Motorists with a nine-year clean slate of no claims are being warned not to hold their breath for further reductions on their car insurance premiums. Car insurance experts are advising drivers that after accumulating nine years of no claims, they're unlikely to be rewarded with additional discounts by insurers.
Greg Wilson, the founder of Quotezone.co.uk and an authority on car insurance, said: "With the soaring cost of car insurance, it's no surprise drivers are keen to protect their no claims discount. However, many may be unaware of the simple things that can invalidate their protection.
"Without realising, certain changes to the policy, such as becoming a named driver instead of the main driver or having a gap of more than two years, say across the pandemic when they weren't driving could wipe clean the no claims build-up and void the insurance policy."
Mr Wilson also pointed out the considerable influence a no claims discount can exert on the price of a policy, saying: "A no claims discount can be one of the biggest factors when it comes to the cost of a policy.
"Unfortunately, a lot of people perhaps don't know these big 'no no's' that can break their no claims and eradicate the discount they've built up.
"The difference between 0 and 5 years no claims bonus can be significant too, estimating 30 per cent for one claim-free year and 60 per cent for five claim-free years although again, each insurance provider may be different so drivers need to compare.
"No claims discount protection is another hot topic for discussion this year, customers need to check the details through with their insurer, get a quote with and without the additional protection for comparison and make sure their bonus is protected continuously should they decide to switch providers.
"Normally protected discounts allow drivers to makeup to two claims within a three to five year period without losing their no claims discount, but this can vary between insurers so be careful.
"A recent Quotezone survey found 39 per cent don't read their insurance terms and conditions in full, this has never been more important, with a surge in new products flooding the market to help make insurance more affordable, it's essential drivers check the details thoroughly and make sure they have adequate protection.
"It will not only help them stay on the right side of the law but also help them find real savings by shedding any extras they don't need."