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UK Young Driver Motor Insurance - Build Your Own No Claims Bonus or Insure through Your Parents This figure, depending on the Motor Insurance company can range from anywhere between 30% and 60%. These days many companies allow you to protect your No Claims Bonus by paying a small amount up front on your premium. This could be highly worthwhile when you consider how much your policy may end up going up in price next year given an accident this year. It is very important that young drivers build their No Claims Bonus. If you insure the car in a parents name, whilst there may be a cost advantage in Year 1, it may transpire that in years to come this becomes a false economy. The No Claims Bonus is a bonus weighed against the main driver. If a parent insures a car with a young driver on the policy then at renewal, the 30-40% disount you were expecting might be far less. « Previous Page « » Discuss it » Continue Reading »
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