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Secure A No-claims Discount With Discount Protection

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Secure A No-claims Discount With Discount Protection
Secure A No-claims Discount With Discount Protection

Video: Secure A No-claims Discount With Discount Protection

Video: Secure A No-claims Discount With Discount Protection
Video: Wise Owl Series (Eps 5) - No Claims Bonus, Proof of NCB & Protected NCB 2023, June
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Drivers should think about taking out discount protection before taking out car insurance. This means that in the event of damage, a discount can be downgraded.

Anyone who slips their car on a wet road and hits the vehicle in front of them must have fully comprehensive insurance paid for their damage or pay for it themselves. The latter can be the cheaper option for minor damage under 1000 euros. Motor insurance companies react to damage with a discount downgrade - and this can be more expensive than paying for a small damage yourself. From which amount of damage it is worth paying for yourself depends on the no-claims class and the amount of the deductible, explains Jürgen Maaß, spokesman for the Association of German Insurance Merchants (BVK).

Discount protection against surcharge

Many insurance companies calculate both options for the insured so that they can opt for the cheaper one even after the claim has been settled. Another option is what is known as discount protection, explains Maaß. "This is included in most tariffs or can be booked for an additional fee."

Depending on the provider, the surcharge is around 15 to 20 percent of the insurance premium. For policyholders, this has the advantage that they are not downgraded by their insurance company in the event of damage in the no-claims class. The discount protection is tied to the insurance company. That means that it is valid until the insured person changes insurance, explains Maaß. (dpa)

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