Are you planning to replace your old car? If you have not claimed any insurance on your old car for more than a year, you are entitled to a discount on the own-damage part of your insurance policy. This discount is called no-claim bonus. For each year that passes without a claim, this discount goes up by 10%, up to a maximum of 50%. You can also avail this discount if you are changing your insurer and not your car, and vice-versa. Mint explains how you can reduce your insurance, even when you buy a new car.