RE: What`s the difference between a no – claims bonus ?
Jeanette a very well presented detailed answer . This is my fault for not wording it correctly I was looking for a more tongue in – cheek answer .
The answer I was hoping for was ` You lose your no claims bonus after a crash
a no-claims bonus involves car insurance. it is a discount an insured can earn for each year (up to 5, sometimes 8) they do not make a claim.
this saves the consumer money.
a banker’s bonus deals with the world of finance. it is monies paid to workers who increase the profits of that particular institution.
this costs the consumer money.
No claims bonus (NCB) is crucial to reducing car insurance premiums. Its worth varies from company to company. A NCB of five years or more, for example, can entitle drivers to a 60%-75% discount on car insurance premiums.
NCB is earned. Generally, for every year that a driver has insurance on a car without making a claim, they will earn another year’s NCB to a maximum of 5 years. Some companies offer further discounts for 6-8 years of claims-free driving, but generally the maximum figure is 5 years.
Bankers’ bonuses are traditionally paid or awarded to some workers in the finance industry at the end of the bank’s financial year. They are intended to reward employee behavior during that year that has increased the profits of the bank or some relevant part of its business (the bonus culture is usually associated with the investment banking divisions of banks), as shown by the annual accounts. Although calculated in respect of past service, payment of all or part of a bonus may be deferred and made contingent on subsequent events, such as future profitability or continuing employment; this is especially appropriate if the business done is of a kind which cannot be reliably valued at the end of a year.