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Motorists 'should protect no claims discount'

Many drivers risk losing a substantial amount of money by neglecting to protect the no claims discount on their car insurance policy, according to a new report.

Financial comparison website uSwitch.com has said that motorists who have built up a good no claims discount over a number of years should avoid losing it by investing in protection - something which can be done for as little as £30.72 a year on average.

Given the fact that, after one accident, insurance premiums go up by £92 a year on average, protecting the no claims bonus should make financial sense for the many car users who have achieved several years of careful driving, uSwitch advised.

Ashton Berkhauer, insurance expert at the site, also urged consumers to be savvy and shop around for the best cover possible.

He said: "Choosing a policy should be based on good value for money and getting the most comprehensive policy for your needs.

"The cheapest quote may not always provide all the features that consumers need from their car insurance."

Sainsbury's Bank recently reported that the annual cost of driving has increased by 2.6 per cent on 2006 and now stands at £2,259. A personal loan can make motoring expenses more manageable.

See how much you could borrow with a motor loan from Lombard Direct.

© Adfero Ltd

28/09/2007 16:19:44

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