No-Claims Discounts

No-claims discounts or bonuses are premium reductions which may be applied to an insurance policy when a policyholder does not incur any losses for a certain amount of time.

The logic behind this discount is that policyholders who go for long periods of time without incurring losses cost insurance companies less money. A sizeable loss-free discount can also encourage policyholders to make a stronger effort to prevent losses or even to avoid making claims for smaller losses.

Some insurers offer progressive loss-free discounts: The longer a policyholder remains loss-free, the higher the discount they receive. Other loss-free discounts remain the same year on year.

Most loss-free discounts are voided as soon as you claim on a loss. In this case, you are “downgraded” to a lower bonus-malus tier.

Loss-free discounts are offered by a number of Swiss insurance providers, including car insurance, pet insurance, legal expenses insurance, travel insurance, household insurance, hospital insurance and health insurance providers.

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Expert Benjamin Manz
Benjamin Manz is CEO of and an independent expert on banking and finance.