The A-Z Motor Insurance Guide.

When looking into buying motor insurance it can be a bit daunting when you come across all the terminology involved. So we have compiled a guide to insurance terminology.

Click on the relevant letter that the term or word begins with and find out what it means.

N

New-For-Old

This is the term applied as part of an insurance policy which given an item of property either being lost or destroyed would be replaced by a new piece of similar property.

No Claim Bonus (or Discount)

This is a reduction or discount applied to a renewal premium reflecting a claim-free record usually as part of a motor insurance policy. Policyholders can build these discounts up year on year, maybe even totalling up to around a 65% discount in some cases.