Home Insurance NCB

No claims bonus for home insurance works exactly the same way as you would expect from your car insurance. If you dont make a claim for a year you will earn one years no claims bonus and you can normally get around 30% discount off of your home insurance premium for the follwoign year. Customers who have earned five years no claims bonus can expect to receieve up to 70% discount.

Its also worth checking whether any no claims bonus you earn is seperated into contents and buildings as these are two seperate policies normally even if they are with the same provider and discount can be earned on each individual policy. Before making a claim, its often working out the pros and cons of making a claim to see whether or not it’s more beneficial to pay for any minor claims yourself to allow you to keep your no claims bonus.

Protect Your No Claims Bonus

In the same way as car insurance, you can choose to protect your no claims bonus one you have accrued four years or more. This usually costs an additional premium on the policy but can be worth it should you need to make a major claim and not want to lose your hard earned no claims bonus. You can also take your own steps to help protect your no claims bonus by increasing security at your house by installing an alarm or improving the locks on doors and windows. If you live near water its also worth taking extra precautions against the risk of flooding.