2 weeks Ago By Luke Chillingsworth
Motorists could be at risk of increasing their car insurance costs by almost two-thirds by making two simple mistakes this Autumn . Experts at Quotezone warn road users could easily lose their “no claims discount” through simple errors which is likely to see bills skyrocket. According to the specialists, taking a break from driving or being switched to a second driver could actually end their no claims run.
Incorrectly reporting the wrong information to insurers is likely to backfire with individuals at risk of invalidating their entire agreement. Greg Wilson, CEO and car insurance expert at Quotezone stressed it was “essential” motorists have proper protection in place. He explained: “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. “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.” Quotezone has urged motorists to check their status online before taking out a new agreement to check all information is correct. According to a recent poll, 39 percent of policyholders don’t read their insurance terms and conditions in full.
It means over one-third of motorists are not aware of what could constitute a breach of policy. Having a solid no claims bonus is a surefire way to help cash-strapped road users save on their monthly premiums. Safe drivers without claims are considered less of a risk on the road with hefty discounts applied to bills.
Quotezone has claimed some motorists could make savings as high as 60 percent with a no claims discount in place. Greg commented: “The difference between 0 and 5 years no claims bonus can be significant too, estimating 30 percent for one claim-free year and 60 percent 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.
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