Motor Trades Insurance No Claim Bonus
No Claim Bonus
A No Claim Bonus1 is a discount that can be earned on eligible comprehensive policies in recognition of a claims-free record.
No Claim Bonus is calculated on each eligible vehicle insured under your motor vehicle policy unless your claims history does not entitle you to a No Claim Bonus.
We calculate your No Claim Bonus rating based on:
- The claims history of you and any other policyholders and
- The number of years you and any other policyholders have been licenced for.
For each year there is no at-fault claims made on a vehicle under your policy, we allow a discount from the basic premium for that vehicle. The discount increases each claims-free year you have for a vehicle until the maximum is reached.
The No Claim Bonus discount that applies to your basic premium is shown in your current Policy Schedule.
Each year at renewal, your vehicle’s No Claim Bonus is re-calculated.
You will not lose the No Claim Bonus applicable to the Specified Vehicle, if the Specified Vehicle was involved in an accident if:
- (a) You can provide us with the name and address of the other driver and the registration number of the other vehicle; and
(b) The driver of the other vehicle was entirely at-fault for the accident.
- Your claim is only for window glass in a single accident.
We will decide who is at-fault. In order for us to resolve whether you or another person was at-fault, we may request additional information – for example witness statements or photographs – and consider any laws, bylaws or rules that may apply to the claim circumstances.
In all other cases, at the next renewal you will lose part of your No Claim Bonus following each at-fault claim. The discount then increases again after each claims-free year up to the maximum
Maximum No Claim Bonus protection – specified vehicles
If your vehicle is eligible for the 'Maximum No Claim Bonus protection’ option, your current Policy Schedule will show “No Claims Bonus protected” when the option has been selected.
You are entitled to make one claim in the Period of Insurance without losing the No Claim Bonus applicable to the Specified Vehicle, if the Specified Vehicle:
- has a carrying capacity of less than 2 tonnes; and
- is receiving our maximum No Claim Bonus discount.
Things you should know
1 Any applicable discounts may be subject to minimum premiums. Discounts only apply until a minimum premium is reached. When we determine your premium on renewal, we may also limit any increases or decreases in your premium by considering factors such as your previous year’s premium amount.