Car Insurance - What You Need to Know About No Claims Bonus

What is No Claims Bonus?

When car insurance providers make quotes for drivers they do so based on a number of risk factors. One of these is the likelihood that the driver will make a claim against the policy that will cost the insurer money. Therefore if you can prove you offer a low chance of making a claim on your insurance then you can minimise your risk.

• A no claim bonus offers you the perfect way to do this. If you do not make any claims on your car insurance then over the years you will build up your no claims bonus.

• When you apply for quotes for new car insurance policies then you will be asked to provide details of any no claims bonus years that you hold.

• The bonus will minimise your risk and so can offer you some great savings on your new policy.

• Even one year of no claims could save you money on your car insurance.

Named Drivers

It is important to remember that only the policyholder will be eligible for the no claim bonus. This means if you have any named drivers on your policy then in most cases they will not accrue a bonus, even if they do not make any claims.

• Also if you use a company vehicle then in some cases you will not be building no claim bonuses up in your own name.

• For example if you are a limited company director and use company car insurance then you may not be able to transfer the no claims you build up over to your own name if you want to insure a private car in the future.

• Also those drivers that use vans insured by their employers under company policies may not be able to build up any no claims bonus that they can transfer across to privately owned vehicles.

Written Proof

These days with computer records the details of your no claims bonus should be clearly listed on your last policy. However in some cases you will be asked to provide written proof of your no claims bonus. Once you have achieved a years worth of no claim bonus then your car insurance company should provide you with written proof. If not then you need to contact them and ask for them to send you an up-to-date copy in writing.

If you are unable to prove your bonus when required you may lose any discounts provided in your new car insurance policy.

Multiple Vehicle Policies

You do need to check multiple vehicle policies carefully. In some cases you will only be able to use your bonus on a single vehicle at a time. Other policies will let you build up bonuses against different vehicles.

• If you have two completely separate insurance policies then you may be able to get a discount on your new policy based on the no claims bonus from your first vehicle.

• This is common with separate van insurance policies if you already have no claims on your car insurance.

• To get this type of discount you will need to provide the details of your car insurance no claims bonus to the new vehicle insurance provider.

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Auto Insurance Myths You Should Know About

Myth 1:

While this is not dangerous, it does stop some people from getting the car the really want. The myth is about the color of your car. There are those who believe that having a red car will drive up their insurance rates. This is simply not true. While red is a color associated with fast and sporty cars, insurance companies are much more interested in the cars make and model, as well as the engine size and the body style. The fact that the car is red is moot when it comes to your rates.

Myth 2:

If you drive an older model vehicle, you do not have to worry about having coverage for theft. This is a myth as well. Many people think that their older model car would never be a target for a car thief. However, statistics show that car jackers prefer older cars because they are easier targets than the newer models that likely have some type of alarm system and are harder to break into. No matter how old your car is, you want to be covered in the event that it is stolen.

Myth 3:

Some people truly believe that their auto insurance company can cancel their policy any time they want to. This is not true at all. Unless there is a valid reason for cancellation, no auto insurance company can legally cancel your insurance, and especially not without fair and proper warning beforehand. And why would they want to? Insurance companies thrive because of the business their customers give them and do not like losing people.

Myth 4:

I let my friend borrow my car and she caused an accident. Since she was driving, her insurance company is responsible for any damages. This is perhaps the biggest auto insurance myth there is. The reality is that the insurance company is following the activity of your car, not the one who is driving it. It if is your car and the policy is in your name, your friend is not the responsible party - you are. When all is said and done, you can turn around and sue your friend's insurance company for the damages you had to pay for, but that is a whole separate issue.

Myth 5:

No fault insurance has been a topic of much confusion for the unknowing driver. While some think that it means that an accident will not be marked as their fault even if it is, this is obviously not the way it works. No fault insurance simply means that you, and any others involved in an accident that you caused, are covered for any expenses that are immediately needed. This includes medical attention and car rentals. Other than that, the insurance companies will fight it out to see who is responsible for paying what.

Some auto insurance myths are common sense, but when in doubt run your questions by your insurance agent so there is no confusion later.

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Should You Care About the Quality of Your Banner?

Quality is something we all should care about no matter what we do, but some people say that banner advertisement is now obsolete. So, if we want to give it a try, should we care about the quality of the banner design or just create an ordinary banner for experiment and see if this mode of business promotion is effective or not. Well, what I think is that when people say that banner advertisement is obsolete then they are totally wrong. It's still a great way of attracting your market. Your banner on a relevant portal can help you bring a significant number of visitors to your business website or blog.

So, keeping this notion aside that this form of publicity is not fruitful, what we need to first discuss is that how it can be helpful. Only then we will be able to determine whether we should really care about the quality of the banner or not.

So, the first thing that we should discuss is that banners are still good for businesses in terms of creating your business identity and bringing relevant traffic to your site. However, to make it a huge success, you must display your banner on a portal that provides information relevant to your products and attracts your niche market. Since your target market will already be there, it will be easy for you to bring them to your website with a catchy and attractive banner. This will help you save time as you won't have to search for your target market. All you will have to do is to make a deal with the portal and get permission to display your banner. They may charge some amount, but if you think that the ROI will be good, then this strategy will be fruitful.

Having said that, we now know that how we can make banner advertisement successful. We now need to discuss how we can create a winning banner design. A winning banner design attracts your visitors and makes them click it. As a result, you drive targeted traffic to your website. To design a winning banner, you need to first check out the overall layout and design of the website where you want to display your banner. You need to share it with your designer and ask him or her to design a banner that will stand-out and look professional as well.

A professionally designed banner will help you attract your market. However, another important factor is your copy that will make your banner powerful. A weak copy won't get you the results you need. A compelling copy will make your potential buyers click the banner and visit your website. Ensure that you write a short copy. Do not write long sentences for your banner. You need to keep your message concise and powerful. This way it will be readable and won't look messy at all.

So, now you know how powerful a banner design can be for your business. Thus, to utilize its full power, you must care about its quality.

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