Hi ,

It's Zest! Hope you're doing well!

No Claim Discount (NCD) for car insurance is a fantastic way to save money on your premiums!

If you go a year or more without making an insurance claim, your insurer will give you a discount on your premium when you renew. The longer you drive without an accident, the bigger the discount. It's like getting a pat on the back and a thank you from your insurer for being a careful driver.

Drivers of private cars can accumulate up to 50% NCD over five years if they do not have an “at-fault” accident. However, in the unfortunate event that you do have to make a claim under your policy, your NCD will be reduced, as shown in the table below;

Your NCD will be reduced by 30% for each at-fault accident. Hence, if you made more than 2 claims within a policy year, your NCD will be reduced to 0%.

However.....

.....some insurers offer protection on your NCD in the event of a claim. Here is how the NCD entitlement is affected based on the number of claims made during the insurance period:

Do take note that the protected NCD might not transfer if you switch insurers, and it won’t shield you from policy cancellation or non-renewal by your current insurer.

If you’ve had an accident and are thinking about your options, it’s wise to compare them. Sometimes, a 20% discount from a new insurer might be cheaper than sticking with your protected 50% NCD premium.

Confused? No worries! That's what I’m here for!

I can help you figure out the best options for your situation and make sure you’re getting the most bang for your buck.

Reach out if you have any questions or need some guidance on your car insurance.

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Zest Chia

Executive Wealth Consultant | Associate Estate Planning Practitioner |

Licensed General Insurance Advisory

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