Keep your no claims discount, says motor car insurance expert

One motor car insurance expert recently spoke out on both the risks and rewards inherent in  preserving a no claims discount on car insurance.’s car insurance head Steve Sweeney stated that building up and preserving your no claims discount over the course of several years can be quite valuable, as it can easily lead to cheaper car insurance by reducing premium costs dramatically.

It may even be more cost-effective to retain your no claims discount in the face of car insurance rate hikes than it would be to switch insurance companies, says Mr Sweeney.  One example given by the insurance expert was  gladly paying an increased premium in order to preserve a hard-earned five year no claims discount.

Mr Sweeney was quick to caution motorists on the downside to holding out, however, since the potential for any savings will erode slowly over time if several years elapse without making a claim.

For those looking for discount car insurance in addition to protecting your no claims discount, shopping around is one viable option, says Mr Sweeney, as no claims bonuses are usually transferable.

Understanding that many factors influence not only a motorist’s premiums but also any additional fees they may be responsible for paying is important, says the insurance expert.  These factors, such as the motorist’s driving history and their personal circumstances, and of course the differences from one insurer to the next, can make these rates and fees vary wildly, stated Mr Sweeney.

Finally the car insurance insider stated that it was worth keeping in mind that a no claims discount is independent of premium price, so paying more to protect such a discount may still result in an increased premium in the event of making a claim.

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