Definitions for "No Claims Discount"
Keywords:  ncd, discount, bonus, ferrari, claim
Every year you have insurance but do not make a claim, you build up your NCD. This is measured in years and can give you up to 60% discount.
a discount from the premium given if there have been no claims in previous years. The discount increases according to the scale in the policy with every year that is free of claim. If a claim is made or incident notified the no claims discount is disallowed. In the event of the incident not materialising into a claim payment the no claims discount will be reinstated.
Most insurance companies offer an incentive to drive carefully and not make claims on your insurance policy so for each year you have an insurance policy and don't make a claim, you will receive a increasing discount on your next policy. Click on no claims discount for more information.