MyFinances.co.uk
News feeds Free newsletter

All the latest personal finance news - helping you make the most of your money

Ask the insurance expert

Do I still have a no claims bonus?

Wednesday, 24 Sep 2008 14:13
A reader from Birmingham is unsure after an accident if she will keep her no claims bonus (NCB) discount.

Ian Durrell, myfinances.co.uk insurance expert from the Only Group, which includes onlyinsurance.com, tackles the issue.

Patricia from Birmingham asks:

I don't understand NCB. I have two-years no claims but them was involved in an accident.

Do I lose all my NCB or do I still have one year's NCB?

Ian replies:

A claim will be classed as fault or non fault. It depends on whether the insurance company has to pay out or not.

If non fault it will not affect his NCB. If it is a fault claim it will wipe out both years unfortunately.

If you have a question for Ian, go to the myfinances.co.uk Ask the Insurance Expert section.

Only Group is authorised and regulated by the Financial Services Authority.



Disclaimer:
myfinances.co.uk is not authorised to give advice under the Financial Services and Markets Act 2000.

Terms:
By using this site, you are deemed to have accepted our terms of use.

myfinances poll 

2009 is set to be a tough year for the UK finances. We want to know what you are expecting. Vote now.

Free stuff 

Sign up for our free daily newsletter and other free stuff.