Car Insurance Features
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No matter what insurance policy you choose, you need to be aware of certain features that can affect the price you pay.
The voluntary excess
The voluntary excess is how much you are willing to pay yourself towards damage or repairs to both the other drivers and their vehicles, or to yourself and your vehicle. In general, the less voluntary excess you want to pay the more expensive the policy.
No claims discount
If you haven’t made a claim before, or have driven for a long time without making a claim, the insurance company will see you as less of a risk and reward you for not claiming. You will receive a discount on the cost of your insurance policy, and is called a ‘no claims discount’. Some insurers offer discounts of over 60%!
The longer you go without making a claim, the larger the no claims discount is. But no matter of how much of a safer driver you are, accidents can happen – and you could lose this valuable discount and see your premiums rocket!
It’s therefore possible to insure your no claims discount by adding a no claims bonus protection to your policy. Although it will cost a bit more, protecting your no claims discount will allow you to make a claim within a set period, without losing it. This could help you save money in the long run.
