HOLD ON TO YOUR NO CLAIMS BONUS FOR CAR INSURANCE. Page 2

SUMMARY: A No Claims Discount can really drive down the amount you pay out for insurance. That's why so many people resist ( personal secured loans ) claiming on a crash that costs less than £200.

By Bridget Carter

says: "If you make a claim, your NCD would step back two years, which would

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mean your discount is cut by about 20 per cent, "If you live in a large city and are in the highest premium bracket, a 20 per cent increase can make a big difference to the cost."

Talk to the Motor Insurance Manager at 'More Than' and they will ( loans ) tell you how important it is to check the exact wording of each policy, given that they all vary.

You can usually spend about £120 on excess, but again this is variable.

A spokeswoman for Direct Line says: "If a driver keeps ( mortgages ) having accidents, someone has got to pay for it.If it's not that particular driver, surely all the other customers must somehow be subsidising them."

Most insurers do give a reduction on premiums, a No-claims Discount (NCD) or No-claims Bonus (NCB), to people who have not claimed on their insurance so you ( remortgages ) should investigate the options. Discounts rise each year and the difference to the premiums can be considerable.

And while No Claims Discounts seems to be a big issue among many, according to some insurance companies, one firm, Churchill, disagrees.

Their Group Head of Motor Underwriting says this: "The overriding factor for people is whether they want comprehensive cover or third party, fire and theft. The level of NCD, and whether it's protected, and the excess are considerations, but I think these do play second fiddle to price."