Cover tailored to your needs

While motor trade insurance is an added cost for your business, it could be considered essential for protecting your trade. Thankfully, though, motor trade cover doesn't have to cost a fortune. With Gallagher, you could benefit from a discount on your policy with our motor trade no-claims bonus. Find out how Gallagher can save you money.

What is a no-claims bonus?

Applying a no-claims bonus is an easy way to cut the cost of your motor trade insurance premium. It works by giving you a discount when renewing your policy, based on the number of years you've had insurance without making any claims.

How do you build up a no-claims bonus?

You accrue a motor trade no-claims bonus for every year that you don't make a claim. When it's time to renew your premium, insurers usually apply a discount depending on this period.

The discount you receive generally increases for each claim-free year. However, some insurers place limits on this, so the discount remains the same after a certain number of years. For example, the amount you save could increase gradually up to 5 years, which is then capped at 50% for every following year.

At Gallagher, we offer a gradual discount up to a maximum of 8 years, so that you're continuously rewarded.

How much can a no-claims bonus save you?

Purchasing motor trade insurance without a no-claims bonus means you could pay much more than needed. In some cases, a no-claims bonus could save you 50% (or more) on your total premium.

However, the discount you receive will vary from insurer to insurer and is based on your number of claim-free years.

How long before you save money with a motor trade no-claims bonus?

It usually takes one full year of no claims. That said, if you transfer a bonus from a private policy, you might save money right away.

How to protect your motor trade no-claims bonus

You may lose some or even all your motor trade no-claims bonus in the event of an accident. For this reason, many people choose to protect their no-claims bonus by paying an extra fee. This means that you don't lose all your bonuses even if you need to submit a claim.

Remember, every insurer is different. Some insurers will protect your entire no-claims discount, no matter how many accidents occur. In contrast, others may reduce your no-claims bonus if you make more than one claim over a set period.

It's also important to note that even if your no-claims bonus is protected, it doesn't mean you're guaranteed protection if you move to a new insurer. Therefore, always check with your new insurer to see if they'll keep your bonus, especially if you've claimed under your previous policy.

Why choose Gallagher for motor trade insurance?

Gallagher believes in comprehensive cover with fair prices. Our specialists help you find a suitable deal on your motor trade insurance, so that you pay only for what your business requires. Plus, with up to 8 years of no-claims bonuses and added protection, you gradually pay less over the time you're with us. To see if you could get a discount, speak with one of our Gallagher specialists today. Call us on 0800 062 2312 or get a quote online in minutes.

No-Claims Motor Trade Insurance

  • Discounts accrued for up to 8 years of no claims
  • Transfer no claims from your private car policy
  • Potentially save up to 50% with a no-claims bonus

Policy limits and exclusions may apply, please see the policy wording for full terms and conditions.

  • Gallagher Road Risk Team