When do you claim on your car insurance?

It seems that nearly 40% of motorists are so concerned about losing their no claims bonus that they don’t make claims on their car insurance.

A no claims bonus is proof of a good driving record and used by insurers in calculating car insurance premiums.

With some providers you can get up to a 50% discount on your premiums with a top no claims bonus.

It’s worth comparing car insurance premiums and the no claims discounts offered by the different providers on comparison websites such Confused.com, Gocompare and Comparethemarket.com.

According to research from Confused.com, those over 55 are more likely to make a car insurance claim if the costs are greater than the excess.

Younger drivers are however more concerned about rising premiums if they lose their no claims bonus and some 66% of those aged beteen 18 and 24 avoid claiming because of this.

Head of motor insurance at Confused.com, Will Thomas, said ‘When it comes to making a claim, it is important to assess the financial impact it might have on insurance in the future, in terms of premium and no claims bonus. Although collecting years of no claims is beneficial, this should not deter people from making claims if they need to.’

For more information on car insurance you may find our article ‘Questions to ask as you choose your car insurance‘ useful.