No Claims Bonus and Long Term Agreement Discounts

At Champions we appreciate that insurance and risk management is a partnership between the insurer/reinsurers and the client.

NO CLAIMS BONUS

Accordingly we offer No Claim Bonus Discounts at the end of each insurance period as a reward for clients who implement effective loss reducing risk management initiatives. Discounts vary depending on the policy type, and where one has had a discount in one period and experiences a bad run in another period, the No Claim Bonus provisions will work in reverse by adjusting the rates upwards to equate with the increasing losses. Discounts are flat 10% for non motor insurances and on motor a sliding scale from 0-50% is used.

The Claim Free period earned at another insurance company is recognised and rewarded at Champions so you can earn the discount if you can prove that you had a claim-free year in the expiring insurance period elsewhere by obtaining written confirmation from the previous insurer.

LONG TERM AGREEMENT DISCOUNTS

At Champions we also recognise long term relationships by allowing renewal discounts as follows: 5 years continuous insurance…5% discount and 10 years continuous insurance..10% discount.