Do I Lose My No Claims if Someone Crashes Into Me?
No one wants to be involved in a car accident, but it’s a fact of life that it can happen. If you’re unfortunate enough to be in a crash, you may be wondering if it will affect your no-claims bonus.
Your no-claims bonus is a reward for not making any claims on your car insurance policy. It can be a great way to save money on your premiums, so it’s important to understand how it works.
The short answer is that if you decide to claim for any damage, it will affect your no-claims bonus until your insurer can recover the costs from the other driver’s insurer. But a no-claims bonus is only relevant at the annual renewal of the policy.
So, if you’re involved in an accident and you make a claim, your no-claims bonus won’t be affected until the next renewal date. This means that if the accident happens in May 2022, your no-claims bonus won’t be affected until the renewal date in May 2023.
However, it’s important to note that your insurer may choose to increase your premiums at the next renewal date, even if your no-claims bonus isn’t affected. This is because they may view you as a higher risk driver due to the accident.
If you’re involved in an accident and you don’t make a claim, then your no-claims bonus won’t be affected. However, it’s important to remember that you may still be liable for any damage to the other driver’s vehicle, even if you don’t make a claim.
It’s also important to remember that if you do make a claim, you may be liable for any excess on your policy. This is the amount you’ll need to pay before your insurer will cover the costs of the claim.
In conclusion, if you’re involved in an accident and you decide to make a claim, it will affect your no-claims bonus until your insurer can recover the costs from the other driver’s insurer. However, your no-claims bonus won’t be affected until the next renewal date, which in this case is 25 May 2022.