Is it necessary to protect no claims bonus?!

rinol

The cheapest insurance quote i've got is by Endsleigh insurance..however they do not protect your no claims bonus...(have 10 years protected)...Just want to know if its necessary to protect my no claims?...:cool:

dacouch

The vast majority of people in the Insurance industry would say it is generally worth protecting your no claims bonus as it gives you peace of mind and can save you money if you have a claim or two.

We recently had a "Discussion" on the fors and againsts of it which is here...
http://forums.moneysavingexpert.com/showthread.html?t=1481341&highlight=jonboy

If you read Quote and Scotsman4ths notes as they give good examples of the possible cost savings. To get a balanced view try and read the whoe discussion.

dacouch

Which Insurance Company have Endsligh quoted you with?

Do you know how much your excess is?

Did you know Quidco are giving £45 cash back on Ednsleigh Policies (Quidco service appears a bit up and down at the moment though).

Have you tried Moneysavingsupermarkets quote system? http://www.moneysavingexpert.com/insurance/compare-cheap-car-insurance

mcjordi

im not bothering protecting my no claims as it doubles the cost of my policy

well quadruples it if you take into account my cashback from quidco

Quote

mcjordi wrote: »

im not bothering protecting my no claims as it doubles the cost of my policy

well quadruples it if you take into account my cashback from quidco

This sort of attitude stinks.

Doubles? Quadruples? I take it you're not paying much for your insurance then?

If you can't afford to lose your NCD then you should protect it. And not many people can afford to lose it.

mcjordi

how does it stink?? i barely drive my car anyway

haggle_2

For me it wouldnt have.

Just lost my no claims with direct line and my policy has only gone up by £4 a month.

Quote

haggle wrote: »

For me it wouldnt have.

Just lost my no claims with direct line and my policy has only gone up by £4 a month.

This doesn't really mean a great deal.

How many years did you have and how many do you have now? How old were you then and now? How much were you paying in total before and how much are you paying now? It's a percentages game.

Suppose base rates for insurances double in the next twelve months. Usually when you make a claim your NCD is stepped back two years. So your policy might only be £4 a month more NOW, but what about next renewal?

Think.

Quote

mcjordi wrote: »

how does it stink?? i barely drive my car anyway

Then why do you want a newer one?

missile

Quote wrote: »

Then why do you want a newer one?

............ + sell it and save loads of money:rotfl: