your policy during the current period of insurance. The discount increases each year if you don't claim, up to a maximum number of years. We call these pricing factors. The best home insurance companies of 2023. 12%. Insurance issued by AAI Limited ABN 48 005 297 807 trading as AAMI. means a reduction in the premium allowed at the time of renewal to the Voluntary Driver in recognition of no claims under their private motor Policy in the expiring period of insurance. Sometimes referred to as a No Claims Discount, this is a discount that is applied to the cost of your car insurance – a ‘reward for good driving’. Insurers could have a 95% no claim bonus if they wanted to. Let’s assume that Raj pays a yearly premium of INR 10,000 for a sum insured of INR 5 lakhs per year. The no-claim bonus acts as recognition from insurance providers for being a low-risk driver. 2. It is a reward given to you by your car insurer if you do not file a claim in a financial year. Typically the older the drivers, the lower your premium will be. A no claims bonus (NCB), or more correctly a no claims discount, is awarded if you don't claim in the latest policy year. 0 in the Apple App Store backed by over 190,000 customer reviews and a 4. The Hartford earned 3. Does Bingle use the Rating system? Support. No Claim Discount plays a big role in determining how much you have to. And if you've gone a year without filing a claim, you probably already have it. D. That’s a significant discount! So, instead of paying the full premium of. Hence the name – “No Claim” Discount. You may get an additional 5-10% discount for the consecutive no-claim year for up to 5 years. See full list on blog. This MoneySuperMarket. Shannons gives you multiple ways to save – from a multi-vehicle or policy discount to a protected no claim discount. What discounts can I get on my policy? Although AAMI doesn’t offer a multi-policy and pension discounts, we do have a Safe Driver Rewards program, also known as a no claims bonus. It does this by giving you a discount for every year you drive without making a claim. That rate is about $70 a year less than the average national annual rate of $2,148. Once you've held Diamond for a year, you get the maximum 15% credit and 25% off AAMI Roadside Assist… and, even if you need to make a claim, your Diamond status won't change - known as Safe Driver Rewards Protection - but you won't get the. Yes - Up to 14 days, max $1,000 total. Each year’s worth of NCD gives you a discount on your. After 5th years. The amount that you can get with your no claim bonus will differ based on your history and driving experience. Although discount rates will differ between providers, according to the Association of British Insurers , one claim-free year could slash as much as 30% of your. Claims-free discount: If you’ve been claims-free on your home policy for at least five years, USAA extends a 10%. NCD eligibility requirements. Agreement As noted above, in the NR12 there exists a traditional Employer and Contractor relationship with each party retaining its own rights and remedies against the other party. This discount can be anywhere up to 60% in the first year. Providers will usually give you between seven and 28 days from the start date of your new policy to prove your no-claims discount. If you fail to report an incident leading to a claim on your policy within 24 hours of the incident or the next working day, we will reduce your NCD by an extra 10%. Even if you have an at-fault accident and need to make a claim you can still retain a no-claim discount* if you already hold a protected no-claim bonus*. Why does Suncorp no longer have a Rating/No Claim Discount structure for car insurance? We have decided to remove the previous rating (or no claim discount structure) and introduce Claims Free Driver Rewards. Important – Please note the final quote you get, net of no claims discount, is the one that matters. This will start at 2. Our NCD is capped at 5 years. S. See “NCB discount or rating level” section on page 6 of this guide for more detail. Important information on terms, conditions and sub-limits. 5% and increase to a maximum of 15% after ten years of driving safely. Homes with lightning protection systems do get a. 10-May-2023. Years of NCB. It also covers for lost car keys and includes a total-loss courtesy car. They will provide a certificate of insurance to show. 29%; 4. Even if you don’t claim for an accident, your premiums will still rise if your risk level increases. Make. It awards Comprehensive Car Insurance policy holders with benefits and rewards for every consecutive year they don’t make a claim. (Ratings start at 6 and decrease for every consecutive year you don’t make a claim; the lower your rating, the bigger your discount. Registered in England and Wales (registration no. Get your NCD questions solved with Economical Direct. So if, for example, you had a no-claims bonus of 30%, you'd pay £700 where you would otherwise have paid £1,000. No claim Rating 1 Rating 1 Rating 1 No claim Rating 3 Rating 2 N/A One at fault collision claim Rating 1. 5%; 1. 2. If you haven’t made a recent claim, you can get a no claims bonus, also known as a no claims discount (NCD), on your car insurance when you come to renew. A quick and easy way to buy and compare car insurance is via a comparison. Additionally, further discounts for AAMI’s Comprehensive Car Insurance policy include $50 off when purchasing online, up to 10% off when you pass the skilled drivers discount, and up to 20% off. Certain insurer allows NCD protector with 30% NCD. This drops to £310. 3. As a reward for not claiming on your insurance for five years, your insurer will apply a discount of 60% to your premium. Heck, IAG companies provide 65% NCB to 18 year olds, no questions asked. No: Basic excess . Bonus usually is a discount in the premium which is given on the renewal of the policy if no claim is made in the previous year. How can I keep my Rating 1? Once you’ve not claimed for 5 years and achieved a Rating 1, you can then retain this discount by getting NCD Protection. After that, you'll likely need to start again. You'll get a new vehicle if yours is written off in the first 2 years; some. And with the countdown under way, there are two key points to understand. Change the blanks with unique fillable areas. The level of your discount is stated on your Certificate of Insurance. There were 109,049 lightning claims in the U. However, any claim or incident may affect the terms that apply to your policy at your next renewal (including your premium or excess). Similar to a no claims discount, this program rewards you for driving safely and not making any claims. 4. Some insurers might honour your no-claims bonus when you cancel your car insurance and get a new policy. When you reach this ceiling, we'll give you a maximum no-claim discount, also known as a Rating 1. After you have completed your first claim free year, you will get 20% NCB. Take advantage of discounts. For example, if a policy normally costing £1,000 is eligible for a no-claims discount of 20%, it would cost £800. For example, if you have protected maximum no claim bonus and make two 'at fault' claims during the year, your no claim bonus will reduce to 40%. Free Car Insurance Comparison. As per the UAE Insurance Authority, an insured that has not made any claim for 1 to 3 years is allowed for a discount between 10% and 20 % while renewing their car insurance in Dubai. Just follow these easy steps to do it online: 1: Head over to MyCarInfo. The terms for no-claims bonus vary from one insurance provider to the next so it’s important to shop around and read the small print to know exactly what’s included in your policy. When you reach this ceiling, we’ll give you a maximum no-claim discount, also known as a Rating 1. For each year you drive without making a claim you receive a discount from the full-priced premium until it reaches a maximum discount (known as Rating 1). Customers were also asked to rate their most recent claim. You’ll earn Apia’s highest “Protected for Life” no-claim bonus* after just three consecutive years of claims-free driving. To minimise costs, you should start by considering who is on your policy. For more information please see your Product Disclosure Statement (PDS) and our Premium, Excess and. As the table below shows, a 40% discount on a £500 premium will see you paying more than a 30% discount on a £400 premium. Updated: 08 Sep 2022. Four years. No. uk. This means, no matter which car you have- as long as you have been renewing your car policies before its expiry date, you can continue to benefit from a NO Claim Bonus for your car insurance. Save 15% ^ on your first year’s premium when you purchase a new policy online. Which providers offer a no claims discount (NCD)? Pros and cons of a no claim discount (NCD) Is it worth paying to protect a no claim bonus? How to find out. We paid over 99% of RACQ Comprehensive Car Insurance claims in 2022. ASIC has today released a report shedding light on the operation of no-claims discount (NCD) schemes for motor vehicle insurance policies. This will start at 2. 10%. The company is No. Another solid strategy when you need to know how to lower your auto insurance rate is to consider discounts. | Meaning, pronunciation, translations and examplesErie’s Auto Plus package, for $35 a year or less, adds an assortment of benefits, some of which vary by state: Extra days of rental car coverage after an accident. 59 after an accident if the driver is at fault – a huge rise of £1,031. 0%. While a no claims discount is valuable, there are many more factors attributing to your premium. For example: Network Rail will typically possess a right to be paid liquidated damages in the event of late completion by the Contractor; and the Contractor will be. Protected no claim discount is one of the optional extras you can add to your LV= car insurance policy or select when you get a car quote online. Hence the name – “No Claim” Discount. While all of our customers can manage their policies online if they wish, we know a lot of people, including seniors, prefer talking to someone. 2022 J. A No Claims Bonus for auto insurance offers you a discount off of your physical damage premium for not presenting any claims. For instance, some schools give discounts on fees to parents who have more children in a particular school. A No Claim Bonus 1 is a discount that can be earned on eligible comprehensive policies in recognition of a claims-free record. It offers a 3-year as opposed to 2-year new-for-new replacement. Bonus usually is a discount in the premium which is given on the renewal of the policy if no claim is made in the previous year. Admiral received a score of 68% – 11th of 17 companies we scored. 03 on. Use a comparison site to check the difference in price for drivers with and without a no claims discount. This discount can be anywhere up to 60% in the first year. After the first year, this discount increases each year, usually by 5%, if you don’t make a claim. No claim Rating 3 Rating 2 N/A One at fault collision claim Rating 1 Rating 3 Rating 1Yes, do it! 5 years no claims is usually worth about 60% discount on your insurance. What is Rating 1? Rating 1 is the maximum discount you can achieve after 5 years of good driving. However, even not-at-fault car accidents can eliminate the no claims discount. A no claims bonus, otherwise known as a no claims discount, is a discount program offered by some insurers who provide comprehensive car insurance to reward safe drivers’ good behaviour behind the wheel, using the no claim bonus rating system. See ‘Rating 1 for life’ on page 38 for details. Through the Experience Rating programme, you could get a discount of up to 50% off your Work levy, or have up to 100% added to your work levy. It’s basically a reward for you being a careful driver. The discount increases each year if you don't claim, up to a maximum number of years. A really big indicator of how likely you are to make a claim in the future is how many claims you've made in the past. One excess-free claim per year for damaged windscreen or glass. At Budget Direct, the NCD is capped at 5 years. The discount increases each year if you don't claim, up to a maximum number of years. No claim Rating 1 Rating 1 Rating 1 No claim Rating 3 Rating 2 N/A One at fault collision claim Rating 1 Rating 3 Rating 1 One at fault collision claim Rating 3 Rating 5 N/A Two at fault collision claims Rating 1 Rating 5 Rating 31 Two at fault collision claims – with “Rating 1 for Life” Rating 1 N/A Rating 12 One storm, wind or hail. When you do not make any claim on your insurance policy, your NCD rate will increase, thereby lowering your car insurance premium. Reduced windscreen excess. 10%. No Claims Discount (sometimes called No Claims Bonus or NCD) rewards drivers who haven’t had a claim against their insurance policy for a certain period of time. From what I have seen, insurers tend to offer one or the other. A no-claims bonus, or NCB, is an easy way to get discounted.