NRMA discontinuing No Claim Bonus Car insurance

As above, my premiums have been very competitively priced with the NCB (65%) and loyalty discount (17.5%). For my car, RACV (same insurer essentially) was 2nd cheapest. I dont understand why people waste their money on NRMA insurance.
Review your excess levels to find the right balance between lower premiums and manageable out-of-pocket costs if you need to claim. Dropping two rating levels typically increases your annual premium by $300 to $600 for the next few years, making the claim financially worse than paying the full repair cost. If your excess is $700 and the damage costs $900, you only recover $200 from claiming. This add-on lets you make one at-fault claim per year without losing rating levels, though your base premium may still increase at renewal. A single at-fault claim can cost you more in increased premiums over the following years than the actual repair amount you claimed.
Understanding these mechanics helps you make smarter decisions about when to claim and how to keep your premiums as low as possible. We’ll also cover whether reaching the maximum rating actually guarantees you the cheapest insurance, and how to get the best value from your policy. A no claim bonus is a discount on your car insurance premium that rewards you for not making claims.
Using the photos you provide, we can get started on preparing an accurate quote for smash repairs. Explore what car insurance excess actually is and some of the key questions around this topic. We support you every step of the way, from managing car insurance claims to providing a replacement vehicle. Your local Sheen panel beating workshop is here to restore your vehicle to pre-accident condition.
Each insurance company uses different risk models and cost structures that produce varying base premiums. Calculate whether paying small repair bills yourself saves more money than claiming and losing two rating levels. Most insurers sell rating protection as an optional extra that costs around $50 to $150 annually. This two-level penalty applies regardless of claim size, so claiming $500 in damage costs you the same rating reduction as claiming $5,000. Making an at-fault claim drops your rating by two levels, which directly increases your premium at renewal. Understand how your insurance excess works and when you need to pay it.
I have my renewal for my vehicle from NRMA, due at the end of the month. Sometimes It’s close to cheapest, and easier to deal with than some of the others. If they are removing a marketing/fake discounts of “no claim bonus”, then they might as well adjust premiums to suit. I already renewed for the car this year but will have to conduct more rigorous analysis across all policies next time to compare options.
The longer you go without claiming, the more confidence your insurer has in your low-risk profile, allowing them to reduce your premium accordingly. Understanding what is a no claim bonus helps you see why insurers price policies this way. Your clean record signals you’re a safer driver, you maintain your vehicle properly, or you choose not to claim for minor damage. When you avoid making claims year after year, you prove you’re statistically less likely to cost the insurer money. Every year you go without filing a claim, your insurer increases your discount rating, which means you pay less for the same cover.
It works differently depending on the insurer, but generally it will let you make up to two claims without losing your no claim bonus. One of the big questions to ask yourself before taking out car insurance is whether you even want to bother with the no claim bonus. When you switch car insurance, it’s also worth looking at whether your new insurer will recognise your mobile no deposit bonus Australia claim bonus. The exact types of claims you can make without losing your bonus will be different depending on the insurer, so it’s a good idea to look at this if you’re planning on growing a no claim bonus. Providers may also offer no claim discount protection which let you make a specific number of at fault claims without it impacting your rating.
Each year you hold continuous insurance without making an at-fault claim, you move up one rating level. Australian insurers use a standardised rating scale from 1 to 6 to calculate your no claim bonus discount. Actuaries use your claims history as a key pricing variable alongside factors like age, location, and vehicle type. These behaviors all translate to reduced financial risk for the insurer, which they reward through premium discounts. Drivers who make no claims over several years cost insurers far less than those who claim regularly. This lets them confidently offer you a lower premium because the mathematical probability of having to pay out on your policy drops significantly. Your insurer calculates premiums based on risk assessment, and your claims history is one of the strongest predictors of future claims.