Keep Your Bonus When You Switch: The Truth About No Claims Discounts
Demystifying your No Claims Bonus
Still Driving Claim-Free? You Deserve a Reward
If you've been driving for years without making an insurance claim, congratulations! Your careful driving habits aren't just keeping you safe on Ireland's roads—they should also be saving you a pretty penny on your car insurance.
Yet many Irish drivers don't realise just how valuable their claim-free history really is, or worse, they stay with their current insurer out of fear they'll lose their hard-earned discount if they switch. Let's set the record straight.
What Is a No Claims Bonus?
A No Claims Bonus (NCB), sometimes called a No Claims Discount (NCD), is essentially a reward for being a safe driver. For each year you drive without making a claim on your insurance policy, you earn another year on your NCB.
The more years you build up, the greater your discount becomes. In fact, with Chill Insurance, drivers who have maintained 6 or more claim-free years can enjoy up to 67% off their premium. That's a substantial saving that recognises your consistent safe driving.
Not the main policyholder? Good news for named drivers too! If you're currently a named driver on someone else's policy—perhaps as a young driver on your parents' insurance—you can still build up what's called "named driver experience." While this won't give you the full NCB that the main policyholder receives, it will still translate into valuable discounts when you eventually take out your own policy.
Do You Lose Your No Claims Bonus When You Switch to a New Insurer?
This is perhaps the biggest myth in car insurance, and we're here to debunk it once and for all:
No, you do not lose your No Claims Bonus when you switch insurers.
Your NCB belongs to you, not your insurance company. It follows you from insurer to insurer throughout your driving career. All you need is proof of your no claims history from your previous insurance provider, and your new insurer will honour those claim-free years.
However, we understand that this is where many drivers hit a roadblock. Getting hold of your NCB proof can sometimes feel like a hassle. You might need to call your current insurer, wait on hold, request the document, and then wait for it to arrive. For many busy people, this perceived hassle is enough to keep them from switching—even when there are better deals available elsewhere.
And that's where you could be missing out on significant savings.
Save Money Without Losing Your Bonus
Are you among the 35% of Irish drivers who don't shop around at renewal time? Our research shows that these drivers could be significantly overpaying on their insurance or missing out on better coverage options.
Maybe you're sticking with your current insurer because you don't know how to transfer your No Claims Bonus. Or perhaps the thought of sorting through paperwork at renewal time feels overwhelming.
Beyond just maintaining your NCB, we also offer something many drivers find invaluable: No Claims Bonus Protection. This optional extra allows you to make a claim without losing your entire discount. Essentially, it's insurance for your insurance discount! While there may be a small additional cost upfront, protecting your NCB can lead to substantial savings over the long term, especially if you need to make an unexpected claim.
Ready to Make Your No Claims Bonus Work Harder for You?
Don't let myths about No Claims Bonuses keep you from finding the best deal on your car insurance. Your years of careful driving should be rewarded with the highest possible discount, no matter which insurer you choose.
Visit car insurance today and see how much you could save while keeping every year of your hard-earned No Claims Bonus intact.
Or give us a call on 01 400 3400, and our friendly team will guide you through the process and answer any questions you might have about transferring your NCB or protecting it for the future.
