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English definition of “no-claims bonus”

no-claims bonus

noun [C]     /ˌnəʊ.kleɪmzˈbəʊ.nəs/ US  /ˌnoʊ.kleɪmzˈboʊ-/ (also no-claims discount) UK
an amount by which someone's payment for insurance is reduced, especially for a motor vehicle, because they have not made any claims for a particular periodInsurance
(Definition of no-claims bonus noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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