No Claims Discount (NCD) is also referred to as No Claims Bonus (NCB) and is accumulated each year that no claims are made on an insurance policy, either by the policy holder or a third-party.
When getting a quote for motorbike insurance, insurers will ask about NCD, as it’s designed to give safe riders the best premium. NCD is built up every year insurance is continuously held without any claims, so the price of a motorbike insurance policy may be reduced thanks to the discount for no claims.
Proof of NCD will always be required when taking out motorcycle insurance, and you can get a quick and easy quote with Carole Nash today on 0800 804 7952.
What Proof Do I Need For My No Claims Discount?
Before any NCD can be added onto your motorbike insurance policy, you’ll have 14 days from inception to provide proof.
Proof is usually either:
- The last renewal invite letter from your previous insurer.
- The cancellation letter from your previous insurer.
- Or a letter titled “Proof of NCB”
Keep in mind that your proof of no claims discount will need to be in your name (if you are the policy holder), dated within the last two years, and clearly show how many years no claims you have.
How Can I Lose My No Claims Discount?
If you do end up making a claim on your own motorbike insurance, then your NCD will be affected, unless PNCD. In some cases it won’t be, for example if you’re in an accident that isn’t your fault and the third-party has to claim on their insurance, your insurer can recover the costs back.
However, if the third-party was uninsured, or if you’re claiming because your bike was stolen, you likely lose your NCD. How many years of NCD you actually lose can vary depending on the insurer, so it’s always important to check your policy documents.
Keep in mind that insurers will generally only accept proof of no claims up to two years old. So, if you haven’t had motorbike insurance in place for more than two years, you may lose any NCD you had previously built up.
Can I Protect My No Claims Discount?
Yes. You will have the opportunity to protect your accumulated no claims discount with a motorbike insurance policy. However, most insurers will only offer PNCB if the proposer has 4 years +.
Of course opting to protect your no claims will increase the premium of your policy, but if you were to make a claim on your insurance you can save your NCD from being decreased or losing it completely. NCD protection is always optional and must be selected when you first take out the motorbike insurance, as it cannot be added on during the term of the policy.
Can I Transfer No Claims Discount From My Car Insurance?
If you were looking to transfer NCD from a car insurance to a motorcycle insurance then this won’t be possible, as no claims aren’t transferable between different types of vehicles.
You’ll only be able to transfer NCB from the same vehicle when purchasing a brand new insurance policy. Provided they’re not already in use.
How Much Discount Will I Get?
The amount of no claims discount that you’ll get off your motorbike insurance premium will vary depending on the insurer. Normally the discount will increase each year that you don’t make a claim, usually up to a maximum of 9 years.
So, if you’re looking for a quote on motorbike insurance using your NCD today, with Carole Nash it couldn’t be easier.
Simply fill out our online form or give us a quick call now on 0800 804 7952.