Meaning of the word "no-claims bonus" in English

What does "no-claims bonus" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

no-claims bonus

US /ˌnoʊ ˈkleɪmz ˌboʊ.nəs/
UK /ˌnoʊ ˈkleɪmz ˌboʊ.nəs/
"no-claims bonus" picture

Noun

1.

a reduction in the cost of your insurance because you have not made any claims

Example:
I got a significant no-claims bonus on my car insurance this year.
To maintain your no-claims bonus, you should avoid making small claims.
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