You won't earn the current year's no - claims bonus if you switch so you'll need to be making a substantial saving in order to make this work. (moneysavingexpert.com)
Also if you are eligible for a no - claim bonus from your current insurer, the insurer may not consider paying you for that. (policybazaar.com)
Experts say that one should check on the quantum of no - claim bonuses as they range from 5 per cent to as high as one - third of a basic cover. (indianexpress.com)