Protected No Claims bonus, is it worth it?

CL

Hi All

I just had two quotesfor insurance 350 without NCB protection and 400 with it. Now I have been told that this NCB protection is a bit of a con and even if you have it and have an accident your premiums will go up and also that it is only recognised by your current insurer i.e if you go to another company they treat you as if you have no bonus even though it was supposed to be protected, is this true?

Does anyone have any opinions on this

Thanks

Astaroth

The search tool is your friend:

http://forums.moneysavingexpert.com/showthread.html?t=218127

CL

Thanks Astaroth, I did try searching but I didn't see that post

shelly

Hubby has protected his NCB ever since he started driving. Its not true that if you change co's the new one won't recognise your NCD because we change co's every year and have never had a problem. They always recognise he has 10 years+ (even though they only count X amount of those)

CL

Hi Shelly,

Has your Husband had a claim in those 10 years though?

shelly

He has recently made his first ever claim. Totally my fault but if he hadn't had the protection he'd have gone down X amount of years, as it is he can make 2 claims without losing any of the 10+ yrs.

bristol_pilot

The bonus is (usually) a 'no claim' bonus, not a 'no fault' bonus, so you can lose years of no claims for an accident that was someone else's fault. I had a claim after my car was taken and damaged by joy riders the same year that I had just qualified for and taken out a protected no claim bonus. The Company did not load my base premium the following year. It is worth protecting a no claims bonus IMHO. It will be recognised by other companies if you switch.

gazza975526570

Your absolutely right its NCD/NCB - no claim discount/no claim bonus not a fault thing. And rightly so; if the insurer can reclaim their costs then i think its only fair your NCD is reduced accordingly/

As to wether its worth having i guess you need to consider what works best for you - personally ive always had it and although not had a claim for years i still consider it money well spent in case:
- someone bumps my car in a car park and disappears
- car gets stolen/broken into
or any other activity not my fault.

Tharweb

I asked a similar question prior to my renewal this January. I was asking about Guaranteed No Claims Protection policies rather than ordinary No Claims protection policies, where the insurer is supposed to allow unlimited claims rather than say 1 in 2 years, but it may be worth a read. http://forums.moneysavingexpert.com/showthread.html?t=133206

Basically it seems that More Than are the only insurers that promise they won't increase your premium even if you make a claim.