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Mark Woodward
Business Development Manager

Your no claims discount and bonus protection in Spain

By Mark Woodward - Tue 6th Nov 2012

Everyone is looking for opportunities to reduce their insurance costs at the moment. Most people know that one of the key things that help to keep the cost down is your no claims bonus. This is a discount applied to the base rate based on the number of years you have held insurance without making a claim. If you make a claim your no claims bonus is reduced causing your insurance premium to rise at renewal.

Insurance claims are settled on a fault or non fault basis. To clarify this if you cannot claim from a third party to recoup your losses, in insurance terms this is a fault claim. To give a few examples if your car is stolen you cannot claim from anyone else so this is classed as a fault and you lose no claims bonus. If someone hits your vehicle in a car park and drives off without leaving details and the vehicle needs repairing then again this is classed as a fault claim. This can seem unfair, as obviously it is not your fault that someone decided to steal your car but you have to suffer at renewal time.

Ibex insurance now offer the opportunity to protect your no claims bonus, this means that in the event of a claim regardless of blame your no claims bonus remains intact. The Ibex protected no claims bonus allows up to two fault claims in any three year period. Not every insurer in Spain offers this and we recommend that you check your policy documents to see if you have this valuable cover. If you do not have this it may be worth contacting us at renewal time to add this to your policy.

Ibex Insurance is currently running a beat your renewal campaign on motor insurance for the months of October and November. If you have a policy due now then contact us straight away to save money. We guarantee to beat your renewal quote from your existing insurer (subject to certain terms and conditions).

Why not click the Banner (below) to submit a few basic details and see if we can beat your current Insurance quote ?

Comment on this Blog

Dear sir , I am hoping to live in Spain , for meny. years , I have a English number plate, on my car , it is due in June , 2016 , how long can I lnsurance my car with a U.K. Plate, for, can you tell me please Mr Walkinshaw
Mr David Walkinshaw - Sat, 28th May 2016

Deborah : You would probably find it cheaper and easier in the long run to sell your Spanish Car and buy and UK Car on your return, however if you chose to import your Spanish Vehicle you can read the exact procedure by clicking the link >> HERE <<.

Also, there are a small number of UK Insurance companies who can and will recognise and continue your Spanish NCB on a new UK Policy if you can provide written proof of this - Obtain this now if you can, before you terminate any Policy.

Tumbit - Admin - Mon, 22nd Apr 2013
Hi, I am English but have lived in Spain for the last 11.5 years....I am possibly returning n the next few months....when I came here, I had a full NCB and still I have to show my current insurance to prove the NCB? Also is it more practical to buy a RHD here in Spain than to return to the UK in my Spanish car? Many thanks,
Deborah - Mon, 22nd Apr 2013