Bargain hunting is something we as specialist motor trader brokers are very used to. It hasn't quite come down to 50% off down the supermarket aisle but we certainly understand loyalty as much as a retailer does. In our industry we have a phrase "mirror a no claims bonus." This basically means that an insurer may or may not take into account or mirror a private car bonus. An insurer will inform you whether they are able to match or transfer no claims bonuses from private car usage. Some don't and some do, but what if they do, what discounts will car no claims bonus do for my traders insurance?
You would have thought that, statistically, if something hasn't happened in five years, it's more likely to occur in the sixth year. Not so with insurance. The UK's top insurers believe that a no risk driver remains that way based on their driving history. If you are new to driving or a young driver, you get rewarded for not claiming on your policy. If you manage one year, you are still considered wonderful. Manage five or more years without accidents or claims under your belt and you are seen as a divine God.
So what discounts will car no claims bonus do for my traders insurance? Does it depend on age, or are there any other criteria? Firstly we accept no claims bonuses from private car usage as well as transfer motor trade NCBs from similar policies. You can receive as much as 50% off for five years of no claims with some insurers, a huge no claims bonus discount simply for driving your own private car correctly and within the legal limits of the law. Perhaps that is worthy of a shopping trolley run.