Protected No Claims: Worth it?

The_Grouch

Hey everyone.

For the last few years I have paid about an extra £70 for 'Protected No Claims' with my fully comp car insurance. As the renewal cost seems to creep/shoot up every year I was just wondering what peoples opinions are on whether this is worth the extra cost? I guess I'm just worried that if I have a scrape then next years premium will go through the roof.

I'm a 29 year old male driving a 2004 mazda 3, I've got about 7 years no claims I think.

leosayer

My rule is never to pay more than £30 for it.

I'm not sure it's worth much because you will always be deemed a higher risk after having a claim, whether you have protection or not.

The difference in premium between 7 years ncb and 5 (assuming you lose 2 for a claim) is negligible in my experience.

The_Grouch

leosayer wrote: »

The difference in premium between 7 years ncb and 5 (assuming you lose 2 for a claim) is negligible in my experience.

Thanks for the reply. Do you only lose 2 years if you have an accident then? I don't really know how this works, I assumed if you had 30 years 'no claims' and had a bump then you lost it all?

daveyjp

Max NCB for claim purposes is usually 5 years. One fault claim usually sets you back to 3 years NCB.

fred7777

Try going to a site like confused.com and checking out how the prices change depending on the options.

My current best quote is £198 for my car with 12 years protected no claims and no accidents in the last 5 years.

For the same details without no claims protection the best quote I get is £192 so protection costs £6.

For the same details but with 0 no claims bonus the best quote is £329.

And adding an accident last year which put my ncb down to 5 years gives a best quote of £277.

So for me paying £6 for no claims protection is worth it but these figures may be very different for others.