Farm Insurance No Claim Bonus

No Claim Bonus

A No Claim Bonus¹ is a discount that can be earned on eligible Comprehensive policies in recognition of a claims-free record.

The No Claim Bonus discount that applies to your motor vehicle basic premium is shown in your current Policy Schedule.

No Claim Bonus is calculated on each eligible vehicle insured under your motor vehicle policy unless your claims history does not entitle you to a No Claim Bonus.

We calculate your No Claim Bonus rating based on the claims history of you and any other policyholders. For each year there is no at-fault claims made on a vehicle under your policy, we allow a discount from the basic premium for that vehicle. The discount increases each claims-free year you have for a vehicle until the maximum is reached.

Each year at renewal, your vehicle’s No Claim Bonus is re-calculated.

Losing your No Claim Bonus

In all other cases, at the next renewal you will lose part of your No Claim Bonus for a vehicle following each at-fault claim made in respect of that vehicle. The discount then increases again after each claim free year you have for a vehicle up to the maximum.

Maximum No Claim Bonus protection

If your vehicle is eligible for the ‘No Claim Bonus Protection’ option, your current Policy Schedule will show “No Claim Bonus Protected” when the option has been selected.

You will be protected for the first at-fault claim for each of your eligible vehicle(s) insured under your policy during each period of insurance if you have paid the additional premium required.

You are entitled to make one claim each Period of Insurance without losing the No Claim Bonus if the vehicle:

1. Has a carrying capacity of less than 2 tonnes; and
2. Is receiving our maximum No Claim Bonus discount.

We will reduce your no claim bonus for a vehicle at the renewal of your policy if you have any further claims. You will not lose any No Claim Bonus with us on renewal if:

1. Your claim involves a collision in which we are satisfied the other driver was completely at-fault and you give us the correct name and address of the other driver and vehicle registration number, or
2. Your claim is only for window glass in a single accident.

Things you should know

¹ Any applicable discounts may be subject to minimum premiums. Discounts only apply until a minimum premium is reached. When we determine your premium on renewal, we may also limit any increases or decreases in your premium by considering factors such as your previous year’s premium amount.