No Claims Bonus, this term is used quite alot when shopping around for car insurance quotes, but what does it mean? The following information will hopefully guide you into understanding what this term means and how it affects your choices when choosing the car insurance quote.
A basic definition is, for every year that a driver keeps their car insurance policy without making a claim is known as No Claims. There for a No Claims Bonus is basically a bonus which can be a discount in the amount they pay for their insurance policy, given to the driver based on the amount of years they have kept their insurance policy without making a claim.
The amount of discount given to the driver is dependant on the amount of years that the driver has not claimed on their insurance policy.
For multiple car insurance policies, each driver would have their own no claims, this means for every additional driver they would get their no claims and would be able to work up their own No Claims Bonus. No Claims cannot be shared between drivers.
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