No Claims Bonus Protection Advised For Cash-strapped Householders
Motorists from Ireland who are keen to reduce the costs of running their vehicles ought to look for car insurance policies that can protect their no claims bonuses. Research has shown that the number of Irish drivers who are deciding to claim on their motor insurance is growing. Experts have suggested that the global credit slowdown has resulted in smaller disposable incomes for many people. So following a collision, drivers are less likely to fund car bills and are increasingly claiming on their insurance. In previous years, motorists have tended to bear the costs of garage bills that may have been covered by their insurance in order to prevent their premiums increasing and losing their no claims bonuses.
The cost of your car policy is dependent on the level of threat you and your motor poses to other drivers and the chances of your vehicle being stolen. So if you are an older female with a small car, you are seen as less of a risk to other road users and you will usually attract lower premiums because of this. At the other end of the scale, if you are young, male and have a modified car, your insurance policy will be more expensive. However, both of these drivers are likely to see a rise in their premiums if they have an accident and claim for the damage via their car insurance.
Insurers are keen to reward those motorists who are safer drivers by offering them a chance to build up their no claims bonuses. As you search for affordable car insurance, you may be interested in taking out a policy with a company that lowers their premiums on a yearly basis if you do not make any claims. After several years you are likely to find that your premium has dropped significantly and you are making more savings than previous years on the cost of your policy. However, if you then decide to use your insurance to fund repairs to your car you may find the premium increases again.
In order to prevent this, you may like to opt for a policy that can protect your no claims bonus. In this case, you can often use your insurance at least once to pay for your garage bills that result from incidents covered by your policy. This can help you to stretch your pennies further during the recession, while keeping your car insurance premiums low.
