Is No Claim Bonus Protection worth it?

Quentin

geordie_ben wrote: »

I didnt check. i just went on the basis of if i had an accident at fault i'd loose all my no claims. is that right?

No.

The max NCD used (as far as losing it following a fault claim) is 5 years. If you have a fault claim, then you lose 2 years (and none is awarded for the year in which the claim is made).

So in your scenario (currently 6 years NCD), one fault claim would mean you would still have 3 years NCD at renewal.

geordie_ben

Quentin wrote: »

No.

The max NCD used (as far as losing it following a fault claim) is 5 years. If you have a fault claim, then you lose 2 years (and none is awarded for the year in which the claim is made).

So in your scenario (currently 6 years NCD), one fault claim would mean you would still have 3 years NCD at renewal.

Ah right! Thanks, that makes sense now

What about moving to different companies? I always shop around at renewal time, where do you stand if you've protected your no claims, made a fault claim in thay year, then want to renew with a different provider, is that possible?

Quentin

You will be given the the NCD you have proof of. The claim would still have to be declared.

mikey72

Just to muddy the waters further, loss of ncd due to one accident can make a difference of 25% if you have one year ncd, to only 2% if you're in your tenth year with the co-op car insurance.
Equates to 3 years loss of ncd on their tables.
(before anyone disagrees, it's in the back of the policy summary)
Most of my other policies lose three, not two years as well, just the percentages change.