It takes 5 years to accumulate the maximum no claims bonus, and can be lost as well as gained. But although drivers are fully aware of the importance of building up and maintaining their no claims bonus, not many are aware of the various ways of protecting or safe-guarding it.
Dorset (PRWEB) December 17, 2008
When you're getting a quote for a new car insurance policy, the 'no claims bonus' is always a key part of the process. After all, it's an important bargaining point and, depending on how many years' no claims bonus you have, it can represent substantial savings and knock anything from 50% to 75% off the total cost of an annual premium. But how do you protect this valuable asset, and take full advantage of its benefits?
"A no claims bonus is something that is earned, and is a reward for drivers who have not had to make a claim on their insurance for a period of time", says RIAS Managing Director Janet Connor. "It takes 5 years to accumulate the maximum no claims bonus, and can be lost as well as gained. But although drivers are fully aware of the importance of building up and maintaining their no claims bonus, not many are aware of the various ways of protecting or safe-guarding it."
The following is a guide from RIAS, which specialises in providing insurance for the over 50s:
- Drivers can sometimes pay a little extra to protect their no claims bonus - however, if two claims are made in quick succession, this protection may be invalidated, and it may be difficult to pay-to-protect again.
- Remember, it's a no claims bonus, and not a no fault bonus. Whether or not you are responsible for an accident, if you make any kind of claim and your insurance company cannot claim all their outlay from someone else, you are at risk of losing all or some of your no claims bonus.
- Avoid accidents as much as possible: always observe the Highway Code, drive carefully and observe the rules of the road.
- Concentrate on your driving and don't take unnecessary risks (ie: driving under the influence of alcohol, driving when excessively tired, undertaking avoidable journeys in adverse weather conditions).
- Don't allow yourself to be distracted at the wheel - don't use MP3 players, mobile phones and other gadgets
- Make regular checks of your vehicle and make sure it's in good working order - regular servicing also helps
- In the event of an accident or damage causing minor repairs, it is advisable to balance the cost of paying for the repair yourself against the cost of losing your no claims bonus
Janet Connor, Managing Director of RIAS is available for further comment and interview. To arrange an interview with, or photography of, Janet, please call Simon Robinson on 07976 329823 or e-mail firstname.lastname@example.org.
- RIAS was established in 1992 and is a specialist provider of insurance products including home insurance for the over 50s age group
- RIAS negotiates with a panel of insurers to secure competitive, value for money products
- RIAS has over 970,000 customers and employs over 1,100 people across two locations - Bournemouth and Belfast
- In December 2007 RIAS won the 'Personal Lines Broker of the year' award at the Insurance Times awards
- RIAS was ranked 2nd in the 2008 Auto Express Driver Power Survey on motor insurance and was rated best for claims payout
- In August 2008 RIAS was awarded 2nd place by Which? magazine for home insurance customer satisfaction and rated best for settlement time on claims
- RIAS received a Commendation at the 2008 CCF European Call Centre awards in the 'best people practice' category
- RIAS was a finalist at the 2008 UK Broker Awards in the 'Intermediary of the Year' category
- RIAS is a finalist at the 2008 Insurance Times Awards in the 'Personal Lines broker of the year'
RIAS is part of Fortis (Insurance UK), a leading provider of award-winning personal and commercial lines insurance solutions in the UK and the 2007 British Insurance Awards 'General Insurer of the Year'. The insurer's successful customer-centric strategy has been founded on aligning its activities to how customers want to buy insurance, combined with delivering high quality products, manufactured at costs better than market norms.
Fortis's unique multi-distribution capability enables it to deliver products face-to-face, by phone (inbound and outbound), over the Internet and via SMS technology. Aligning its business activities with its partners' general insurance strategies enables Fortis to offer end-to-end white label capabilities in product development, marketing, campaign management, sales, fulfilment and claims - providing a seamless integration with partner brands.
Insuring in excess of 6.7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs 2,901 people as of 31/12/07 with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, Redditch, and Stoke-on-Trent. In 2007, its profit before tax and interest (excluding impact of weather related events) was £92.2 million and its GWP was 757.8 million.