After you've acquired your no claims discount on your transit van insurance, you may choose to pay a small extra fee to protect this discount. This means that if you should have to make a claim, you will not lose your discount. Since the payment for protecting this discount is much smaller than the discount itself, this can be a very good idea. If your van insurance provider offers you this option, it's a good choice.
People who do not choose to protect their no claims discount will probably find that their transit van insurance provider will reduce the no claims discount by two years in the event of a claim. There is no way other than paying for the protection of your discount to avoid having your no claims discount affected by the filing of a claim. The only other option is not under your control. Should your transit van insurance company be able to recover the cost of the claim from the other party involved in the accident, you may be able to retain your discount. Unfortunately, this is not something you can rely on. The other driver may not even be insured.
If a claim is in process, or if your transit van insurance provider is expecting you to make a claim soon, you may have your discount reduced when you renew. However, if the insurer doesn't have to pay once the claim is resolved, you may be able to reinstate the discount. This can be a time consuming venture, however, depending on your insurance provider. Because of this, be sure to pay to protect your no claims discount. This will prevent you from having to worry about whether or not a claim in progress will affect your premiums. This is a very small expense compared to the amount you save by having the discount, and is worth the expenditure.
By: Peter Fitzpatrick
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