What is the difference between a No Claim discount (NCD), No Claim bonus (NCB) and Rating 1?
The terms No Claim Discount (NCD) and No Claim Bonus (NCB) have the same meaning – they both refer to a discount on the premium you pay for your car insurance. Whether or not you are awarded a NCD, and the amount of that discount, will be based on how likely it is that you will need to make a claim on your insurance.
About Rating 1
The scale used to calculate the level of risk that you will make a claim is linked to your driving history – i.e. the number of years you have been driving safely, and how many claims you have made in the past. As you gain more years of claim-free driving you will be offered a greater discount on your premium, until you reach the maximum discount amount. This maximum discount is called 'Rating 1'. Rating 1 can save you hundreds of dollars on your car insurance, year after year.
No Claim Discount Protection
With 1300 Insurance Comprehensive or Gold Comprehensive Car Insurance policies you have the option to purchase No Claim Discount Protection. This allows you to protect your valuable NCD even if you need to make a claim on your insurance. If you select this option with either of our comprehensive car insurance policies you are entitled to make one car insurance claim per 12-month period, or up to 2 claims in 3 years, without affecting the level of your NCD. Should you need to make more claims during that period your NCD will be reduced the next time you renew your policy.
Rating 1 for Life
With a Comprehensive or Gold Comprehensive Car Insurance policy from 1300 Insurance we offer an even more valuable feature: 'Rating 1 for Life'. You will automatically qualify for this great benefit if you take out No Claim Discount Protection and hold your policy continuously for 2 years without making a claim. Once you qualify for Rating 1 for Life you will automatically retain your Rating 1, regardless of how many claims you need to make, for as long as you continue to hold your 1300 Insurance policy with No Claim Discount Protection.
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- How can I save money on my car insurance?
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- What are the benefits of buying car insurance online?
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- How can I can adjust my level of car insurance cover and premium?
- What benefits should I seek out when choosing a car insurance policy?
- Why are my car insurance premiums different to my friends'?
- What is the difference between a vehicle's agreed and market value?
- What is the difference between comprehensive, third party fire and theft and third party property car insurance?
- What personal effects will be covered by my car insurance?
- Will I have to pay an excess if I make a claim on my car insurance?
- What is a no claim discount (NCD) and how does it affect my car insurance premiums?
- What is the difference between a No Claim discount (NCD), No Claim bonus (NCB) and Rating 1?
- What happens if I don't provide full information about my driving record, past accidents or claims when applying for my car insurance?
- I am having trouble buying my car insurance online, what should I do?
- Who is the underwriter for 1300 Insurance's car insurance?
- Will I lose my no claim discount if I have a car accident?
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.