How To Find Out No Claims Bonus

Most people know they can get a no-claims bonus for their car. But did you lot know you can build no-claims discount on your habitation insurance besides?

Family sat at home making a house shape with their hands

A no-claims bonus (NCB) gives you lot money off next year's home insurance premiums, every bit a advantage for not claiming on your policy over the previous 12 months. It could be a great way of helping to cut the toll of your encompass.

It'due south also sometimes referred to every bit a no-claims disbelieve (NCD). We'll be using the terms interchangeably hither.

What is a home insurance no-claims bonus?

Some abode insurance companies offering customers a disbelieve as a reward for not making any buildings or contents insurance claims during a 12-month period.

This saves the insurer the cost of handling and paying those claims, and they laissez passer the savings onto their customers. So, it might exist in your interests to build up a no-claims discount because you tend to save money too.

The longer yous go without challenge, the bigger the disbelieve you could become. Typically you become upwardly to a maximum of four or five consecutive years' worth of NCB.

You could get a xxx% discount afterward going one year without claiming, ascension to as much 70% for five years, for case. It depends on the policy and the insurance company you cull.

Information technology could mean your premiums rise at a much slower footstep than they would otherwise.

How do I get a no-claims disbelieve on my home insurance?

The good news is that, on the whole, the easiest way to go a habitation insurance no-claims bonus is to do zero.

So long as y'all have a domicile insurance policy for a continuous 12-month period – and don't brand any claims – you should get a year's no-claims bonus.

Depending on your abode insurance provider, y'all could take separate no-claims discounts for your buildings and your contents insurance.

This could be useful for tenants who don't demand buildings insurance only who want to build upwards a no-claims discount on their contents insurance.

Compare home insurance quotes

How can I protect my no-claims bonus?

The challenge with building up a no-claims discount is that information technology could make y'all reluctant to claim on the policy.

Many people might then meet the cost of smaller claims from their own pocket. This may seem rather daft - what'due south the point of having insurance if you stop upwardly paying any claims yourself?

The point is that the policy is still there to meet the cost of expensive claims, such as fire, flood, burglary or a outburst piping. Hither, claiming makes more sense.

By paying smaller claims yourself, you lot might be able to keep the toll to a minimum.

When you make a claim, you tend to lose a year or so of your no-claims bonus. Some home insurance companies allow you protect your no-claims discount for an extra fee.

This protection usually allows yous to make i or two claims in a yr without impacting your no-claims bonus.

The all-time fashion of protecting your no-claims discount is to avoid having to brand a merits on your home insurance policy in the first identify. That means doing your all-time to deter thieves and forestall damage and accidents.

Yous should reduce the risk of a break-in by installing solid window and door locks , and even a burglar alarm system.

You should also continue your property maintenance upwards-to-appointment. By solving small problems today, you can preclude a bigger problem developing later.

Can I transfer my no-claims bonus if I switch home insurance providers?

Well-nigh insurance companies will accept no-claims discounts that you've built upward with some other insurer.

Considering they're portable, you're still free to save coin by shopping around for cheaper comprehend at renewal. When comparison online quotes, make sure you input your existing no-claims disbelieve.

Is the no-claims bonus for my home the same as the ane for my car?

You lot might be familiar with no-claims bonuses with your motorcar insurance policy. Information technology works in much the same way – for each year you don't claim, y'all tend to go an extra disbelieve on the following yr's premium.

At that place are a few key differences, though:

Dwelling insurance NCB comes in ii flavours – buildings and contents insurance.
Motorcar insurance companies separate 'mistake' and 'non-fault' claims. Not-fault claims are less likely to impact your NCB. Home insurance no-claims bonuses don't make this stardom.
Some car insurance companies let named drivers build their own no-claims bonus, or let you get a total yr's worth of NCD in 10 months. Dwelling insurance policies don't practise this.

How tin I reduce the chances of making a merits on my home insurance?

The nigh common types of home insurance claim tend to involve:

Burn down
Flood and storm damage
Theft and burglary
Accidental harm .

So, the best way to avoid making a claim is to minimise the risk of any of these things happening.

Avoiding fire damage

Install smoke detectors throughout your home, and cheque them regularly
Get your home'south electrics and wiring checked for safety
Get a burn coating or burn extinguisher
Make certain your business firm has an adequate fire escape.

Avoiding flood and storm impairment

Brand sure your guttering and drains are clear
Check your roof for loose tiles
Prune or crown your whatever trees that are close to the house.

Fugitive theft and burglary

Make sure your door locks and windows are locked – fifty-fifty when you're home
Install a burglar alert
Stash valuable and hard-to-supervene upon items and lock them up
Exist careful who you tell when you go on holiday.

Avoiding accidental impairment

Don't bite off more than yous can chew – hire a professional when the need arises
Keep breakables away out of attain of pets and children
Keep all liquids far away from anything of value.