Look out for no-claims discounts on home insurance, says the ABI

An increasing number of home insurance providers are offering no-claims bonuses, according to the Association of British Insurers (ABI).

In a similar way to car insurance, homeowners are entitled to a discount on their insurance if they do not make any claims over a period of time.

“It is something that people may want to look out for when they are making their choice of home insurance provider,” said Jonathan French, assistant director of media relations at the ABI.

He recommended that anyone looking for home insurance – whether renewing or buying for the first time – should take a good look at what is available on the market.

The ABI advises all homeowners to try and protect their no-claims bonuses by ensuring their property is as secure as possible. Installing burglar alarms and locks on windows and doors can be an effective way of deterring thieves.

According to the ABI, the UK insurance industry paid out £64 million a day in claims during 2006.

© Adfero Ltd

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